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At Feinstein Tax and Accounting, we provide North Fort Myers with bookkeeping, tax consultation, preparation, and notary services. We believe in taking a personalized approach, offering our clients attentive service and customized services tailored to your specific needs and circumstances. When you choose to work with our Fort Myers tax and accounting firm, you can rest assured that you’ll receive unbeatable service from a professional team who has more than three decades of experience.
2025 New Tax Law Update – Summary
The 2025 tax year brings several significant changes under the new OBBBA (H.R.1) provisions. Standard deductions have increased across all filing statuses, with additional deductions for seniors. Key credits—including the Child Tax Credit and Adoption Credit—have been expanded, while many energy-related credits are set to expire in late 2025. New deductions are available for qualified tips, overtime pay, and personal-use vehicle loan interest, each with income-based phaseouts. Adjustments have also been made to SALT deductions, 529 plan rules, depreciation limits, and research expense deductions. Several TCJA-era provisions are extended or made permanent beginning in 2026. As always, taxpayers should consult a professional before making financial decisions affected by these updates.