Election Year Tax Insights - What Lies Ahead for 2025 and Beyond

In the latest episode of Amplified Wealth, hosts Austin Hagaman and Adam Armstrong sit down with Jonah Gruda, a tax expert and Partner at Withum, to explore the intricate world of tax planning in these uncertain times. As we approach significant legislative shifts, understanding the landscape is crucial for anyone serious about financial planning.

Episode Highlights:

💼 Tax Cuts and Jobs Act (TCJA) Overview: Jonah provides a deep dive into the TCJA, explaining its key provisions and what changes could mean for you as we near the 2025 expiration date.

📅 Strategic Estate Planning: Discover why now is the time to review and potentially update your estate plan before the current tax laws sunset, especially for high-net-worth individuals.

📊 Long-Term Tax Outlook: Gain insights into the potential long-term trajectory of tax rates and what that means for your financial future, including planning for higher rates in the coming years.

💡 Practical Steps for Uncertainty: Learn actionable steps to take today, from reviewing your liquidity needs to engaging with your advisory team, ensuring you're prepared no matter what happens in the next election.

🌟 Working with a Team: Jonah emphasizes the importance of collaboration between your wealth advisor, CPA, and estate planning attorney to align all aspects of your financial life.


Timestamps:

Soft Open / Introduction: (00:00)
Meet Jonah Gruda - Tax Insights: (02:05)
The Tax Cuts and Jobs Act Overview: (07:00)
Current Tax Environment and Future Considerations: (15:05)
Estate Planning Strategies Before 2026: (27:54)
Taxation, Wealth Planning, and Social Programs: (42:26)
Discussion on Unrealized Gains and Wealth Taxes: (53:02)
Personal Stories and Fun Facts: (1:01:52)