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Who Won and Lost in Trump’s Tax Bill
News July 03, 2025 at 01:45 PM
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What You Need To Know
- The rich gain the ability to pass more wealth on to their heirs and dodge a tax increase.
- The limit on the state and local tax deduction rises to $40,000 annually for a five-year period.
- The 2017 law that allowed pass-through business to deduct up to 20% of their qualified business income from their taxable income is permanently extended.
Immediate Answers to Critical Tax Questions At Your Fingertips
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