Tax Season is Here, and It’s Going to be a Wild Ride

Tax season kicked off on January 26, and if you’re like most people, you’re probably wondering how Trump’s 2025 tax cuts will affect your return. It’s not like the IRS is going to make it easy for you to figure out, so let’s break it down.

The Good, the Bad, and the Ugly

Here’s the thing: these tax cuts won’t be all good or all bad for everyone. It’s complicated. If you’re rich, you’ll probably come out on top. If you’re not, you might not be so lucky. It’s not exactly a secret that Trump’s tax cuts were designed to benefit corporations and the wealthy, so don’t expect a big refund if you’re living paycheck to paycheck.

The 2025 tax cuts also got rid of some deductions and changed others, so it’s possible your return will look very different this year. Don’t worry, it’s not the end of the world. You’ll just need to do some extra math or hire someone to do it for you. Joy.