Trump Tax Cut Plan 2025. Trillions in trump's tax cuts will expire after 2025 without action from congress. By extending the cuts beyond 2025, earners in this income bracket would see lower tax rates and a doubling of the standard deduction, the wharton report said.

For married couples filing jointly, it’s $29,200 in 2024 and will be $30,000 in 2025. If that isn’t extended, small business owners should plan to set aside extra cash to pay higher taxes in 2026, campbell said.