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As we approach the end of 2025, several temporary tax provisions that were part of the 2017 Tax Cuts and Jobs Act are set to expire, including the lifetime estate and gift tax rules.

For couples, the amount is $25.84 million for 2023. If the scheduled sunset takes place in 2026, the estate and gift tax exemption will revert back to an estimated $14 million for couples, depending on the inflation rate over the next few years. With this pending change on the horizon, you might consider revisiting your estate strategy if you are uncertain whether the sunset will influence your approach.

The sunset's impact extends beyond lifetime estate and gift tax rules. For example, the top income tax rate is expected to revert to 2017 levels, rising from 37% to 39.6%. The $10,000 limit on state and local tax deductions is scheduled to expire, as is the $750,000 cap on mortgage interest deduction.

This post is for informational purposes only and is not a replacement for real-life advice, so make sure to consult your tax, legal, and accounting professionals before modifying your estate or tax strategy in anticipation of changes in 2025.

Upgrade your travel experience in 2023 with a luxury cruise. Travel + Leisure has their favorite lines and stunning destination @ https://bit.ly/3GIFbF2 #2023

The 16 Best Cruises to Book in 2023, According to T+L's Expert Travel + Leisure hand-selected 16 different types of on-the-water adventures to consider in the year ahead.

The United States has re-opened its embassy in Havana, as many Cubans look to immigrate to the U.S. AP News has the details @ https://bit.ly/3GJxnmi

Facing migration flood, US resumes services at Cuba embassy HAVANA (AP) — Grappling with the biggest flood of Cuban migrants in decades, the United States reopened their long-closed legal pathway on Wednesday by resuming all visa services at its embassy in Havana.

The last astronaut from the Apollo 7 missions has passed away. CBS News details the life of Walter Cunningham @ https://bit.ly/3jSH9tk

Walter Cunningham, Apollo 7's last surviving astronaut, dies at 90: "He is the definition of an American hero" Cunningham was one of three men who served on the first human test flight of the Apollo spacecraft, a mission that helped pave the way for astronauts to walk on the moon for the first time just months later.

While the Fed has agreed to slow interest rate hikes, they're asking for flexibility regarding future hikes as they keep watch over the economy. Reuters has the story @ https://bit.ly/3jSHxrM

Fed wants 'flexibility' on rates as inflation remains key focus, minutes show All officials at the Federal Reserve's Dec. 13-14 policy meeting agreed the U.S. central bank should slow the pace of its aggressive interest rate increases, allowing them to continue increasing the cost of credit to control inflation but in a gradual way meant to limit the risks to economic growth.

Kick your new year off right with these 3 things that every senior citizen should have. CBS New has the story @ https://bit.ly/3vIi32U #2023

3 helpful things seniors should buy in 2023 These items can offer medical assistance, security and financial stability, often at a reasonable cost.

The SECURE Act 2.0 was signed into law as part of the $1.7 billion spending bill. How will this affect your retirement savings? NPR has the details @ https://bit.ly/3ClrCZl #2.0

The federal spending bill will make it easier to save for retirement. Here's how From emergency savings accounts to assistance for student loan borrowers, the new federal spending bill aims to make it easier to save for retirement.

Have you ever wondered what a dust devil on Mars sounds like? Thanks to the Perseverance rover, we now have our answer! AP News has the story @ https://bit.ly/3uZRnu5

Mars rover captures 1st sound of dust devil on red planet CAPE CANAVERAL, Fla. (AP) — What's a dust devil sound like on Mars? A NASA rover by chance had its microphone on when a whirling tower of red dust passed directly overhead, recording the racket. It's about 10 seconds of not only rumbling gusts of up to 25 mph (40 kph), but the pinging of hundreds ...

Celebrate Hanukkah (or just treat yourself!) with this holiday classic: jelly doughnuts! Known as sufganiyot, these tasty pastries are fried in oil, then filled with jelly or jam. AP News has the recipe @ https://bit.ly/3FxWC9f

Jelly doughnuts: How to make the ultimate Hanukkah pastry Jelly doughnuts, also known as sufganiyot, have become a classic Hanukkah treat, one of a number of foods fried in oil that are popular on the holiday ( latkes, or potato pancakes , are another).

The U.S. trade deficit grew in October, as a strong dollar and declining exports hit a 7-month low. Reuters has the details @ https://bit.ly/3BjOqrQ

U.S. trade deficit widens as goods exports hit seven-month low The U.S. trade deficit widened sharply in October as slowing global demand and a strong dollar pushed goods exports to a seven-month low, suggesting that trade could be a drag on economic growth this quarter if the trend persists.

Age knows no bounds when it comes to skiing. Travel + Leisure has the best places for seniors to hit the slopes in North America @ https://bit.ly/3BiYLo9

These 10 Ski Resorts Are Perfect for Senior Skiers These 10 ski resorts in the U.S. and Canada cater to seniors with special events, discounted (or free) tickets, and more.

The last Boeing 747 has exited the factory, ending the plane's 50-year production run. CNBC has the story @ https://bit.ly/3Fx8LLZ #747

Boeing's last 747 has rolled out of the factory after a more than 50-year production run Boeing has produced 1,574 of the planes at its factory north of Seattle.

The famed Orient Express unveiled the design for its Presidential Suite and is set to travel the rails in 2025. Travel + Leisure details the experience @ https://bit.ly/3Uq7vPQ

The Orient Express Just Revealed the Design for Its Stunning Presidential Suite — See Inside Accor is reviving the original Orient Express carriages, with the train set to hit the rails in 2025. The hospitality group just offered slow travel enthusiasts a sneak peek into the train's Presidential Suite ahead of an immersive exhibit at Design Miami.

The French baguette has been added to UNESCO's Intangible Cultural Heritage list. CBS News has delicious details @ https://bit.ly/3ioldpf

France celebrates addition of baguette to U.N.'s world heritage list: "250 grams of magic and perfection" The French delegation celebrated the vote by raising baguettes in the air.