July 31, 2025
Figma priced its IPO at $33 a share on July 30, 2025 and closed its first trading day near $115.50, and the pop creates a real tax cost for employees holding options and restricted stock.
The $250,000 and $500,000 home sale exclusions have not changed since 1997. Repealing the tax would mainly help older, wealthier owners of homes with large gains, Yale researchers found.
The Congressional Budget Office reported July 21, 2025 that the tax and spending law signed on July 4 will add $3.4 trillion to deficits through 2034, a number that matters for anyone planning around today's rates.
In Estate of Rowland, a late Form 706 that reported only an estimated total value failed to carry a deceased wife's unused exclusion to her husband's much larger estate.
Gov. Mike Kehoe signed House Bill 594, letting individuals deduct 100% of federally reported capital gains, short-term and long-term, starting with the 2025 tax year.
For startup stock acquired after July 4, 2025, founders and early investors can exit sooner with partial tax relief and shelter more gain, but older shares keep the old rules.
The new tax law sets the federal estate, gift and GST exemption at $15 million per person in 2026 with no sunset, removing the pressure that drove a surge in lifetime gifting.
A insider share sale reported July 8, 2025 pegged SpaceX at roughly $400 billion, and the tax bill for employees cashing out at $212 a share hinges on how their shares were granted.
The One Big Beautiful Bill Act makes the 2017 rate structure permanent but adds new limits on itemized and charitable deductions that land squarely on top-bracket households.
The Social Security Administration told beneficiaries the new tax bill ends tax on benefits for most. It does not, and the new senior deduction disappears for couples earning $250,000.
Sen. Cynthia Lummis's digital asset tax package would end same-day crypto loss harvesting, defer tax on staking rewards and waive appraisals for donated tokens.
Smaller Washington estates now owe less, but estates above roughly $9 million pay more under a schedule that tops out at the highest state estate tax rate in the country.