CHARLOTTE, N.C. — Sponsored by:
Charlotte, N.C. – This article involves commercial content.
We all love a good sale, especially this time of year. but when you’re out looking for good deals right now, there’s one sale you don’t want to miss out on.
Chris Hobart is the wealthologist … with Hobart Wealth in Charlotte, and he says there’s a “sale” in an unexpected place … our taxes!
Believe it or not, taxes are on sale right now. They are temporarily lower than they were a few years ago. Sales are temporary, right? Well, taxes went down a few years ago with the 2017 tax cuts and jobs act. But when that legislation was passed, it wasn’t a permanent tax cut. There’s an expiration date, or an ending date for that legislation. The current tax rates are set to sunset, or expire, at the end of 2025 so January 1, 2026, they go back up to the previous rates. This means we only have a limited opportunity to take advantage of lower tax rates.
A lot of people watching us today might have money in a “tax-deferred account.” This means they’ve chosen to wait to pay taxes until later. Think about what we said earlier about taxes being on sale. If you want to get a pair of fancy basketball shoes for one of your grandkids, and those shoes go on sale, that’s the time you probably want to buy them. Otherwise, the sale ends and you’re paying full price. You could have had the exact same shoes at a much lower price if you’d acted when they were on sale.
Here’s the bottom line. Tax rates are lower right now than they’ve been for decades, but we know the current tax rates expire at the start of 2026. There could also be additional tax increases proposed to help chip away at our nation’s debt.
Call or text “VISIT” to 704-703-5656 to schedule your complimentary consultation with Hobart Wealth.
Charlotte Today is a local lifestyle and entertainment show where you’ll learn everything about the Queen City with hosts Mia Atkins and Eugene Robinson on WCNC Charlotte live weekdays at 11 a.m. From what’s trending to local restaurants, events and entertainment, you’ll find it all on this show.
Charlotte Today also features sponsored content by local and national businesses. Are you a business interested in advertising with us ? Go to WCNC.com/advertise or call now (214) 977-6001 . If you have a question for the Charlotte Today team, feel free to email them at .
Make sure to follow Charlotte Today on Facebook , Twitter and Instagram . Get to know hosts Mia and Eugene by reading their bio pages and following them on social media.
