9 New Tax Projections for Retirement Planning in 2025

Every year, many numbers in the Internal Revenue Code are adjusted for inflation, ranging from the amount of the standard deduction to key limits for annual contributions to tax-advantaged retirement accounts.

Generally, the IRS sets its formal adjustments in mid-October, but there is now enough inflation data available to make relatively reliable projections for 2025 possible — and that is exactly what Bloomberg Tax has done.

In its latest annual tax projection report, the research and news organization uses data from the consumer price index to project 2025 inflation-adjusted amounts for many key tax rates.

Notably, as Bloomberg Tax warns, there may be instances where a literal application of an IRC provision may result in an amount different from the amount Bloomberg Tax expects the IRS to publish when it releases official inflation-adjusted amounts later in 2024.

Nonetheless, the figures in the report offer an opportunity for financial advisors and their clients to start planning ahead for next year.

See the slideshow for a selection of key tax projections that will be highly relevant for financial advisors working with clients focused on preparing for and navigating retirement.