Eliminating the car tax on vehicles valued under $40,000
Exempting tips from state income tax for service workers
Increasing the standard deduction for all taxpayers
Tax Relief Updates: How Virginia's Proposed Budget Could Affect You
Justin Henderson • May 1, 2025
Virginia’s 2025 Tax Relief Proposals: What You Need to Know
Governor Glenn Youngkin and Virginia lawmakers are proposing several tax relief measures as part of the 2025 state budget. Among the highlights:
These changes, if passed, could bring meaningful relief to many Virginia residents - especially working families, young professionals, and small business owners.
At Tax Resolution Accounting, we encourage our clients to keep in mind that a house is built by wisdom and established through understanding (Proverbs 24:3).
Staying informed about tax changes ensures you can maximize the resources God has placed in your hands and plan wisely for the future.
Here’s what you can do now:
Stay updated: Legislation is ongoing. Final decisions may adjust the specifics.
Review your finances: Changes in deductions and exemptions could affect how you budget the rest of the year.
Consult with a professional: We can help you estimate potential savings and adjust your financial strategy accordingly.
Good stewardship starts with good information. If you’d like a personalized consultation on how these updates could impact you, reach out today. We would be honored to walk with you through every season.
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