Changes to the tax code are becoming more frequent, says certified public accountant Allison Mott.
This year, she said Missouri was the first state to make capital gains exempt from taxes, effective starting with the 2025 tax year.
“If you think about somebody looking to invest, we're on the state line,” Mott, who works at AM CPA, told KCUR’s Up to Date. “If you were going to buy an additional property for investment, you'd probably pick the Missouri side, knowing that you'd be saving around 5%.”
The Big Beautiful Bill made several changes at the federal level, including no tax on overtime or tips, an increase to state and local tax deductions and an additional deduction for seniors.
- Allison Mott, CPA at AM CPA
