Over 800 Pages of Taxes: Don’t Worry, We Read It So You Don’t Have To

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The One Big Beautiful Bill Act is over 800 pages long and packed with tax changes that impact retirees, individuals, and small business owners. From expanded standard deductions and new senior tax breaks to permanent small business deductions and the end of many green energy credits, this bill reshapes key parts of the tax code — at least for the next few years.

In this episode, Tyler Emrick, CFA®, CFP®, breaks down what’s actually in the bill and what it means for your planning. You’ll learn:

• How the standard deduction and senior deduction are changing (and why it matters for Social Security taxation)
• The permanent extension of reduced tax rates from the 2017 tax law
• New above-the-line deductions for tips, overtime, and car loan interest
• Changes to SALT deductions and charitable contributions
• What small business owners need to know about the permanent QBI deduction and phaseouts

Whether you’re already retired or planning ahead for your business and family, this episode will help you understand the real implications — without having to read 800 pages of tax law yourself.

Have questions?

Need help making sure your investments and retirement plan are on track? Click to schedule a free 20-minute call with one of True Wealth's CFP® Professionals: http://bit.ly/calltruewealth

 

Watch the show now on YouTube: https://www.youtube.com/channel/UCjENBHOti-IEJFqeydZm_Fg?sub_confirmation=1