You've likely heard about the "One Big Beautiful Bill Act," which was signed into law last year, making many of the 2017 Tax Cuts and Jobs Act provisions permanent. Given the bill's length (887 pages) and complexity, we wanted to help simplify and share some key information that may impact your tax situation and personal finances.1
The uncertainty around future taxes has been a topic of discussion for the past few years, impacting financial strategy considerations among individuals, families, and small business owners. The One Big Beautiful Bill Act addresses much of this uncertainty by making many of the TCJA provisions permanent, adding a degree of clarity to future tax policy.
This comprehensive legislation includes many tax provisions beyond just making the 2017 tax cuts permanent – everything from a senior "bonus" and larger state and local tax deductions to breaks for tip income, overtime pay, and auto loans. It even created a new tax-advantaged savings account for children.2
With so much to digest, we've boiled down the key most relevant provisions to individuals and families. Here’s a look at changes expected to impact most tax filers shortly: Download One Big Beautiful Act PDF
We're here to help you navigate these changes.
We can work with your tax advisor and other professionals to help your financial strategy take full advantage of these new opportunities while preparing for future changes.
We'd be happy to discuss how these changes might impact your specific situation. Please don't hesitate to reach out to schedule a consultation.
1. CNBC, June 18, 2024
2. CNBC, July 3, 2025