The One Big Beautiful Bill Act (OBBBA) – a sweeping piece of tax legislation that impacts everything from deductions to child savings accounts – has been passed. Do you know what it means for your financial plan?
In this episode of The Agent of Wealth Podcast, host Marc Bautis is joined by John Williams to break down key provisions of the new law and highlight the biggest planning opportunities.
In this episode, you will learn:
- How the new $40,000 SALT deduction cap works, who benefits, and why the phaseout rules could make itemizing worthwhile again for taxpayers in high-tax states.
- What the Senior Standard Deduction offers to those age 65 and older, how the phaseout thresholds apply, and how it compares to existing deduction strategies in retirement.
- Why the newly introduced Trump Accounts — government-seeded investment accounts for children — could become a powerful savings tool alongside 529 plans and Roth IRAs for kids.
- How changes to charitable contribution rules — including the new deduction cap, minimum “floor,” and standard deduction adjustments — may influence when and how you give.
- Plus: new above-the-line deductions for tips and overtime, expanded 529 plan uses, car loan interest deductions, the repeal of EV and residential energy credits, and more.
Resources:
Episode Transcript & Blog | The One Big Beautiful Bill Act Checklist | Bautis Financial: 8 Hillside Ave, Suite LL1 Montclair, New Jersey 07042 (862) 205-5000 | Schedule an Introductory Call
