Description

In this special tax planning edition of The Personal Finance Project, Scott and Greg break down the most important takeaways from the newly passed "One Big Beautiful Bill Act"—and how it could reshape your retirement income strategy, charitable giving, and Roth conversions in 2025 and beyond.

Whether you're nearing retirement, already drawing from IRAs or Social Security, or just curious about how the latest tax law changes impact estate planning, this episode covers what's new, what's staying the same, and how to avoid costly mistakes during this transition year.

Key topics include:

• Estate tax exemption increases and planning implications
• The future of Roth conversions and Roth distribution strategies
• New senior deduction and how to optimize around it
• Expanded SALT and standard deductions
• Charitable giving rules, QCDs, and the new AGI floor
• The impact of tip income, overtime, and "Trump Accounts"
• 529 changes for K–12 education
• How new deductions interact with IRMAA and phase-outs

If you want to understand how to get the most tax-efficient retirement income possible, this episode is packed with real-world analysis and practical advice.