Join Justin McNamara, CFP® and Michael J. McNamara, Ph.D., CFP® who discuss recent changes to the United States tax code under a piece of legislation they informally call the "one big beautiful bill." The conversation focuses heavily on year-end tax planning and the permanent establishment of existing tax brackets and the standard deduction, which was scheduled to sunset. They address major temporary changes, such as the increase of the State and Local Tax (SALT) deduction cap to $40,000 and the introduction of a temporary senior bonus deduction for those over 65, and they urge listeners to consult their tax professionals due to the complexity and retroactive nature of the changes. The hosts also touch on other provisions, including expansions to 529 plans and changes to the federal gift and estate tax exemption, while fielding a call from a listener who shares his successful tax planning strategy.
Justin McNamara, CFP® is a Certified Financial Planner with passion for investment strategy and selection. He works with small businesses and owners, parents of college-bound kids, job changers, pre- and post-retirees.
Michael J. McNamara, Ph.D., CFP®, is the Founder of McNamara Financial and a Certified Financial Planner. He’s semi-retired, and works with legacy clients and select others.
To schedule a visit with the team at McNamara Financial, be sure to visit:
https://mcnamarafinancial.com/contact
McNamara Financial is an Independent, family-owned, fee-only investment management and financial planning firm, serving individuals and families on the South Shore and beyond for over 30 years.
COME SEE WHAT IT'S LIKE TO WORK WITH A FIDUCIARY.
http://mcnamarafinancial.com/
