Important Tax Changes: Your OBBB Summary Guide
Our One Big Beautiful Bill Act (OBBB) Guide highlights significant tax provisions that may affect you in 2025 and beyond.
The recently passed One Big Beautiful Bill Act (OBBB) included many significant tax provisions. In addition to making permanent the 2017 Tax Cuts and Jobs Act tax cuts, the Act includes additional tax changes that are effective for 2025, with additional provisions taking effect in 2026. This comprehensive legislation introduces substantial changes to the tax code that will affect all American’s tax returns for the foreseeable future.
Our comparison guide below provides a side-by-side comparison of the tax landscape before and after the passing of OBBB, helping you better understand how these changes may impact your financial strategy.
Key Benefits You Should Know:
SALT Deduction: Increased from $10,000 to $40,000 (subject to income phaseout rules)
New Deductions: Overtime income, tips, vehicle loan interest, senior deduction (aged 65+)
Child Credits: Enhanced Child Tax Credit and enhanced Child and Dependent Care Credit
Business: Permanent 100% bonus depreciation and improved QBI deduction
Estate Planning: Higher lifetime estate and gift tax exemption made permanent
Our guide can help you identify any changes to your current tax strategy and identity immediate planning opportunities for 2025 and beyond:
Download Your One Big Beautiful Bill (OBBB) Comparison Guide Here
While guides, checklists and flowcharts can help you identify different opportunities, we are always available to meet with you to discuss your financial needs and goals, and help to identify what the best opportunities are for you.
Want to learn more about private wealth planning?
This content is provided by Windward Private Wealth Management Inc. (“Windward” or the “Firm”) for informational purposes only. Investing involves the risk of loss and investors should be prepared to bear potential losses. No portion of this blog is to be construed as a solicitation to buy or sell a security or the provision of personalized investment, tax or legal advice. Certain information contained in the individual blog posts will be derived from sources that Windward believes to be reliable; however, the Firm does not guarantee the accuracy or timeliness of such information and assumes no liability for any resulting damages.
Windward is an SEC registered investment adviser. The Firm may only provide services in those states in which it is notice filed or qualifies for a corresponding exemption from such requirements. For information about Windward’s registration status and business operations, please consult the Firm’s Form ADV disclosure documents, the most recent versions of which are available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov.