How does the “One Big Beautiful Bill” Act (OBBBA) impact you? That’s the question on the minds of many taxpayers—and business owners in particular. Like most tax packages, the bill is full of nuanced changes to existing laws and complex new tax deductions and credits. For taxpayers living in high tax states, one updated tax […]
There’s a New Set of SALT Rules in Town: How to Avoid a Tax Increase Read More »
Even before the “One Big Beautiful Bill” Act (OBBBA) started making headlines, taxpayers and lawmakers were debating what to do about state and local taxes (SALT). Why all the fuss about SALT? Changes made to SALT rules in 2018 meant that taxpayers in certain states were suddenly paying way more tax. Before this, taxpayers could
Will the New SALT Rules Mean a Tax Increase? Avoid the Tax Cliff Using Income Timing Read More »
Now that the dust has begun to settle and Americans are wrapping their minds around the many details of the “One Big Beautiful Bill” (OBBB), what’s next? In our last series of blogs, we covered the tax benefits available to businesses. Many of the new tax rules are complex, requiring businesses to fulfill specific requirements
Part 3: There’s a New Tax Act in Town: Doubling Down on Deductions Read More »
Headlines announcing the details of the “One Big Beautiful Bill” (OBBB) have started to subside. Whether it’s news fatigue or gaining the clarity they need, many taxpayers have also slowed down in asking questions and parsing tax provisions, trying to make sense of it. But for tax professionals, the conversation is just beginning. The OBBB
Part 3: Tax Planning for the OBBB: How the New Tax Act Can Benefit Individuals Read More »