Mach 1 Market Moment Podcast

Top 10 Things You Should Know About the One Big Beautiful Bill

Informações:

Sinopsis

This week, Matt, John, and Isaac, dive deep into the groundbreaking "One Big Beautiful Bill" — a sweeping piece of legislation that could reshape your taxes, savings, and financial future. Whether you're a taxpayer, parent, senior, or business owner, these top 10 highlights are essential listening.  Here's what's inside the bill (and this episode):  1️⃣ Individual Income Tax Rates Made Permanent – The TCJA tax brackets (10%-37%) are now here to stay.   2️⃣ Higher Standard Deduction Made Permanent – $31,500 for joint filers, $15,750 for singles starting 2025.   3️⃣ Estate & Gift Tax Exemptions Increased – Up to $30M for couples, inflation-adjusted.   4️⃣ SALT Deduction Cap Raised – Increased to $40,000 in 2025 with phaseouts and future reductions.   5️⃣ New Senior Tax Deduction – $6,000 for those 65+ with moderate incomes (2025–2028).   6️⃣ Tip Income Deduction – Deduct up to $25,000 in tip income (phases out at higher incomes).   7️⃣ Overtime Tax Break – Deduct OT pay: $25K (married) / $12.5K (single), 20