About this episode
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), 2025–2028.
8️⃣ Car Loan Interest Deductible – For U.S.-assembled vehicles, up to $10K interest deductible.
9️⃣ Child Tax Credit Boosted – Increased to $2,200 in 2026 and made permanent.
🔟 Trump Accounts for Kids – New children’s savings account, with $5K annual contribution + $1K federal kickstart for newborns (2025–2028).
📈 This episode is a must-watch for anyone planning their financial future.
👉 Don’t forget to like, comment, and subscribe for more insights from the guys on The Market Moment.
📢 Share this with your tax-savvy friends and family!
💬 Let us know your thoughts! Also, please comment or email us your questions. We hope to answer your questions and respond to your comments in an upcoming episode!
🚨Don’t forget to watch Eli’s breakdown on Data Brief… https://www.youtube.com/watch?v=R0YkvuMUC_g&t=5s
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