Key OBBBA tax changes include enhanced senior deduction, higher standard deductions, expanded SALT deductions and child tax credits
Planning strategies for charitable deductions, AMT changes, 529 plans, and estate and gift taxes
Temporary and permanent provisions affect high-income, senior and family taxpayers with guidance on timing deductions and income
The passage of the One Big Beautiful Bill Act (OBBBA) in July brought certainty to individual taxpayers. Had new legislation not been passed and signed into law, many of the key tax breaks in the Tax Cuts and Jobs Act (TCJA) of 2017 would have expired at the end of this year.
