Tag: Public Law 119-21

Many of my blog post ideas come directly from questions from and conversations with our clients, and I’m using that inspiration again for this week’s topic: The Trump Savings Account Under OBBBA as it’s time to start the sign-up process for contributions beginning July 4th 2026 Last August, I wrote a blog post titled: “I Have a Quick Question… Can I Invest Money in the New Trump Savings Account Under the…  Read more

The answer:  Yes, and be aware of the changes.  My post ideas often come from recent discussions with tax clients.  This week we spoke with several clients about tax planning/intentional charitable giving and I actually thanked one of them who is extremely charitable but has not been itemizing for the last few years. I needed inspiration and he gave me some… ✅ What’s New for those Who do Not Itemize Deductions…  Read more

IR-2026-49 released April 10th with the IRS final regulations on the “No Tax on Tips” provision from the One Big Beautiful Bill (OBBA) originally passed in July 2025.  We were in “extension mode” here in our office, but had seen the updates and confirmed they did not affect any of the previously completed and filed 2025 tax returns for our clients.  Of course there are no free rides, but we …  Read more

The answer, of course, is “it depends”—and it’s neither quick nor easy.  As with most tax questions, the real answer depends on your specific facts, your goals, and the tax law itself. And in this case, the law is the One Big Beautiful Bill Act (OBBBA), Public Law 119-21 passed in July 2025. Under the One Big Beautiful Bill Act (OBBBA), Congress introduced a new deduction for qualified overtime compensation. While often referred to as…  Read more

The answer, of course, is “it depends”—and it’s neither quick nor easy. As with most tax questions, the real answer depends on your specific facts, your goals, and the tax law itself. And in this case, the law is the One Big Beautiful Bill Act (OBBBA), Public Law 119-21 passed in July 2025. Since its passage, our office has spent countless hours ⏰ attending in-depth seminars devoted entirely to the…  Read more

Another great question! 🎯 and of course we say “it depends” and “it’s not quick or easy”  when you do things right, we may find opportunities during our tax planning strategy meetings.  As we head toward the end of 2025, charitable giving deserves a second look 👀 — especially for taxpayers who itemize deductions and consistently support charitable organizations. Here’s the key takeaway upfront:👉 The charitable contribution rules for 2025 remain unchanged.👉 But the…  Read more

Our answer to most tax related questions, of course, is “it depends”; like most things tax-related, the answer is tailored to each client’s circumstances and goals.  Since it’s passing  our office has spent countless hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21. We’ve been learning the law and discussing how to educate our clients (and ourselves). Working up tax planning and tax minimization…  Read more

One of our client’s shared a recent article he read in the Wall Street Journal, his question:  should I still continue with the Roth Conversions, and should I now place a large amount of money in a charity donor advised fund The answer, of course, is “it depends” — and it’s not quick or easy. Like most things tax-related, the answer is tailored to each client’s circumstances and goals and of course…  Read more

The answer, of course, is “it depends” — and it’s not quick or easy. Like most things tax-related, the answer is tailored to each client’s circumstances and goals and of course the tax law! 📚⚖️ Since it’s passing, our office has spent 30+++ hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21. We’ve been learning the law and discussing how to…  Read more

The answer, of course, is “it depends” — and it’s not quick or easy. Like most things tax-related, the answer is tailored to each client’s circumstances and goals and of course the tax law! 📚⚖️ Over the past few weeks, our office has spent 20+++ hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21. We’ve been learning the law and discussing…  Read more

The answer, of course, is “it depends” — and it’s not quick or easy.  Like most things tax-related, the answer is tailored to each client’s circumstances and goals AND of course the tax law! Over the past few weeks, our office has spent 20+++ hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21.  We’ve been learning the law and discussing how…  Read more

The answer, of course, is “it depends” — and it’s not quick or easy. Like most things tax-related, the answer is tailored to each client’s circumstances and goals.  Over the past few weeks, our office has spent 20++ hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21. We’ve been learning the law and discussing how to educate our clients (and ourselves). Working…  Read more

The answers to these “quick and not so quick questions are never quick or easy.  Our answers are always based upon the situation, tailored to each client, their circumstances, and their goals AND of course the tax law!🙃 Over the past few weeks, our office has spent 20+++ hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21.  We’ve been  learning the…  Read more

The answer is of course not quick or easy and is always tailored to each client — your circumstances, your goals, your timeline. 💡 Just this week and last, our office spent over 20 hours attending tax seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21  — yes, it’s BIG and so are the opportunities for tax savings, even as early as tax…  Read more