Watch my my conversation about the "One Big Beautiful Bill - Overview & Planning Ideas" with Marty Shenkman (Shenkman Law)
#JonathanOnMoney #ParkBridgeWealth #Investing #WealthManagement #Taxes #EstatePlanning #BigBeautifulBill #MartinShenkman
Description:
The Big Beautiful Bill, or OBBBA, was passed on July 3rd and President Trump signed the bill into law on July 4th. The bill is massive in terms of spending, tax changes and more. Some of the changes, with a particular focus on estate planning, will be reviewed below. The focus will be on what some of the Big Beautiful Bill changes mean to your estate plan. In very general terms the Big Beautiful Bill extends many of the expiring provisions from the 2017 Trump tax cuts contained in the Tax Cuts and Jobs Act. It enacts several Trump campaign promises and tax priorities (e.g., “no” taxes on certain tips and overtime pay). It also ends many clean energy tax incentives. This episode will cover a variety of ways this bill impacts your financial and estate plan.