One Big Beautiful Bill Act

Several tax provisions will shift beginning in 2025 under the One Big Beautiful Bill Act. These changes affect the state and local tax deduction, the educator expense deduction, and the treatment of mortgage insurance premiums. Understanding these updates now can help taxpayers plan ahead and avoid surprises during next year’s filing season. SALT Deduction Cap Increases to 40,000 The state and local tax deduction, known as the SALT deduction, has been limited to 10,000 since

Beginning in late 2025, the IRS will shift away from paper-based payments and paper refund checks. This new electronic payment mandate is part of a federal payment-modernization initiative supported by the U.S. Treasury. The IRS notes that electronic payments reduce delays, improve accuracy, and provide immediate confirmation that a payment was received. IRS payment systems: https://www.irs.gov/payments IRS Direct Pay: https://www.irs.gov/payments/direct-pay Treasury announce

Several major federal clean energy tax credits will end over the next two years as part of the One Big Beautiful Bill. These credits have offered substantial savings for homeowners upgrading to efficient energy systems and for taxpayers purchasing electric vehicles or chargers. With the upcoming expiration dates, anyone planning a project or purchase should act quickly to take advantage of the current incentives. Residential Clean Energy Tax Credits The Residential Clean Ener

The One Big Beautiful Bill Act (OBBBA)  is bringing major tax changes that could affect your 2025 tax planning and long-term strategy....

Learn about the new 2025 tax deductions for working Americans and seniors under the One Big Beautiful Bill Act. Find out what’s eligible, how much you can deduct, and how to prepare for the upcoming tax season.