Navigating The One Big Beautiful Bill Act (OBBBA)

Understand how the 2025 tax reform affects you and your business, with expert insights and resources from Kassouf.

The Hr.1 – One Big Beautiful Bill Act (OBBBA) officially passed in July 2025. The Act delivers significant changes to U.S. tax law. From permanent rate adjustments to new deductions, the OBBBA impacts nearly every taxpayer.

At Kassouf, our team of CPAs and advisors is breaking down what matters most, so you can plan with clarity and confidence.

Listen: The OBBBA Explained

Our multi-part podcast series walks through key elements of the bill with practical commentary and planning insights. Episodes are directly linked below, or you can find the Kassouf Podcast Network on Apple Podcasts, Spotify, Amazon Music, iHeartRadio, or wherever you like to listen. Simply search Kassouf to find us.

Episodes:

• Part 1 Context & Individual Tax Provisions: Kassouf Director Joel Jones, CPA, CIA, CVA, ABV, CFF, CGMA® explains key context and background, helping us understand how the OBBBA happened. He also dives into important tax implications for individuals. 

• Part 2 Charitable Giving & Individual Tax Provisions: Kassouf Director Joel Jones, CPA, CIA, CVA, ABV, CFF, CGMA® breaks down changes to charitable giving and more individual tax implications. 

• Part 3 Estate Planning, Energy Credits, & Business Tax Provisions: Coming Soon

What’s Changed Under The OBBBA?

Individual Tax Highlights

• Tax brackets remain but are now permanent

• Standard deduction increased: $31,500 (Married Filing Jointly)

• New $6,000 deduction for seniors (65+); phased out over $150k AGI

• SALT deduction cap raised to $40k, but quickly phased out over $500k AGI

• New deductions:

  • • Up to $25k for qualified overtime pay

    • Up to $25k for qualified tip income

    • Up to $10k in auto loan interest on new personal-use vehicles

Business Tax Highlights

• Section 199A pass-through deduction made permanent

• Bonus depreciation reset to 100%, permanently

• Section 179 limits raised: $2.5M expense / $4M cap

• R&D expenses immediately deductible again (option to amend 2022–2024 returns)

• New incentives for qualified production property

Family, Education, & Childcare

• Child Tax Credit: $2,200 + $1,400 refundable

• Refundable $5,000 adoption credit

• Expanded 529 usage: test prep, dual enrollment, educational therapies

Estate & Gift Planning

• Exemption increased to $15M and made permanent

Energy & EV Credits

• EV credit ($7,500) sunsets Sept. 30, 2025 (new cars) and December 31, 2025 (used cars)

• Most residential and clean energy credits expire in 2025

What Should You Consider?

• Manage Adjusted Gross Income (AGI) to preserve deduction eligibility

• Consider Qualified Charitable Distributions (QCDs) to lower AGI

• Use 2025 as a planning year for charitable giving before phaseouts begin

• Evaluate bonus depreciation opportunities before year-end

• Review your eligibility for new deductions like overtime, auto interest, or tip income

Do You Have Questions About The OBBBA?

We’re here to help you apply these new tax rules with clarity and confidence.

• Contact Us
• Connect With Our Team

The information provided on this page is for general educational and informational purposes only and does not constitute legal, tax, or financial advice. While every effort has been made to ensure accuracy, the content reflects our interpretation of the One Big Beautiful Bill Act (OBBBA) as of its publication date and may not account for subsequent guidance or regulatory changes. 

You should consult with a qualified tax professional or advisor before making any decisions based on this information. Kassouf is not responsible for any actions taken or not taken based on the content of this page or associated podcast episodes.