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.
What Is The OBBBA?
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.
Our Tax Experts
James F. Beall, Jr., CPA, CFP®, PFS, CVA
Director
Zachary L. Bennett, CPA, PFS
Director
Wesley A. Brown, CPA, CVA, ABV
Director
James R. Dicks, CPA, CVA, CGMA®
Director
Joel C. Jones, CPA, CIA, CVA, ABV, CFF, CGMA®
Director
David P. Kassouf, CPA, PFS, CFP®, CVA, ABV, CFF
Director
Gerard J. Kassouf, CPA, PFS, CFP®, AEP®, CGMA®
Director
Jonathan G. Kassouf, CPA, PFS
Managing Director
Michael D. Kassouf, CPA
Director
Sally S. Bradley, CPA, CGMA®
Principal
Dawn D. Jones, CPA, CGMA®
Principal
Rachelle M. North, CPA, CGMA®
Principal
Ashley B. Hudson, CPA
Manager
Julie K. Myers, CPA
Manager
Lindsey A. Noto, CPA
Manager
Margaret H. Novak, CPA
Manager
Bridget A. O'Neal, CPA
Manager
Brad R. Stephen, CPA, CFE
Manager
Kami R. West, CPA
Manager
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.