The One Big Beautiful Bill Act - Personal Income Tax Changes
On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) which includes several provisions that impact taxes and spending. Whenever I tell people I'm a CPA, I get a lot of questions about taxes and usually push back that tax is not my area of expertise. This is true - I've never done anyone's taxes other than my own and am not a tax expert. I do, however, have a basic understanding of our tax code and a natural curiosity when there are significant changes in tax legislation. I've also seen a lot of mis-information being shared online - which is likely in part due to the fact that our US tax code is unnecessarily complicated. Here's my summary of the most prominent personal income tax provisions of the OBBBA. These are largely sourced through Google Gemini AI , do not cover non-tax spending provisions of the bill and do not include my own personal opinions on the bill (maybe I'll do a separate post on that). 1. Makes Tax Cuts and Jobs ...