Join hosts Chris Picciurro, CPA, and John Tripolsky as they unpack the sweeping changes introduced by the newly enacted One Big Beautiful Bill Act (OBBBA or OB3). This 1,100-page piece of legislation is one of the most impactful tax updates in recent years, and this episode breaks it down into digestible, actionable insights for individual taxpayers.

What You’ll Learn:

• How OB3 makes many TCJA provisions permanent

• What’s changing with the Child Tax Credit and how it affects your refund

• New deductions for overtime pay and tip income

• Why the SALT deduction cap increase is a big win for high-tax states

• What “Trump Accounts” are and how they could shape your child’s financial future

Key Insights:

Chris Picciurro highlights the lasting impact of OB3 on everyday tax planning. From expanded standard deductions to new tax benefits for families and workers, this episode is a must-listen for anyone navigating the new tax landscape in 2025 and beyond.

Practical Takeaways:

• Use the increased $2,200 Child Tax Credit to boost your refund potential

• Plan ahead if you’re in a high-tax state—the $40,000 SALT deduction cap can dramatically shift your strategy

• Deduct up to $25,000 in cash tips and leverage new vehicle loan interest rules

• Learn how “Trump Accounts” might offer automatic contributions for your child

Resources:

• Wealth Builders Mortgage Group: wealthbuildersmortgagegroup.com

• Explore more episodes at TeachingTaxFlow.com

• Join the Defeating Taxes Facebook Group: DefeatingTaxes.com

• Watch full episodes on our YouTube Channel

Episode Sponsor:

Wealth Builders Mortgage Group

Visit wealthbuildersmortgagegroup.com and mention Teaching Tax Flow for personalized mortgage guidance from trusted professionals.

(00:02) - Exploring the One Big Beautiful Bill Act's Impact
(06:16) - Tax Cuts and Benefits for Families Under OB3
(13:34) - New Tax Deductions and Their Impact on Taxpayers
(22:08) - Introducing Trump Accounts and Expanded 529 Plan Flexibility
(23:41) - Tax Changes and Their Impact on Future Financial Planning

Ep. 144 | One Big Beautiful Bill Act: What It Means for Individuals

Teaching Tax Flow: The Podcast