After a brief summer hiatus, we're diving into the newly passed One Big Beautiful Bill (OBBA) to unpack what these changes actually mean for your financial planning.

The good news? Many of the lower tax rates you've enjoyed since 2017 are now permanent (or at least until some future Congress changes them). But beyond that headline, there are several meaningful changes worth understanding – especially if you're over 65, live in a high-tax state, make charitable contributions, or have substantial wealth to transfer to the next generation.

We break down the new "Senior Bonus" exemption that provides $6,000 in tax relief for those 65 and older, explain how the SALT deduction cap increases from $10,000 to $40,000 for itemizers, and explore new rules for charitable giving that benefit both itemizers and non-itemizers alike. For higher-net-worth individuals, we clarify how the estate tax exemption increases to $15 million per person and what that means for your legacy planning.

While some provisions are genuinely helpful, others come with important limitations – income thresholds where benefits phase out, sunset dates when provisions expire, and trade-offs that might affect your healthcare costs. We cut through the confusion of this 870-page legislation to highlight what matters most for your personal situation.

Most importantly, we discuss practical implications: What actions should you consider taking now? How might these changes affect your tax planning for the next several years? And how should you think about the inevitable future changes to come? Join us for this essential conversation about protecting and optimizing your financial future in light of America's ever-evolving tax code.

Colin's article we discuss: https://www.oakleighwealth.com/articles/obbba?rq=beauty