The One Big Beautiful Bill Act: What every individual should know

The One Big Beautiful Bill Act (OBBBA) makes sweeping changes to individual taxes. Key highlights include permanent lower tax rates, a higher standard deduction, and an increased Child Tax Credit. Seniors benefit from a new $6,000 deduction, while families gain flexibility through expanded 529 plans and the new Trump Accounts for children. Other provisions, like temporary deductions for tips and overtime, changes to the SALT cap, and updated rules for estate taxes, will affect households differently depending on income and circumstances.

Since these provisions touch so many areas, from families with young children to retirees, it’s important to understand how they apply to your situation. If you need help navigating the new rules, be sure to reach out to your CPA or Tax Advisor.

Click the image below for a downloadable PDF of all the key individual tax provisions: