Episode 48: Breaking Down the Big Beautiful Bill Part 2 for Individual Taxpayers

In this episode, I discuss the significant changes in tax legislation following the newly passed bill. I provide an overview of updates that impact individuals, including the extension and modification of provisions from the Tax Cuts and Jobs Act of 2017. Key topics include standard deductions, personal exemptions, child tax credits, mortgage interest deductions, and tips and overtime tax breaks. I also highlight additional changes such as charitable contribution deductions, enhanced deductions for seniors, and itemized deductions for automobile interest. Finally, I provide advice on how to navigate these updates, the importance of consulting credible sources, and what to expect moving forward.