Tax Planning Opportunities Under The New "One Big Beautiful Bill” Act

The “One Big Beautiful Bill Act” (OBBBA), which was signed into law on July 4, 2025, put to rest years of uncertainty over whether the tax rules created by the Tax Cuts and Jobs Act of 2017 would be extended or allowed to sunset at the end of 2025. At the same time, however, it also included a host of new provisions that will introduce new planning considerations for clients of financial advisors. In this session, Kitces Lead Financial Planning Nerd Jeffrey Levine will provide a detailed overview of the changes brought about by the OBBBA and discuss tax planning strategies that clients of financial advisors can implement now that the law is finalized. He’ll be covering the OBBBA’s tax-related provisions including the increased SALT deduction, additional deduction for seniors age 65+, increased gain exclusion for qualified small business stock, renewed qualified opportunity zone investments, and new 529 plan eligible expenses. He’ll also cover planning implications of the new bill, ranging from new considerations for individuals making Roth conversions, changes to charitable deduction strategies, estate planning techniques, and more!