Episode 76: In this episode, Timalyn does an overview of the One Big Beautiful Bill Act and how it will affect Individual Taxpayers. Next episode, she'll discuss some of the changes and how they affect business owners.

0:00 Understanding the One Big Beautiful Bill Act

3:59 How your standard deduction has increased

8:01 New $40,000 Cap for State and Local Taxes

10:32 Additional $6,000 Deduction for Seniors

12:27 Deducting Interest on New Car Loans

14:59 New ax Benefits for Overtime and Tip Income

20:10 Increased Child Tax and Adoption Credits

22:39 Elimination of Clean vehicle and home improvement credits

25:39 How to Plan for these tax law changes.

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Remember, Timalyn Bowens is America’s Favorite EA, and she’s here to fill the tax literacy gap, one taxpayer at a time. Thanks for listening to today’s episode.For more information about tax relief options or filing your taxes, visit https://www.Bowenstaxsolutions.com/ .If you have any feedback or suggestions for an upcoming episode topic, please submit them here: https://www.americasfavoriteea.com/com

Disclaimer: This podcast is for informational and educational purposes only. It provides a framework and possible solutions for solving your tax problems, but it is not legally binding. Please consult your tax professional regarding your specific tax situation.