The "Big Beautiful Bill" could reshape your tax bill

Описание: The federal bill that the GOP calls the "Big Beautiful Bill" could significantly affect the way many Americans are taxed. Families and retirees will see some changes; some new deductions; an increased child tax credit. There are new deductions for tips and overtime. Our guests will walk us through what is changing and how it could affect us.

Our guests:

-Anthony Scinto, CPA, partner and tax department chair with MMB+CO
-Kristina Stamatis, CPA, partner with MMB+CO

0:00 Introduction
3:17 SALT cap changes for New Yorkers
4:27 What is SALT and why it matters
5:42 Charitable giving and itemizing
8:47 Write-offs and home office deductions
14:27 Claiming the child tax credit
17:06 What is the Trump account?
19:05 Trump account vs. 529 plans
22:13 NYS tax breaks for 529 contributions
23:22 Senior bonus deduction explained
24:45 Standard deduction updates
29:37 Business investment and depreciation
34:48 Medical deductions and itemizing
37:05 Inherited IRAs and early withdrawals
41:01 Audits, TurboTax, and hiring a CPA
45:26 AMT and estate tax exemptions
50:20 Why tax planning starts now

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