100. Big, Beautiful Bill: What Actually Changed for Consultants

9.2.25 - 100. Big, Beautiful Bill: What Actually Changed for Consultants

In this episode, Erica provides an important update on the recent tax bill passed by Congress in July 2025. She breaks down the key changes in tax law that affect solo consultants, including what is leaving, what is staying, and what is brand new. Key changes discussed include adjustments to the SALT limitation, the discontinuation of residential energy tax credits and electric vehicle credits, and the extension of lower tax rates and higher standard deductions. Erica also highlights new provisions for charitable deductions, car loan interest deductions, and 529 college savings accounts. The episode aims to offer practical insights without jargon, helping consultants navigate these changes for better financial planning and tax savings.

00:00 Welcome to Consultants and Money

00:51 Summer Break Recap and Big Updates

02:02 Understanding the New Tax Bill

04:04 What's Leaving: Tax Provisions Expiring

06:30 What's Staying: Tax Provisions Continuing

10:10 Brand New Tax Provisions

14:16 Final Thoughts and Personal Takeaways

15:03 Closing Remarks and Farewell

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