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Thinking about hiring a new tax pro? Don’t wait until January. Most tax professionals fill their books early — the best time to reach out is now. From October through December, many firms finalize client rosters and may still have openings. With the One Big Beautiful Bill increasing 2025 filing complexity, demand will be higher than ever. Secure your spot today: visit www.AFITonline.com and schedule a time to discuss. https://www.afitonline.com/appointments
In our latest Ask the Editor round-up, Joy Taylor, The Kiplinger Tax Letter Editor, answers four questions on the OBBB and tax rates.
Ask the Editor, August 15: Tax Questions on the OBBB, Tax Rates
In our latest Ask the Editor round-up, Joy Taylor, The Kiplinger Tax Letter Editor, answers four questions on the OBBB and tax rates.
💥 Tax Changes You’ll Actually Like? Meet the One Big Beautiful Bill Act (OB3)! 🇺🇸 Here’s what it could mean for YOU: 🍽️ Tipped Workers – Get a below-the-line deduction of up to $25,000 from income earned in customary tipping jobs. Phases out starting at $150k ($300k joint AGI). ⏰ Overtime Pay – A special deduction of up to $12,500 (or $25k joint) for the extra half of OT pay. Also phases out at $150k/$300k AGI. 🧓 Seniors aged 65+ – A $6,000 deduction boost (not for disability). Begins to phase out at $75k single / $150k joint income. 🏠 Itemizers Rejoice – The SALT deduction cap jumps to $40,000 on Schedule A. 📣 Real relief, real benefits—especially if you work hard, tip hard, or are over 65.
The bill marks a key legislative victory for Trump's administration after months of negotiations with Republican lawmakers.
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One Big Beautiful Bill: What It Means for America and the World
Published on: July 2, 2025 | By: DeshCast Politics Desk The “One Big Beautiful Bill” (OBBB) is the most significant — and controversial — piece of economic legislation proposed in the United States in recent years. Championed by Donald Trump and passed narrowly by the Senate, the bill could reshape America’s fiscal future and ripple across global economies. 💡 Key Highlights of the OBBB Massive…
In a narrow 215–214 party-line vote on Thursday, the Republican-led U.S. House of Representatives approved the sweeping One Big, Beautiful Bill Act. The legislation, championed by President Donald Trump, would extend his 2017 tax cuts for another decade, paired with deep spending reductions in social safety net programs. House Speaker Mike Johnson hailed it as “transformational,” but critics warn it would gut health care and swell the national debt.
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The One Big Beautiful Bill Act passed the House, extending Trump’s 2017 tax cuts while cutting Medicaid, sparking debate over its impact.
