The OBBBA: A GUIDE TO RECENT TAX CHANGES AND HOW THEY AFFECT YOU

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law after a contentious and drawn-out Congressional debate.¹ This is the most significant tax code change since 2017’s Tax Cuts and Jobs Act (TCJA), which is scheduled to sunset (expire) at the end of 2025. The OBBBA makes many of the provisions in the original TCJA permanent, in addition to including new provisions affecting everything from how tips get taxed to estate planning strategies.

While we admittedly haven’t read the 1000-page bill (similar to most of our Congress members), we have compiled some of the key points (both good and not-so-good) that are likely to affect our clients. To learn what the OBBBA means for you, organized by the various hats you wear in life, keep reading.