The One Big Beautiful Bill: Key Highlights and Changes

This course provides an in-depth analysis of sweeping tax changes affecting individuals and businesses beginning in 2025 and beyond. Designed for tax professionals, this course equips learners to advise clients confidently on planning strategies, compliance, and transitional provisions resulting from this comprehensive legislative overhaul.

Upon completion, you will be able to:

• Understand permanent changes to individual tax rates and standard deductions.
• Distinguish new rules for 529 accounts (k-12 expenses, credentialing education) and Health Savings Accounts (HSA eligibility).
• Grasp the critical modifications to 1099 reporting thresholds, including 1099-NEC and 1099-K.
• Analyze changes to Qualified Business Income (QBI) deduction thresholds and the introduction of a minimum deduction.
• Identify updates in bonus depreciation, Section 179 limits, and the permanence of excess business loss limitations.
• Comprehend the new 1% excise tax on outbound remittance transfers and the permanence of bicycle commuting benefit suspension.
• Recognize the altered landscape for Electric Vehicle credits and various energy-related credits.
• Examine the new deferral option for qualified farmland sales and its installment payment structure.
• Interpret the expanded SALT limit (40,000) and its unique phase-down mechanics, as well as the implications for PTETs.
• Understand the new deductions for overtime pay, tips, and car loan interest (available to non-itemizers).
• Grasp the reinstatement and changes to mortgage interest deduction and the return of PMI deductibility.
• Navigate the new floor for charitable contributions and the deduction for state-declared casualty losses.
• Identify new educator expense deductions and the significant changes to wagering loss calculations for all taxpayers, including professional gamblers.
• Assess the modifications to the Child Tax Credit, Child and Dependent Care Credit, and the Adoption Credit.
• Appreciate the implications of "Trump accounts" (child IRAs) and updated ABLE account rules.
• Recognize the permanent status of certain TCJA provisions, including AMT exemptions and moving expense limitations.

Whether you're a tax preparer, financial advisor, or simply seeking to understand the evolving tax landscape, this course provides the essential knowledge to stay informed and ahead.