One Big Beautiful Bill Act: What's in the Final Version and How to Plan for It
Overview
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4th, marks the most significant tax legislation in the past eight years. Find the key provisions and planning strategies you need to know.
Highlights
- Deductions for overtime and tips income -- limitations and application periods
- New deduction for car loan interest expense
- The state and local tax itemized deduction increase
- New phase out of itemized deductions
- Section 199A QBID deductions -- what’s changed and how to plan for it
- Bonus depreciation
- Excess business losses
- Restrictions (or lack thereof) on deducting the pass-through-entity tax (PTET)
- Permanent extensions of individual tax rates and impacts on planning
- Increases to the standard deduction and a new phase-out for itemized deductions
- Changes to the deductibility of employer-provided meals
- Estate tax changes and gifting opportunities
- Repeal of the clean vehicle credit
Prerequisites
Basic understanding of Federal taxation and related regulations
Designed For
CPAs and tax professionals in public practice.
Objectives
- Identify important provisions in the Act and planning opportunities
- Apply the new rules in tax planning for clients
Notice
- This seminar is co-sponsored and administered by the Minnesota Society of CPAs.
- Login information and eMaterials will be distributed to attendees via email 3-5 days prior to the conference and posted in the My Upcoming CPE section of the ISCPA website.
Leader(s):
Leader Bios
George Koutelieris
George Koutelieris, CPA, MS-Tax, is the managing shareholder of the CPA firm Johnson & Shute, P.S. in Bellevue, Washington. He has more than 22 years of tax accounting experience. George is a frequent lecturer for organizations providing professional education to other tax CPAs and has written and presented live courses and webinars, covering a wide range of tax topics, for the last eight years.
Greg White
Greg White, CPA, has practiced tax for more than 40 years, is licensed to practice in U.S. Tax Court and has argued cases before the Tax Court. He is founder and shareholder in the Seattle CPA firm WGN, P.S. and served as an adjunct professor at the Golden Gate University’s Seattle campus for more than 14 years. Greg has been named a “Top 50” IRS Practitioner by CPA Magazine.
Non-Member Price $129.00
Member Price $99.00