In this video, we explore the major tax changes under the 2025 Tax Act, referred to as the One Big Beautiful Bill Act (OBBBA), highlighting permanent provisions such as the $15 million estate tax exclusion, reduced tax rates, and the Section 199A deduction for pass-through entities. In addition, the provisions cover new deductions for tips, overtime, and seniors and set a $40,000 state and local tax (SALT) cap with phaseout. Watch our video for an overview of these provisions, as this level of change may affect aspects of your income tax and wealth transfer planning.
Forvis Mazars Private Client services may include investment advisory services provided by Forvis Mazars Wealth Advisors, LLC, an SEC-registered investment adviser, and/or accounting, tax, and related solutions provided by Forvis Mazars, LLP. The information contained herein should not be considered investment advice to you, nor an offer to buy or sell any securities or financial instruments. The services, or investment strategies mentioned herein, may not be available to, or suitable, for you. Consult a financial advisor or tax professional before implementing any investment, tax or other strategy mentioned herein. The information herein is believed to be accurate as of the time it is presented and it may become inaccurate or outdated with the passage of time. Past performance does not guarantee future performance. All investments may lose money.