Disclaimer:

At approximately 12:09 in this episode, the income thresholds were misstated. The correct information is that the phase-out applies to incomes above $500,000 for single and married filing jointly, and $250,000 for married filing separately.

With the OBBBA now signed into law, we’re sitting down to walk through the good, the bad, and the ugly. The biggest takeaway is that the new bill has opened the door to some great tax planning opportunities, but you have to act soon! Most of the OBBBA’s changes expire in four years, so you have a little time and space to consider doing a Roth conversion or realize some capital gains.

We explore the impact on tax rates, estate and gift tax, deductions, tax credits, and more. After that, we dive into how Congress will pay for the OBBBA, which I guess you could say is where things go from “good” to “bad” – or even “ugly.”

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Money can be confusing, but it doesn’t have to be. When you’re able to understand the complexities, you can make better decisions to improve your daily life. Connect with us at Stone Steps Financial or Swell Financial Partners.