The One Big Beautiful Bill Act (OBBBA) changes reporting thresholds for Forms 1099-K, 1099-MISC and 1099-NEC. These changes will reduce the number of forms required, lowering the amount of administrative…
Archives for August 2025
Estate Planning Under the One Big Beautiful Bill Act
The One Big Beautiful Bill Act (OBBBA) significantly reshapes the estate planning landscape by permanently increasing the lifetime gift and estate tax exclusion to $15 million per individual or $30…
New Tax Deduction for Seniors
The One Big Beautiful Bill Act (OBBBA) introduces a new tax deduction for senior taxpayers. Beginning with tax year 2025, if you are 65 years old or older, you can…
Excise Taxes on Excessive Compensation for Tax-Exempt Organizations
The One Big Beautiful Bill Act (OBBBA) contains several provisions that affect tax-exempt organizations, one of which impacts the excise tax imposed on excess compensation. Excess Compensation Changes Under Section…
Qualified Opportunity Zones
The One Big Beautiful Bill Act (OBBBA) introduces multiple changes to the Qualified Opportunity Zone program, which will benefit investors and those living in Qualified Opportunity Zones. What are Qualified…
