2025 OBBB Tax Update: Individuals & Business

Description

This course will provide a detailed analysis of provisions contained in the OBBB which will take affect for tax year 2025. In addition to hot topics, No Tax on Tips, No Tax on Overtime, and No Tax on Car loan Interest, we'll discuss changes to standard deductions, the new $6,000 exemption for seniors, increases for the child tax credit, childcare credit, and more. On the deduction side, the increased SALT deduction, charitable contributions for non-itemizers, plus a new credit for certain charitable contributions. We'll review the timeline for terminating energy credits, plus business provisions for QBI, the R & D credit, depreciation, etc.

Learning Objectives

1) Review current 2025 provisions for OBBB.

2) Learn expected rules and processes for implementing any new tax law changes.

3) Develop up-to-date 2025 tax planning moves for your individual and business clients.