ONE BIG BEAUTIFUL BILL ACT

What You Need to Know About the OBBBA: Big Tax Changes for 2025 and Beyond

Hey Crown Keepers — some major moves just dropped in the tax world. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) became law, and it delivers sweeping tax changes that affect individuals, small businesses, and estate planning.

At Crown & Coin Wealth Management, we always operate with Service with Purpose, Accountability, Financial Empowerment, and Exceptional Transparency (SAFE). So here’s what you really need to know — no fluff, just what impacts you and your dollars.

🔍 Key Highlights from OBBBA

Below are some of the most consequential updates. Depending on your situation (individual, small business, estate, or multinational), some will matter more than others.

Area	Change	What It Means for You
Individual Tax Rates & TCJA Extensions	The OBBBA makes permanent many of the Tax Cuts & Jobs Act (TCJA) provisions that were set to expire.	Your current tax brackets (and favorable rates) won’t vanish in 2026—they’re locked in.
Standard Deduction Boost	For 2025, the standard deduction rises to $15,750 (single) and $31,500 (married filing jointly).	Many taxpayers who were leaning toward itemizing may find the standard deduction gives more benefit — but always run the numbers.
SALT Deduction Cap Raised (Temporarily)	OBBBA increases the state and local tax (SALT) deduction cap from $10,000 to $40,000 (for joint filers) for tax years 2025–2029.	If you’re in a high-tax state and your itemized deductions were capped, this gives you breathing room — but it phases down for higher incomes and reverts after 2029.
Business / Multinational Tax Provisions	Several changes: • Restores 100% bonus depreciation for qualified property placed in service after Jan. 19, 2025.  • Restores ability to immediately expense domestic R&D / experimental expenditures (rather than amortizing).  • Alters and renames international provisions — e.g. GILTI → “net CFC tested income (NCTI)” and FDII → “foreign derived deduction eligible income (FDDEI)” with revised calculation rules.  • Slight increase to BEAT (Base Erosion and Anti-abuse Tax) rate from 10% to 10.5%.	If you run a business (especially with cross-border operations), the changes will affect your tax forecasting, entity structure, and effective rates.
Estate, Gift & Generation-Skipping Transfer (GST) Taxes	The unified estate and gift tax exclusion permanently increases to $15 million (per individual), $30 million per married couple, with inflation indexing.   The GST exemption is aligned to this new level.	For wealth transfer planning — trusts, gifting strategies, etc. — the higher exclusions open up more flexibility.
New Deductions: Tips & Overtime	The law introduces a federal deduction for overtime pay (and tips) — allowing workers to deduct up to $12,500 (individual) or $25,000 (joint) (subject to phase-outs) from taxable income.	If you work overtime or rely on tips (e.g., service industry), this could lower your taxable income. (But note: payroll & FICA taxes still apply.)
Sunsets & Phase-outs	Some benefits are permanent; others are temporary. For example, the SALT ↑ is effective through 2029.  Some clean energy credits and incentives are scaled back or eliminated.	Don’t assume new perks last forever — timing is key in tax planning now.
State Tax Considerations	Even if a provision is favorable federally, your state may not automatically adopt it.  Some states will “piggyback,” others won’t — this dissonance could shift your state tax liability.	Always model federal + state together. What looks good federally may worsen your overall tax in your state.

✅ Actionable Moves to Take Now

• Revisit your withholding & estimates. The IRS’ withholding estimator has been updated for some of the new OBBBA changes (like the standard deduction and child tax credit), but many items (overtime/tips deductions, etc.) aren’t yet reflected.

• Run side-by-side tax projections. With the changes in deductions, SALT, and business rules, the best path (itemize vs standard, entity choice, etc.) may shift for you.

• Check expiration dates. Some benefits revert or phase out (like SALT increases after 2029). Use the changes now while you can.

• For business owners, especially cross-border ones: Reassess your international tax positions (GILTI / FDDEI / NCTI), capital expenditure plans to capture bonus depreciation, and R&D strategies.

• Estate & gifting review. The higher gift/estate exclusions give breathing room — review your trusts, gifting plans, and potential GRATs, IDGTs, or other vehicles now.

🛡️ Why This Matters (From a SAFE Lens)

• Service with Purpose: Not just “what changed” — but why it matters for you.

• Accountability: We’ll keep watch on how these changes evolve, especially what’s temporary vs. permanent.

• Financial Empowerment: You deserve to understand how these provisions can impact your money.

• Exceptional Transparency: Every update is broken down and sourced so you know exactly where it comes from.

⚠️ Disclaimer

This blog provides general, educational information only and should not be taken as specific tax, legal, or financial advice. Everyone’s tax situation is unique, and the OBBBA provisions may impact you differently.

👉 Please consult with your licensed tax preparer, accountant, or advisor for guidance specific to your circumstances.

If you’d like to review these updates in detail with me, you can always book a free consultation — but remember, until that happens, this is strictly general information.