Show Notes
With the approval of the One Big Beautiful Bill—also known as the Big Beautiful Tax Bill—many Americans are wondering what it means for their future. Will it benefit retirees and working families? What’s temporary and what’s permanent? And how should you respond before the window of opportunity closes?
In this episode, Ed shares why the extension of the 2017 tax cuts is a welcome relief, even though the bill’s additional government spending raises valid concerns. He unpacks how the bill affects everything from Social Security taxation and senior deductions to Roth conversions and small business tax relief. With layers of misinformation surrounding the new legislation, Ed and LeAnne clarify what’s real—and what retirees and pre-retirees need to prioritize right now.
Whether you’re confused about IRMAA thresholds, looking to optimize your Roth strategy, or wondering how estate taxes will be affected in the coming years, this episode will provide you with the clarity and context you need to make informed decisions.
In this podcast interview, you’ll learn:
- How the senior “bonus” deduction affects your taxes and when it expires.
- Why now is a critical window for Roth conversions before tax brackets revert.
- What the new bill changes for Social Security taxation and IRMAA and what stays the same.
- How small businesses benefit from the permanent QBI deduction and Section 179 expansion.
- Why having a flexible, purpose-driven plan matters more than ever.
How Fit Is Your Retirement Plan?
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