What H.R.1, “OBBBA” (Commonly Known as “The Big Beautiful Bill Act”) Means for You and Your Clients: Individual and Estate Issues

This course walks through the individual and estate tax changes created by the One Big Beautiful Bill Act (OBBBA). From sunsetting the TCJA provisions to introducing new deduction limits, credits, and savings vehicles, these reforms are wide-reaching. Practitioners will learn how income tax brackets, standard and itemized deductions, child tax credits, charitable rules, and other key areas are permanently or temporarily adjusted. We’ll also cover the new “Trump” savings accounts, rules for tip and overtime deductions, estate and gift exemption increases, and the elimination of the IRS Direct File program. Attendees will leave equipped to help individuals plan under the updated rules and avoid common pitfalls.

Who Will Benefit

CPAs, EAs, tax professionals

Key Topics

• TCJA sunsets repealed
• Individual income tax bracket adjustments
• SALT cap phase-ins and phase-outs
• Charitable and gambling deduction modifications
• Trump accounts and expanded 529 plans
• Overtime and tip income deductions
• New rules for adoption and scholarship credits
• Estate and gift tax exemption increases
• Earned Income Tax Credit certification and enforcement
• Elimination of IRS Direct File program

Learning Outcomes

• Identify which TCJA provisions have been made permanent for individual taxpayers
• Apply new standard deduction and senior deduction rules to taxpayer scenarios
• Calculate limitations on itemized deductions, including SALT and gambling losses
• Determine charitable deduction limits for both itemizing and non-itemizing taxpayers
• Identify eligibility and contribution rules for “Trump” accounts and expanded 529 plans
• Use MAGI thresholds to determine eligibility for tip and overtime deductions
• Apply updated child tax credit, dependent care credit, and scholarship credit provisions
• Recognize changes to estate and gift tax exemption amounts and administrative rules