The Big Beautiful Tax Bill is making waves — and if you’re a small business owner, self-employed, or even a high-earning W-2 employee, the changes coming in 2025 could directly impact how much tax you owe (or save).
In this first video of our new tax series, we’re digging into two major updates:
✅ New tax brackets
✅ Adjusted standard deduction amounts
Watch the video here: https://youtube.com/shorts/kt_fbqsHEAQ?si=NMU7qxJG80Uap_YE
🧾 What’s Changing with the Tax Brackets?
Tax brackets are the percentage rates that apply to different levels of income. The new bill proposes shifting the brackets to a more simplified structure — and potentially lowering tax rates for many middle-income earners.
Why it matters:
- A small shift in your income bracket could result in thousands saved or owed.
- Tax planning strategies (like Roth conversions or business deductions) may need to be adjusted.
📉 What About the Standard Deduction?
The standard deduction is what most taxpayers claim instead of itemizing. For 2025, the Big Beautiful Bill increases this amount significantly.
Why it matters:
- More income becomes tax-free.
- Fewer people will benefit from itemizing (mortgage interest, property taxes, etc.).
- This could affect the value of charitable donations and medical expense write-offs.
🧠 What Should You Do Next?
This is just Part 1 of our series, but here’s what you can do right now:
- Review your 2024 income and estimate where you’ll fall under the new brackets
- Re-evaluate whether you should itemize or take the standard deduction in 2025
- Subscribe to our YouTube channel so you don’t miss Part 2: QBI Deduction Changes
📺 Watch Part 1 here →https://youtube.com/shorts/kt_fbqsHEAQ?si=NMU7qxJG80Uap_YE
📅 Book a Discovery Call → https://app.acuityscheduling.com/schedule.php?owner=14522012&appointmentType=62563958