| What the New Tax Law Means for You – Key Individual Changes Under OBBBA |
| On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law—a sweeping tax reform package that brings significant changes for both individuals and businesses. Whether you’re a taxpayer, business owner, or both, these updates are likely to affect your tax planning and bottom line. In our first OBBBA blog post, we’re focusing on the key individual tax provisions, including: 💵 Income Tax Brackets– Middle- and upper-income taxpayers avoid a major rate increase, while low-and middle-income earners benefit from improved inflation indexing 💰Deductions – The higher standard deduction is now permanent and indexed, The SALT cap is raised, a new charitable deduction is available for non-itemizers, new limits to apply to charitable donations for itemizers and high-income earners 📝Credits – The child tax and other dependent credits have been enhanced 🪦Estate &Gift Tax – The lifetime exemption has been expanded, indexed and made permanent, offering new planning opportunities. To view the latest individual tax law updates, simply select “2025 Tax Law Changes – Individuals” button below to see a clear table comparing the old and new provisions. 2025 Tax Law Changes – Individual We’re here to help you understand how these changes apply to your situation and explore strategies to minimize your tax liability. Stay tuned for upcoming blog posts covering the business and other tax provisions in the bill. We’ll also continue to monitor IRS guidance as it’s released and keep you updated on what it means for you. Visit our Tax Resource Library on our website, where you’ll find valuable insights on a range of tax topics. Best regards, Your team at Insight Accounting Group |
Key Individual Changes Under OBBA
