Sai CPA Services: Key Tax Updates from the One Big Bill

A new era of tax reform has arrived.
President Trump has signed the One Big Beautiful Bill Act, a sweeping 1,200-page legislation that reshapes taxes, benefits, and business regulations. Whether you’re a business owner, working professional, or retiree, these changes will likely affect you.

At Sai CPA Services, a trusted CPA in New Jersey, we break down the key updates and explain how our tax preparation services can help you make the most of them.

What’s Changing? Here Are the Highlights:

Individual Tax Rates – Locked In

Good news! The lower rates (10%–37%) from the 2017 Tax Cuts and Jobs Act are now permanent.

Standard Deduction Gets a Boost

  • Individuals: $15,750
  • Married couples: $31,500

SALT Deduction Returns – But Not Forever

  • Deduct up to $40,000 in 2025
  • Reverts to $10,000 by 2029
    (with income limits)

Bonus for Seniors

If you’re over 65 and earn less than $150,000 (joint), you qualify for an extra $6,000 deduction through 2028.

Child Tax Credit

Now $2,200 per child, with $1,700 permanently refundable.

Tips & Overtime Deduction

  • Tips: Up to $25,000
  • Overtime: Up to $12,500 per person
    (phases out at $150k/$300k)

New Car Loan Interest Deduction

Deduct up to $10,000 for interest on loans for U.S.-assembled vehicles.

529 Plans Expanded

Use your education savings for:

  • K–12 books
  • Tutoring
  • Career training
  • Therapies

Support for Small Businesses

  • 20% income deduction is now permanent
  • Bonus Depreciation: 100% stays
  • Section 179 limit: raised to $2.5M

Estate Tax Relief

  • Estates up to $15M (single) and $30M (joint) exempt from federal estate tax starting 2026.

Education & Loan Updates

Caps have been added for federal student loans:

  • Grad students: $20,500/year, $100,000 lifetime
  • Medical/Law students: $50,000/year, $200,000 total

Immigration & Money Transfers

  • Some legal immigrants lose access to ACA/Medicaid
  • 1% tax on money sent abroad
  • ICE funding increased by $59 billion

What Should You Do Next?

Whether you’re planning for retirement, running a business, or sending your child to college—these changes can affect your financial decisions.

Let Sai CPA Services, your experienced CPA in New Jersey, help you navigate these updates with expert tax preparation services designed for real results.

Let’s Talk Strategy

This blog is for informational purposes only. For advice tailored to your specific situation, book a consultation with Sai CPA Services today.

Smart. Strategic. Stress-Free.
That’s how we do taxes.

Sai CPA Services

Professional Tax Preparation Services in New Jersey
Trusted. Experienced. Proactive.

Copyright © 2025 – Powered by SAI CPA SERVICES

SAI CPA Services offers expert tax, accounting, and financial solutions with 25+ years of experience. We ensure accuracy, compliance, and growth.

Copyright © 2025 – Powered by SAI CPA SERVICES