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Tax breaks in 2025 and how The One, Big, Beautiful Bill could change them
July 1, 2025
Categories: Estate Tax, GiftTax, SALT, Standard Deduction, The One, Big, Beautiful Bill
The U.S. House of Representatives passed The One, Big, Beautiful Bill Act on May 22, 2025, introducing possible significant changes to individual tax provisions. While the bill is now being considered by the Senate, it’s important to understand how the proposals could alter key tax breaks. Curious about how the bill might affect you? Here are seven current tax provisions and how they could change under the bill. 1. Standard deduction The Tax Cuts and Jobs Act nearly doubled the standard