One Big Beautiful Bill Passes: Everything You Need to Know

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Federal Tax Updates

Roger Harris, EA and Annie Schwab, CPA

72 episodes

3 days ago

CPAs, Enrolled Agents, and Tax Preparers can keep up-to-date with the latest federal tax information while earning NASBA approved CPE credits and IRS approved CE credits by listening to the bi-weekly Federal Tax Updates podcast. The hosts Roger Harris and Annie Schwab have over 75 years of tax experience between them, which has been featured in various media outlets including Wall Street Journal, USA Today, The Morning Business Report, Bloomberg Business News, and Accounting Today.

All content for Federal Tax Updates is the property of Roger Harris, EA and Annie Schwab, CPA and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

One Big Beautiful Bill Passes: Everything You Need to Know

Federal Tax Updates

1 hour 2 minutes

4 months ago

One Big Beautiful Bill Passes: Everything You Need to Know

Washington DC tax expert Thad Inge joins the show again for a deep dive into the Big Beautiful Bill. He breaks down the tax legislation that extends TCJA provisions and introduces new benefits like tax-free tips and overtime. Together with Annie and Roger, they explore the surprising speed of the political process, the complex implementation challenges ahead, and what small business owners and individuals need to know right now. From ERC changes to new car loan deductions, this comprehensive breakdown separates the reality from the hype surrounding one of the most significant tax bills in recent years.

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(00:00) - Welcome to Federal Tax Updates
(02:14) - Overview of the Big Beautiful Bill
(02:43) - The Legislative Process and Political Dynamics
(06:53) - Key Provisions and Extensions in the Bill
(09:33) - Tax Policy vs. Political Strategy
(11:33) - State and Local Tax (SALT) Debate
(17:25) - Cost and Budget Considerations
(26:24) - New Tax Provisions: Tips and Overtime
(29:07) - Implementation Challenges and Guidance
(34:18) - Transition Relief and State Standards
(37:16) - Overtime and Salary Dynamics
(38:17) - IRS Withholding Rules
(42:24) - Employee Retention Credit (ERC) Updates
(48:17) - Business Deductions and Expensing
(52:22) - New Tax Provisions for Seniors and Car Loans
(54:59) - Energy Credits and Legislative Negotiations
(56:35) - Final Thoughts and Future Outlook

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Connect with Thad Inge
LinkedIn: https://www.linkedin.com/in/thad-inge-9342155
Website: https://www.vsadc.com/

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Roger Harris
Annie Schwab

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