In this episode of the Financially Fit Couple podcast, host Matthew Gray welcomes Billy Hay to discuss the latest changes in tax legislation and what they mean for busy married couples with kids. 

They dive deep into key topics such as adjustments in charitable giving, state and local taxes (SALT), auto loan interest deductions, clean energy credits, tip and overtime taxation, bonus depreciation, and the new Trump accounts for kids. 

They also clarify misconceptions surrounding Social Security taxation and the standard deduction. This episode is a must-listen for anyone looking to stay ahead of their taxes and understand the implications of recent legislative changes.

00:38 Introduction to Today's Topic: Tax Legislation Changes

01:53 Guest Introduction: Meet Billy Hay, CPA

04:31 Charitable Giving: New Tax Benefits

09:04 State and Local Taxes: SALT Deduction Changes

15:41 Clean Energy Credits: Act Now Before They Expire

20:02 Overtime and Tips: New Tax Rules

26:07 Bonus Depreciation: What Business Owners Need to Know

30:22 Trump Accounts for Kids: What We Know So Far

35:04 What's Not Changing: Common Misconceptions

40:03 Final Thoughts and Advice

Resources

https://www.irs.gov/credits-deductions/clean-vehicle-and-energy-credits

https://www.fidelity.com/learning-center/smart-money/standard-deduction

https://www.dykema.com/news-insights/landmark-tax-legislation-of-the-one-big-beautiful-bill-act-what-it-means-for-you.html#:~:text=For%202025%2C%20the%20deduction%20is,tax%20credit%20is%20made%20permanent.

Matthew Gray

https://www.linkedin.com/in/matthew-gray-cfp%C2%AE-5a2144134/

https://schrockfin.com/

Securities and advisory services offered through LPL Financial, a registered investment advisor, Member FINRA/SIPC