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Trump’s Big Beautiful Bill just became law. What’s actually in it? On July 4th, the biggest tax overhaul since 2017 was signed, and it’s packed with big wins for business owners. 

100% bonus depreciation, a permanent 20% QBI deduction, tax-free tips and overtime, and brand-new deductions most people haven’t even heard of. Let’s break down the Big Beautiful Bill line by line so you know exactly what’s changing, what’s temporary, and how to use it to slash your tax bill before the window closes.

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Chapters:

(00:00) Massive Tax Update Just Signed Into Law
Why the Big Beautiful Bill matters for business owners.

(01:00) Personal Tax Cuts You Need to Know

Permanent tax bracket changes, higher standard deduction, and updated child tax credit.

(05:19) SALT Cap Raised to $40K

State and local tax deduction cap temporarily increased for earners under $500K.

(09:48) Trump Accounts & Charitable Giving Changes
New tax-deferred savings for kids and updated rules for non-itemizer donations.

(11:50) Business Deductions: QBI, Bonus Depreciation, Section 179

Key write-offs expanded or made permanent for business owners and investors.

(15:46)  Estate Tax, Opportunity Zones, and Green Credit Cuts

Higher estate exemptions, permanent Opportunity Zone rules, and energy credit rollbacks.

Podcast Host:

Mike Jesowshek, CPA – Founder and Host of Small Business Tax Savings Podcast
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🎙 ABOUT THE PODCAST
The Small Business Tax Savings Podcast is your go-to resource for cutting-edge tax strategies to help entrepreneurs legally slash their tax bills. Hosted by Mike Jesowshek, CPA, this show breaks down complex tax topics into clear, no-fluff insights so you can keep more of your hard-earned money.