You’ve probably heard the buzz: the “One Big, Beautiful Tax Bill” was officially passed on July 4th—and it’s packed with major changes for business owners. But what does it actually mean for your 2025 tax return? In this episode, Barbara breaks down the bill in plain English (no IRS jargon here!) and shares how these new deductions, credits, and loopholes can save you thousands—if you know how to use them.

She also shares why this moment is a turning point in tax strategy, who wins big (spoiler: creators and high-tax state residents), and what business owners need to shift now to take advantage. 

Tune in to hear:

• What’s actually in the new tax bill and why it matters for small business owners
• The massive QBI deduction extension and how it saves you 20%
• The increase in SALT deductions (hello, Californians + New Yorkers 👋)
• Why you might owe state taxes even if you're online-only
• New rules around HELOCs, tips, overtime, and charitable giving
• Why the IRS wants to manipulate your behavior (yep, really)
• The surprise tax change for real estate investors
• What to know about the electric vehicle credit phase-out
• How charitable giving just got way more rewarding
• What AMT (Alternative Minimum Tax) means for high earners
• Why strategic planning (not just filing) is essential

Join the Write Off Your Life Masterclass: https://taxedacademy.com/woyl-mc

How To Get Involved:

Life-Changing Money is a podcast all about money. We share stories of how money has impacted and radically changed the lives of others—and how it can do the same for you.

Your host, Barbara Schreihans (pronounced ShREE-hands) is the founder and CEO of Your Tax Coach, and the creator of the Write Off Your Life Course. She is a top tax strategist, business coach, and expert in helping business owners and high-net-worth individuals save millions in taxes while increasing profits.

When she’s not leading her team, coaching clients, or dreaming up new goals for her company, you can find her drinking coffee, hanging out with her family, and traveling the world.

Grab a cup of coffee and become inspired as we hear from those who have overcome and are overcoming their self-limiting beliefs and money mindsets!

Do you have a burning question that you’d love to hear answered on a future show?

Please email it to: [email protected]

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