This week's blogpost - https://bahnsen.co/4m3JlJo

Navigating the New Tax Landscape with Matt Gregory

In this episode of the Thoughts and Money Podcast, host Trevor Cummings welcomes Matt Gregory, Director of Financial Planning at The Bahnsen Group, for his first appearance on the show. They explore the details and implications of a new tax bill—dubbed the One Big Beautiful Bill Act (O-B-B-B-A)—covering topics like charitable giving strategies, state and local tax (SALT) deductions, and Social Security taxation. The discussion also delves into above-the-line and below-the-line deductions, credits, and planning opportunities for different client profiles. Additionally, they discuss the impact of tips, overtime, and introduce new tax-deferred savings accounts for children. The episode underscores the importance of strategic planning and leveraging available software tools to optimize tax outcomes.

00:00 Welcome to the Thoughts and Money Podcast

00:18 Introducing Matt Gregory: From Broadway to Financial Planning

01:09 Understanding the New Tax Bill

02:28 Above the Line vs. Below the Line Deductions

07:11 Charitable Giving Strategies

17:14 State and Local Tax Deductions (SALT)

19:45 Scrutinizing the New Tax Bill

20:28 Social Security Tax Changes

22:50 Tax Implications for Tips and Overtime

25:57 Automobile Loan Interest Deductions

28:01 New Savings Vehicle for Kids

28:50 Estate Exemption and Planning

33:34 Market Reactions and Predictions

36:27 Practical Tax Planning Tips

39:47 Conclusion and Contact Information

Links mentioned in this episode: