In this week’s episode of the Secure Your Retirement Podcast, hosts Murs Tariq and Radon Stancil welcome back Taylor Wolverton, CFP® and Enrolled Agent, to unpack the smaller — yet highly impactful — provisions in the One Big Beautiful Bill. While previous episodes covered the major highlights, this conversation dives deeper into the tax opportunities that may not be making headlines but could make a meaningful difference in your financial life. 

Understanding the “Permanent” Tax Rates 

Before the bill passed, every tax bracket was scheduled to increase by roughly 3%. For example, the 12% bracket would have become 15%, and the 22% bracket would have risen to 25%. The One Big Beautiful Bill halted those increases, keeping today’s lower brackets in place “permanently.” 

Of course, “permanent” in tax law depends on future congressional action, but for now, these rates provide a valuable opportunity for proactive tax planning. If you’re considering Roth conversions or other tax strategies, this may be the ideal window. 

Estate and Gift Tax Exemptions Hold Steady 

The bill also keeps the estate tax exemption at $15 million per person (or $30 million for married couples). Without this legislation, that amount would have been cut nearly in half, exposing more families to potential estate taxes. 

Most Americans won’t face estate tax liability under current rules, but this higher exemption offers breathing room for wealth transfer and estate planning strategies. 

QBI Deduction Remains in Place 

Self-employed individuals, business owners, and some rental property owners can breathe easier, the Qualified Business Income (QBI) deduction stays intact. This allows eligible taxpayers to deduct up to 20% of qualified business income, reducing taxable income and promoting small business growth. Previously, there was risk this deduction would be limited or removed altogether. 

A Boost for Charitable Giving 

Starting in 2026, even taxpayers who take the standard deduction can receive an additional charitable deduction: $1,000 for single filers and $2,000 for married couples. 
The contribution must be cash (not stock or donated items), but this change makes charitable giving more tax-friendly for millions of Americans who don’t typically itemize. 

Introducing “Trump Accounts” for Children 

For children born between January 1, 2025, and December 31, 2028, families can open new “Trump Accounts” — savings accounts seeded with $1,000 of government funds. Parents and relatives can contribute up to $5,000 per year per child, with investments limited to S&P 500 index funds. 

Withdrawals can’t begin until the child turns 18, and while full details are still emerging, these accounts could become a powerful tool for long-term savings once available in mid-2026. 

Deducting Car Loan Interest: A New Perk 

For the first time, auto loan interest may be deductible for new cars purchased between 2025 and 2028 — up to $10,000 in interest. 
To qualify: 

• The car must be new (not used). 

• Final assembly must occur in the U.S. 

• Income limits apply: $100,000 for single filers and $200,000 for joint filers. 

This deduction applies even if you take the standard deduction, offering a meaningful new benefit for qualifying buyers. 

Why Tax Strategy Matters More Than Ever 

From stable tax brackets to expanded deductions and new savings opportunities, the One Big Beautiful Bill presents a range of benefits, but only for those who plan ahead. Coordinating tax, investment, and income strategies can help you maximize these changes while avoiding costly mistakes. 

At Peace of Mind Wealth Management, our integrated planning approach helps clients navigate complex legislation with clarity and confidence. Experts like Taylor Wolverton ensure every client’s financial plan aligns with the latest tax opportunities and long-term goals. 

Ready to Explore Your Tax Strategy? 

If you’re wondering how these updates affect your plan, schedule a 15-minute call with one of our advisors at POMwealth.net.