In this special solo episode, Melissa Joy, CFP®, CDFA, breaks down the newly passed One Big, Beautiful Bill Act—yes, that’s really the name!

Signed into law on July 4th, this sweeping piece of legislation (affectionately nicknamed “OB3”) will impact everything from your tax brackets to your charitable deductions, and much more in between.

Whether you’re a retiree, parent, small business owner, or high earner, Melissa walks through what’s changing, what’s staying, and what you need to know to navigate the financial road ahead.

⚖️ Key Topics Covered:

• 🧾 Tax Brackets & Deductions: 2017 rates are now made “permanent,” with small tweaks and no sunset provisions—yet.
• 👵🏽 Seniors Win Big: A new $6,000 deduction and reduced taxation on Social Security (but only for four years…for now).
• 👶🏽 Families with Kids: Increased child tax credit and the introduction of a new “Trump Account” for minors.
• 🏠 Homeowners & Itemizers: Mortgage interest deduction remains capped at $750K—but now includes mortgage insurance premiums.
• 💸 SALTs Revived: The state and local tax deduction cap is increased to $40,000 for many, offering potential relief for homeowners in high-tax states.
• 🍽️ Tipped & Hourly Workers: Temporary deductions for tips and overtime income, subject to income thresholds.
• 🚗 New Car Loan Deduction: But only for U.S.-assembled vehicles purchased after 2024 and under strict income limits.
• 🌱 Clean Energy Credits: Act fast—many are phasing out earlier than expected.
• 🏛️ Estate & AMT Revisions: Estate tax exemptions rise to $15M per person in 2026, and AMT thresholds shift downward.
• 👩🏽‍💼 Small Business Owners: Expanded access to deductions like Section 179, QBI (199A), family leave credits, and retirement plan incentives.
• 🎓 Student Loans & 529s: Parent PLUS loans capped; 529 plans expanded for apprenticeships, therapy, and some non-degree programs.

📬 Resources Mentioned:

• Melissa’s deep-dive blog post on OB3

The previous presentation by PEARL PLANNING was intended for general information purposes only. No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING’s investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING’s current written disclosure Brochure discussing our advisory services and fees is available upon request or at https:...