In this episode of the Sunlight Tax podcast, I break down the One Big Beautiful Bill Act and what it means for student loan borrowers. Learn about the new student loan borrowing limits, updated repayment plans, and the challenges facing legacy borrowers under the new law.

If you’re navigating student debt, education financing, or tax law changes, this episode gives you the clarity and resources you need to make informed financial decisions.

Also mentioned in today’s episode:

01:00 Introduction to the One Big Beautiful Bill Act

06:42 New Borrowing Caps and Repayment Plans

13:31 Navigating Legacy Borrower Challenges

Takeaways

• New student loan borrowers will have only two repayment options after July 2026.

• The SAVE program is ending, impacting many borrowers.

• New lifetime caps on borrowing for education will be implemented.

• Half a million borrowers may see increased payments due to changes.

• Low and middle-income students may struggle with graduate school costs.

• The RAP plan offers more flexible repayment options for borrowers.

• It's crucial to stay informed through reliable resources and articles.

• Navigating student loans requires careful consideration and action.

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Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Other Sunlight Tax podcast episodes about OBBBA:

• Unpacking Trump’s New Tax Law: What You Need to Know About the One Big Beautiful Bill Act

• Breaking Down Trump’s New Tax Law: Cars, New Loan Interest Deduction, and Expiring Energy Credits

• New Tax Bill: No Tax on Tips, No Tax on Overtime, and New Deduction for Seniors

Links:

Help article by Tara Siegel Bernard from the New York Times

This article on the NPR website, by Cory Turner

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

Check out my program, Money Bootcamp

In this episode of the Sunlight Tax podcast, I break down the One Big Beautiful Bill Act and what it means for taxpayers like you. I explain the campaign promises written into this bill—including the “no tax on tips” provision, the “no tax on overtime” benefit, and the new deductions available for seniors.

My goal is to help you clearly understand how these changes may impact your taxes, your income, and your financial planning. If you want to stay ahead of new tax laws and make the most of these opportunities, this episode is for you.

Also mentioned in today’s episode:

03:13 Campaign Promises and Tax Deductions

06:15 Understanding the No Tax on Tips Provision

19:52 Exploring the No Tax on Overtime Provision

Takeaways

• The One Big Beautiful Bill Act (OBBBA) was passed on July 2nd.

• The bill includes several campaign promises related to tax deductions.

• A new higher standard deduction for seniors is introduced.

• The no tax on tips provision benefits higher income tipped workers.

• Only qualified tips are eligible for the new deduction.

• The no tax on overtime provision allows deductions for overtime pay.

• The deductions expire in 2029, providing limited time benefits.

• Tax equity is a significant concern with the new provisions.

• The bill's provisions are retroactive to January 1, 2025.
  

If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Other Sunlight Tax podcast episodes about OBBBA:

• Unpacking Trump’s New Tax Law: What You Need to Know About the One Big Beautiful Bill Act

• Breaking Down Trump’s New Tax Law: Cars, New Loan Interest Deduction, and Expiring Energy Credits

Links:

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

Check out my program, Money Bootcamp

In this episode, I dive into the new tax law called the One Big Beautiful Bill Act, focusing on two major updates: the car loan interest deduction and the expiring energy tax credits. I explain why understanding these new tax rules matters, especially if you’re considering a clean vehicle tax credit or planning energy efficiency improvements for your home.

With key deadlines approaching, I want to give you clear, actionable insights so you can maximize your tax benefits and make the most of these opportunities before they expire.

Also mentioned in today’s episode:

01:00 Overview of the One Big Beautiful Bill Act
03:37 New Car Loan Interest Deduction
13:04 Expiring Energy Credits and Deadlines

Takeaways

• The new tax law is called the One Big Beautiful Bill Act.

• There are new deductions for car loan interest starting in 2025.

• Tax credits for clean vehicles are expiring soon.

• The deadline for clean vehicle tax credits is September 30th.

• The car loan interest deduction is only applicable to new cars.

• You must have the VIN number to claim the car loan deduction.

• Energy efficiency improvement credits are also expiring soon.

• The residential clean energy credit is set to expire in 2025.

• Commercial vehicle tax credits are available for businesses.
  

If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Other Sunlight Tax podcast episodes about OBBBA:

• Unpacking Trump’s New Tax Law: What You Need to Know About the One Big Beautiful Bill Act

• New Tax Bill: No Tax on Tips, No Tax on Overtime, and New Deduction for Seniors

Links:

VIN decoder

Check out my program, Money Bootcamp

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

In this episode of the Sunlight Tax podcast, I talk about Trump’s new tax law, officially called the “One Big Beautiful Tax Bill.” I break down its key points, how it impacts different income groups, the updates to clean energy tax credits, and what it means for self-employed people and freelancers.

I also emphasize why it’s so important to understand tax laws, and I encourage you to share this information with anyone who might benefit from it.

Also mentioned in this episode:

00:00 Introduction to the New Tax Bill

04:13 Overview of the Tax Bill's Key Points

11:49 Impacts on Low-Income and Wealthy Households

18:55 Changes to Environmental Credits and Clean Energy

19:50 Implications for Self-Employed and Freelancers

Takeaways

• The new tax bill is officially called the 'one big beautiful tax bill.'

• I aim to provide clear, fact-checked information about tax laws.

• The bill extends provisions from the Tax Cuts and Jobs Act of 2017.

• It is expected to increase the federal deficit by $3 to $4 trillion.

• The bill primarily benefits households with incomes over $500,000.

• Medicaid cuts are expected to save $900 billion.

• The child tax credit has been increased from $2,000 to $2,200.

• Many environmental tax credits from the Inflation Reduction Act have been eliminated.

• Self-employed individuals will maintain the qualified business income deduction.

If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Other Sunlight Tax podcast episodes about OBBBA:

• Breaking Down Trump’s New Tax Law: Cars, New Loan Interest Deduction, and Expiring Energy Credits

• New Tax Bill: No Tax on Tips, No Tax on Overtime, and New Deduction for Seniors

Links:

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

Check out my program, Money Bootcamp

In this episode of the Sunlight Tax podcast, I talk with Reggie Tidwell and Tim Scroggs, the founders of the design agency 40 Hearts. We dive into their journey as designers, explore the impact of AI on the creative industry, and discuss why community and branding matter so much during times of economic uncertainty. Our conversation highlights the need for genuine human connection and the enduring value of creativity in navigating challenges.

Also mentioned in today’s episode:

02:52 Meet the Designers: Reggie Tidwell and Tim Scroggs

08:38 Creating Enduring Value in Design

11:58 Navigating Client Relationships and Brand Strategy

14:49 Building Confidence as a Designer

17:35 Embracing the Unknown in Creativity

23:55 AI and the Future of Design

29:56 Community and Connection in the Design World

32:36 The Impact of AI on Creativity and Humanity

41:19 The Importance of Intuition and Human Connection

Takeaways

• The design industry is evolving with the introduction of AI, but human creativity remains irreplaceable.

• Branding is essential for businesses, especially during economic uncertainty.

• Transitioning from a beginner to an expert designer involves gaining confidence and experience.

• AI should be viewed as a tool to enhance creativity, not a replacement for it.

• Isolation is a significant challenge for creatives, and community support is vital.

• Understanding client needs is crucial for effective branding and marketing strategies.

• Creativity thrives in environments that value human connection and collaboration.

• The future of design will require a blend of technology and human intuition.

If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Links:

Reggie Tidwell's Linkedin: https://www.linkedin.com/in/reggietidwell/

Tim Scroggs' Linkedin: https://www.linkedin.com/in/timscroggs/

40 Hearts: https://www.linkedin.com/company/40hearts/

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

Check out my program, Money Bootcamp

Today, I’m sharing an article I wrote where I give a practical financial overview and is a personal finance cheat sheet for anyone feeling overwhelmed with their finances and taxes.

Listen to this episode to get some finance tips to help you feel more secure as an entrepreneur when it comes to your money.

Also mentioned in today’s episode:

02:50 Understanding the Emotional Impact of Money

06:06 Basic Steps to Avoid Financial Disaster

08:55 Debt Management Strategies

12:37 Saving and Investing for the Future

15:52 Empowerment Through Financial Knowledge

If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Links:

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

Check out my program, Money Bootcamp

In this episode of the Sunlight Tax Podcast, I had the joy of interviewing my daughter, Farrah, about her very first job and everything she’s been learning about managing money. We talked about the excitement of earning her own income, the value of saving and starting a Roth IRA early, and how taxes work. We even touched on the idea of net worth.

Farrah shared some really thoughtful insights about spending wisely and why she thinks financial education is so important for kids her age (Gen Alpha). It was also fascinating to see how her perspective reflects some of the generational shifts in how we think about money.

Also mentioned in today’s episode:

03:12 First Job and Earnings Insights

06:17 Understanding Roth IRA and Compound Interest

08:56 Navigating Taxes and Financial Responsibilities

11:43 Defining Net Worth and Wealth

15:36 Lessons on Spending and Saving

18:05 The Importance of Financial Education

If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Links:

My #1 Tip to Make Your Kid a Millionaire

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

Check out my program, Money Bootcamp

In this episode of the Sunlight Tax Podcast, I’m discussing the benefits of tax-advantaged savings for children, specifically focusing on a Roth IRA for kids. I explain how parents can open a custodial Roth IRA for their kids, the advantages of a Roth IRA, and the importance of teaching children about compound interest and financial literacy.

This episode also emphasizes the long-term benefits of starting early with investments and how this can empower the next generation financially.

Also mentioned in today’s episode:

If you enjoyed this episode, please rate, review and share it!
Every review makes a difference by telling Apple or Spotify to show the Sunlight Tax podcast to new audiences.

Links:

Roth vs Traditional IRA: Does it even matter?

How to fund your IRA: Pay yourself first

Link to pre-order my book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed.

Link to pre-order my workbook, Taxes for Humans: The Workbook

Get your free visual guide to tax deductions

Check out my program, Money Bootcamp