The Big Beautiful Bill: 3 Massive Changes You Need to Know
Three changes in the latest tax law and what they mean for your plan.
Read the transcript
The Big Beautiful Bill passed earlier this year and took effect July 4th, 2025. I wanna make sure you get our three big takeaways that you need to make sure you don't miss. There's a lot of nuggets in that bill, happy to talk about it more one-on-one, but three big things you don't miss.
The estate tax exemption
Number one: the estate tax exemption increased to 15 million. So for high-net-worth couples, that means you have $30 million in exemption to work with.
Benefits for business owners
Number two: for business owners, some of the pass-through expenses got reaffirmed, and some benefits there for you. QBI got affirmed; domestic expensing of R&D and the bonus depreciation on business investments also were reinstated.
Supercharged Section 1202
Third and lastly, and I think this is maybe one of the most exciting and biggest benefits of the bill, it supercharged Section 1202 in two ways. Number one, it increased the limit from 10 million to 15 million. And then, secondly, it used to be a cliff vesting, five years, and that means if you've held it for a couple of years, you still get a percentage of that tax-free, up to 15 million, versus zero. So those are three things not to miss.
Transcript edited for readability from the video. Machine-transcribed; may contain minor errors.
