2025 Tax Changes

Happy New Year! “One Big Beautiful Bill Act” (OBBBA), signed in July 2025, which made many existing tax provisions permanent and introduced several new, temporary deductions and adjustments. Key Take Aways: SALT Cap increased to $40K from $10K, Seniors get an additional deduction of $6,000, First $25K of tip income non-taxable, First $12.5K of overtime non-taxable. MORE TO COME!! Anthony Imbimbo, CPA 619-497-1040