From Brackets to Benefits: H.R. 1 Individual Tax Deep Dive

Overview

Part of the H.R. 1 Tax Masterclass Series, this session covers the major individual tax changes under H.R.?1, also known as OBBBA. 

We'll begin with:

• State and local tax (SALT) itemized limits and the temporary cap boost
• Bracket creep and the fixed 37% top rate compared to inflation-indexed lower brackets

From there, we’ll explore temporary deductions, including:

• The senior deduction
• Car loan interest, tech, and gig economy write-offs
• A new above-the-line deduction for tips and overtime 

We'll also:

• Review planning scenarios for family credits ahead of the 2025 transition
• Review current compliance and reporting changes
• Compare "Trump accounts" to Roth IRAs and 529 plans. 

The session wraps with tax planning strategies to help clients manage deduction phaseouts and prepare for 2026 rule changes.

Prerequisites

Fundamental knowledge of the new H.R. 1 tax bill, commonly referred to as OBBBA.

Highlights

• SALT deduction cap increase
• Family credits
• Compliance and reporting changes
• Tax planning synthesis 
• Employee benefits
• "Trump accounts"