This course provides a focused analysis of the individual and small business provisions in H.R.1, "One Big Beautiful Bill." Tailored for tax professionals working with Form 1040 filers, the course explores impactful updates, from the no-tax-on-tips provision, to enhanced bonus depreciation - designed to inform planning strategies and compliance for the 2025 tax year and beyond.
DESIGNED FOR
CPA, EA, Tax Professional, Financial Planner, Attorney
BENEFITS
After attending this presentation, you will be able to...
• Recognize key individual and small business tax reforms introduced in H.R.1• Apply provisions such as no-tax-on-tips, no-tax-on-overtime exclusions, expanded senior deductions and car loan interest.• Evaluate planning opportunities using expanded credits, phase-outs, and entity-level deductions• Advise Form 1040 filers on compliance strategies and tax planning as these provisions take effect.
HIGHLIGHTS
The major topics that will be covered in this course include:
- Individual Taxation: Child tax credit expansion, tip/overtime exclusions, SALT cap extension
- Income & Adjustments: Tip income exclusion, overtime relief, educator expenses
- Business Taxation: Bonus depreciation, §199A expansion, interest deduction limits
- Estate & Gift Tax: Increased exemption thresholds, charitable deduction changes
- Education Incentives: Student loan discharge, 529 plan expansion, new “Trump Accounts”
- Compliance & Reporting: 1099-K threshold changes
PREREQUISITES
None