The latest on Trump's "One, Big, Beautiful Bill" & how your taxes may change. Get a Tax Plan: https://mycpacoach.com/contact/ Bill Draft: https://mycpacoach.com/wp-content/uploads/2025/05/one-big-beautiful-bill-draft.pdf Bill Summary: https://mycpacoach.com/wp-content/uploads/2025/05/bill-summary.pdf The House Committee on Ways & Means has released an official draft of their proposed legislation, titled “The One, Big, Beautiful Bill” which, if passed, would be one of the biggest tax cuts in US history. This bill is proposing to reduce tax rates and increase your favorite deductions to minimize your taxes, like the standard deduction, the QBI deduction, BONUS DEPRECIATION, and many more provisions that people have been desperately hoping to see. So as a licensed CPA that has been updating you on every new progression with Trump’s tax plan, I want to share the biggest surprises in this bill and the biggest tax changes you need to know to maximize your tax benefits if and when this passes. #taxbill #trumptaxes #trumptaxcuts #taxnews New Tax Bill: (0:00) Lower Tax Rates: (1:14) New Standard Deduction: (1:52) No Tax On Tips: (2:41) No Tax On Overtime: (3:09) What About Social Security?: (3:30) New Car Interest Deduction: (4:10) New HSA Deduction Limits: (4:36) New 529 Plan Rules: (5:30) SMBS & Investors: (6:07) New QBI Deduction: (6:34) 100% BONUS DEPRECIATION: (7:30) Opportunity Zone & R&D Credits: (9:15) No Corporate Tax Reduction?: (10:20) What Happens Next: (10:55)