A massive new tax law just dropped, promising historic cuts and a simpler tax code. But what does it really mean for your bottom line? This isn’t just another political headline; it’s a fundamental shift that will impact your personal finances, your real estate investments, and your wealth-building strategy for years to come. On this first episode of our special series on the 5-Minute PRIME Podcast, host Martin Maxwell cuts through the noise to give you the essential playbook for the “One Big Beautiful Bill Act” (OBBBA).
Tune in to learn:
- The Real Reason This Bill Exists: Why the 2017 tax cuts were about to expire and what has now been made permanent under the new tax law.
- The 5 Biggest Changes for Your Wallet & Portfolio: A clear breakdown of the new Standard Deduction, the controversial SALT cap, the updated Child Tax Credit, and the permanent 100% bonus depreciation for investors — all central features of the new tax law.
- The Trillion-Dollar Question: Is this a genuine middle-class tax cut or a giveaway to the rich? We look at what the non-partisan experts are saying about the new tax law.
- Winners & Losers: A look at how the new tax law creates vastly different outcomes for a renter in a low-tax state versus a homeowner in a high-tax state.
Are you ready to look past the hype and understand how this historic new tax law will affect you? Subscribe now for the first chapter in our essential guide to the new tax code.
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Show Notes: New Tax Law
Key Takeaways
- A major new tax law, the “One Big Beautiful Bill Act” (OBBBA), has just been passed, making significant changes to the U.S. tax code.
- The law makes most of the 2017 individual tax cuts (from the TCJA) permanent, preventing a massive tax hike scheduled for 2025.
- Key changes include permanent tax brackets, a larger standard deduction, a temporary (but quadrupled) SALT deduction cap, and an increased Child Tax Credit.
- For business owners and investors, 100% bonus depreciation is now permanent, creating a powerful incentive to invest in new assets.
- The law is highly debated, with supporters praising the economic stability it provides and critics pointing to its projected 3.4−4.1 trillion dollar cost over the next decade.
Action Step:
- Find your most recent tax return or estimate your itemized deductions (like mortgage interest, state/local taxes, and charitable gifts).
- Look up the projected 2025 standard deduction for your filing status:
- Single: ~$15,750
- Married Filing Jointly: ~$31,500
- Compare your itemized total to the new standard deduction amount.
Mentioned in This Episode
- Laws/Acts
- One Big Beautiful Bill Act (OBBBA)
- Tax Cuts and Jobs Act (TCJA) of 2017
- Organizations
- Congressional Budget Office (CBO)
- Bipartisan Policy Center
- Tax Foundation
- Committee for a Responsible Federal Budget
- Previous Podcasts
- PRIME Podcast episode 72 on “maximizing real estate deductions.“
Challenge for Today: Private real estate syndications
- Look up your 2025 standard deduction based on your filing status (single, married, or head of household).
- Compare it to what you usually itemize on your tax return.
- See if this change will give you a simpler filing process and potentially put more money in your pocket.
