#159 - SPECIAL EDITION...Provisions of the "One Big Beautiful Bill Act" most likely to impact your tax return

Retirement Planning Education, with Andy Panko

Andy Panko

Annuities, Taxes, Ira, Retirement Planning, Social Security, Roth Ira, 401k, Pension, Investing, Financial Planning, Roth Conversion, Tax Planning, Education

2.4 • 671 Ratings

🗓️ 8 July 2025

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

In the SPECIAL EDITION episode, Andy summarizes the key provision of the recently signed into law One Big Beautiful Act that are most likely to impact you and your tax return. The topics summarized are: Permanency of the current federal tax ratesPermanency, and a slight increase, to the current standard deduction amountsA new temporary personal exemption up to $6,000 per person 65 or olderPermanency, and a slight increase, to the lifetime gift and estate size exemptionPermanency of the curren...

Transcript

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0:00.0	We got a hot special edition episode where I'm going to summarize the key provisions of the recently signed into law one big, beautiful bill act in this the 159th episode of the Retirement Planning Education Podcast.
0:15.8	Welcome to the Retirement Planning Education Podcast, where you can learn all about IRAs and Roth IRAs,
0:22.0	employer retirement plans, taxes, Social Security, Medicare, portfolio withdrawal strategies,
0:27.8	annuities, estate planning, and much more. And now here's your host, Andy Panko.
0:33.2	Hi, everyone. Special edition episode today. I'm breaking with the convention of releasing a new
0:39.4	episode every Thursday and releasing this one, this special edition episode, midweek. This will be
0:45.8	coming out, I don't know, Monday night, Tuesday morning. I haven't yet decided, but felt it was worth
0:50.5	it. I'm going to summarize the key provisions in the recently signed into law,
0:56.6	one big, beautiful bill act that made some changes and extensions and tweaks to income tax code
1:03.9	and a bunch of other things. But I'm just going to focus on highlighting and summarizing the
1:08.5	parts of the act that are most recently likely,
1:11.9	are most likely to impact you all listening, specifically people in or near retirement,
1:16.6	as it relates to your personal income taxes.
1:19.6	Lots of good stuff here.
1:21.4	I trust you're going to like it.
1:22.3	So before I do, though, I'm confused how a cemetery can raise its funeral prices and blame it on the cost of living.
1:30.7	Let that sink in.
1:32.0	A little morbid, but I thought that was kind of funny.
1:34.6	And my big goofy smile moment is just a, I'm a super nerd, I know, but like, I smiled that this bill is finally done.
1:41.6	And like, okay, cool.
1:42.6	We now have some, there's been a lot of speculation about what this bill was and wasn't going to change.
1:49.0	One is going to be signed into law, et cetera.
	...

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