SALT Cap Raised, Clean Energy Credits Ending: Adapt Your Finances to the “Big, Beautiful Bill”

NerdWallet's Smart Money Podcast

NerdWallet Personal Finance

Business, Education, Investing, How To

4.2 • 665 Ratings

🗓️ 17 July 2025

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn what the One Big Beautiful Bill Act means for your taxes, benefits, and financial planning. Then, understand how to adapt to living on disability insurance. What tax changes are coming from the federal budget bill? Can you save money while living on disability? Hosts Sean Pyles and Elizabeth Ayoola unpack the latest legislative changes to help you understand how they’ll impact your finances. Joined by senior news writer Anna Helhoski, they explain how the nearly 900-page budget bill alters the tax landscape, including extensions of Trump-era cuts, new deductions for car loan interest and tipped income, and major clean energy credit rollbacks. They also explain what the end of certain EV and solar credits means for your 2025 tax strategy and how new "Trump Accounts" for babies could factor into long-term savings. Then, personal finance Nerd Kate Ashford joins Sean and Elizabeth to help answer a listener’s question about how to manage their finances while on disability. They cover SSDI vs. SSI, saving strategies despite income limits, and whether it's possible to start a nonprofit or invest money without risking benefits. They also discuss emotional support during life transitions, who should consider disability insurance, and how to shop for a policy while you’re still healthy. Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header In their conversation, the Nerds discuss: federal budget 2025, tax cuts 2025, Trump tax cuts extension, new tax deductions 2025, car loan interest deduction, tipped income tax exemption, overtime income tax deduction, SALT deduction 2025, standard deduction for seniors, clean energy tax credits ending, EV tax credit deadline, solar panel tax credit expiration, energy efficient home improvement credit, Trump baby savings accounts, Medicaid work requirements, SNAP cuts 2028, ACA premium increases 2025, health insurance cost increase, student loan changes 2026, repayment assistance program 2026, graduate student loan limit, SSDI savings rules, how to save on SSDI, investing while on SSDI, SSDI vs SSI, work income limit on disability, disability benefits income cap, short term disability insurance, long term disability insurance, how to buy disability insurance, SSDI work expense deductions, how to qualify for disability benefits, financial planning on disability, and new tax rules 2025. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Today's episode is sponsored by Dell. Let's talk about the new Dell AI PC powered by the
0:05.2	Intel Core Ultra processor. It's not just an AI computer, it's a computer built for AI. That
0:11.6	means it's built to help do your busy work for you. So you can fast forward through
0:15.6	editing images, designing presentations, generating code, debugging code, categorizing your
0:20.3	financial transactions, running lots of apps without lag, creating code, debugging code, categorizing your financial transactions,
0:21.6	running lots of apps without lag, creating live translations and captions,
0:25.1	summarizing meeting note, extending battery life, enhancing security, finding that file you are looking for,
0:29.9	organizing your receipts, managing your schedule, meeting your deadlines, drafting financial summaries,
0:34.3	responding to Cody's long emails, leaving all the time in the world
0:38.3	for more U-time, and the things that you actually want to do. No offense, Cody.
0:43.3	Get a new Dell AI PC starting at 699 at Dell.com slash AI-PC. That's Dell.com slash AI dash PC.
0:54.0	How those ahead stay ahead.
0:56.3	A big budget bill passed Congress and the president signed it.
1:00.1	Its beauty may be in the eye of the beholder,
1:02.8	but it includes a lot of changes to the federal government's spending priorities,
1:06.7	changes that could affect your finances.
1:09.0	So today, we'll run it all down for you.
1:16.4	Music changes that could affect your finances. So today, we'll run it all down for you. Welcome to NerdWallet's Smart Money Podcast,
1:18.5	where you send us your money questions and we answer them with the help of our genius nerd.
1:22.9	I'm Elizabeth Ayala.
1:24.5	And I'm Sean Piles.
1:25.9	Later this episode, we'll be answering a listener's question about how to save when you're on disability and what we should all know about disability insurance. But first, our weekly Money News Roundup, where we break down the latest in the world of finance to help you be smarter with your money. In a moment, our news colleague, Anna Hal Hoski, will join us to talk about the recent budget bill that passed in Washington.
	...

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