315: Busting Myths and Misconceptions About the Big Beautiful Bill

Misinformation about the One Big Beautiful Bill was rampant even before it was signed into law on July 4. Joining us to separate fact from fiction about several provisions of the bill is Lauren Landolfi, CPA, shareholder and tax department practice leader at WilkinGuttenplan.  Topics discussed:Myth 1: There are no federal taxes on Social Security incomeMyth 2: The new $40,000 SALT deduction cap is just for married filersMyth 3: There are no taxes on overtime or tipsMyth 4: There are no changes to the deductibility of charitable contributionsMyth 5: Gamblers can continue to deduct all of their lossesMyth 6: I still don’t need to worry about the AMT Resources:Events and information about the One Big Beautiful Bill ActSocial Security Administration press release