One Big Beautiful Bill Act: What High Net Worth Families Need to Know | Ep 4

The One Big Beautiful Bill Act just became law, and at 900 pages, it's longer than War and Peace. Adam Newman breaks down the key provisions that matter most to high net worth families.We cover:How the new tax law compares to previous major legislationPermanent extension of 2017 tax cuts and current income bracketsThe expanded SALT deduction limit and income phase-outsNew charitable giving rules for itemizers and non-itemizersThe additional $6,000 deduction for taxpayers over 65Increased estate and gift tax exemptionsWhy annual tax planning is more important than ever⏱️ Timestamps: (0:33) Introduction & New Tax Bill Signed Into Law(2:08) Tax Legislation in Recent History(4:52) Individual Income Tax Brackets Maintained(6:52) Increased SALT Deduction Limit(10:49) Charitable Giving Deduction Changes(15:32) Additional $6,000 Deduction for Taxpayers Over 65(21:22) Larger Lifetime Estate and Gift Tax Exemption(25:07) Next Steps: The Importance of Annual Tax Planning#WealthManagement #TaxPlanning #EstatePlanning #RetirementPlanning #OBBBAThe Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.