S CORP, C CO
On May 22, 2025, the U.S. House of Representatives passed the One Big Beautiful Bill Act (OBBBA) on a 215–214 vote. It is a comprehensive budget reconciliation package, championed by President Donald Trump. Key Provisions and Objectives The OBBBA aims to extend and expand upon the 2017 Tax Cuts and Jobs Act (TCJA), which is set to expire at the end of 2025. Notable provisions include: • Tax Relief Measures: Permanently extending individual and corporate tax cuts, increasing the child tax credit to $2,500 through 2028, and introducing tax exemptions for tips and overtime pay. • Business Incentives: Restoring full expensing for domestic research and development costs and extending 100% bonus depreciation through 2025. • NEW TAX BILL AND NEW
RETRO HABITS MAKE MODERN LIFE (AND PRICES) EASIER In a world where you can have anything delivered in a day, it’s easy to forget that less can be more. But our grandparents and great-grandparents knew the art of stretching a dollar. These timeless frugal habits aren’t just budget- friendly; they’re resourceful and surprisingly satisfying. Ready to channel your inner penny-pincher? Let’s bring these throwback habits back to life. Mend it, don’t end it. Once upon a time, people didn’t just toss a sock with a hole. Instead, you sewed it right back up! No need to rush to the store — just a few basic mending skills can save you from countless unnecessary purchases. It’s also more empowering to fix something with your own hands than tossing it — not to mention much more eco-friendly. Master the magic of homemade meals. Fast food might be convenient, but cooking from scratch is where the real savings (and flavor) happen. Think soups from veggie scraps and hearty meals made from simple pantry staples. Not only does it cut costs, but it puts you in control of your ingredients and nutrition — a win-win. Reinvent your leftovers. Gone are the days of letting food wilt in the fridge. Old-school frugal folks gave every last bite a second act. Roast chicken becomes broth. Rice gets turned into stir-fry. Stale bread transforms into French toast or bread pudding. Get creative! You’ll waste less and eat better. Choose cash over card. There’s something about handing over $20 cash that makes you think twice before spending it. Cash budgeting may feel outdated, but it’s one of the simplest ways to curb impulse buys. Envelopes marked for groceries, gas, or coffee dates give you a clear snapshot of your spending — and what’s left. No more senseless swiping! Save with secondhand savvy. Hand-me-downs were once a household norm! Today, thrift stores and vintage finds are trending again, and for good reason. Whether it’s clothing, furniture, or kitchenware, buying secondhand is kinder to your wallet and the planet.
Social Program Reforms: Implementing stricter work requirements for
GARLIC PARMESAN SHRIMP Inspired by CooktopCove.com
So, channel some old-school genius and start living a frugal, intentional lifestyle!
2
630-832-6500 | 877-4-IRSLAW
Published by Newsletter Pro •
Made with FlippingBook Ebook Creator