What Immediate Tax Changes Are in Trump’s One Big Beautiful Bill?
Did You Know? Flowers aren’t just pretty to look at; they’re full of surprises, hidden science, and clever survival tricks. From greenhouse secrets to old-school care hacks, here are five quick facts and tips to make you see blooms in a whole new way.
President Donald Trump’s new One Big Beautiful Bill Act reshapes key tax rules for individuals, families, and business owners. At Dahl Law Group, we’re already applying these changes to help California families and business owners maximize their benefits. EXTENDING THE ESTATE TAX AND GIFT EXEMPTION Starting in 2026, estate and gift tax exemptions will rise to $15 million for individuals and $30 million for couples, up from $13.99 million and $27.98 million, respectively. This change offers more flexibility for lifetime gifts and inheritance planning, especially for business owners. EXPANDING QUALIFIED SMALL-BUSINESS STOCK BENEFITS The new law raises the QSBS capital gain exclusion from $10 million to $15 million, with inflation adjustments in 2026. It adds partial exclusions after three or four years and eases eligibility rules, enabling more small businesses to attract capital and plan exits. INCREASED STANDARD, BONUS, AND OTHER DEDUCTIONS The new law boosts deductions across the board. In 2025, the standard deduction rises to $15,750 for singles and $31,500 for couples, with higher bonus deductions for older adults. The SALT cap increases to $40,000, offering major relief for high-tax state residents, before reverting in 2030. Also
returning is the charitable deduction for non-itemizers by up to $1,000 for individuals and $2,000 for couples. TAX CREDITS FOR PARENTS The Child Tax Credit rises from $2,000 to $2,200 per child, with the $1,700 refundable portion and future inflation adjustments. A new “Trump Account” offers a one-time $1,000 credit for each child born between 2025 and 2028 to encourage early savings for education or health care. INCOME AND PAYCHECK TAX CHANGES Two new deductions target income earned through tips and overtime. From 2025 through 2028, workers can deduct up to $25,000 annually from tips and up to $12,500 annually from overtime pay. There are phase-outs due to those earning higher income, but these provisions could significantly impact taxpayers in industries like hospitality, retail, and construction, where variable income is common. GETTING THE MOST OUT OF YOUR TAXES WITH THE RIGHT TAX STRATEGY The Trump administration’s new tax bill brings sweeping changes impacting families, businesses, estate plans, and long-term goals. Reviewing these updates now can help you position your assets for maximum benefit. At Dahl Law Group, we understand how tax strategy, business ownership, and family wealth intersect, and we’re here to ensure these changes work for your future.
• The world’s largest flower is the Rafflesia arnoldii. They can grow to be over 3 feet wide!
• Roses last longer when the stems are cut at a 45-degree angle, as it helps them drink more water.
• Tulips keep growing even after they’re cut!
• Greenhouses work like nature’s incubators, trapping warmth and light so flowers can thrive year round.
• Some flowers close at night, a behavior called nyctinasty, to protect their pollen.
Do you have a friend who needs our help? When you’re done reading, give them this newsletter and recommend they scan our QR code. We can help them solve their tax, business, or estate planning problems before things get worse.
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