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Cozen O'Connor

Changes to Itemized Deductions in the OBBBA

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On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which had narrowly passed through the United States Congress. The OBBBA makes permanent certain tax provisions that were due to expire...more

Perkins Coie

Estate Planning Provisions in the One Big Beautiful Bill Act

Perkins Coie on

Key Takeaways - 1. The Act permanently extends the doubled gift, estate, and generation-skipping tax exclusion amount to $15 million per individual and $30 million per married couple, indexed for inflation. 2. The Act...more

Verrill

Permanent Exemptions and New Deductions: What the 2025 Tax Law Means for Estate and Tax Planning

Verrill on

On July 4, 2025, President Trump signed into law the 2025 Budget Reconciliation bill, commonly known as the One Big Beautiful Bill Act (“Act”). This legislation extends several provisions from the Tax Cuts and Jobs Act...more

Miller Canfield

One Big Beautiful Bill: Effect on Exempt Organizations

Miller Canfield on

The sweeping tax package known as the One Big Beautiful Bill (OBBB), which passed on July 3 and was signed by President Donald Trump by July 4, brings notable changes for tax-exempt organizations, including new limits on...more

Kelley Drye & Warren LLP

What’s in the Newly Enacted One Big Beautiful Bill Act

On July 4, 2025, President Trump signed into law the ​“One Big Beautiful Bill Act” (the ​“2025 Act”). The Act makes permanent some provisions originally enacted in 2017 as part of the Tax Cuts and Jobs Act (the ​“2017 Act”),...more

Goodwin

OBBBA Solidifies High Estate Tax Exemptions & Charitable Giving Changes

Goodwin on

President Trump’s July 4th signing of the Opportunity, Balance, and Better Budget Act sets an increased $15 million federal estate and gift tax exclusion and generation-skipping transfer tax exemption per individual,...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Make Your Year-End Charitable Gifts to Take Advantage of Expanded Tax Benefits

Because of the hardships from the COVID-19 pandemic and several weather related events, the demand on charitable organizations has increased significantly this year, increasing the need for charitable giving. Tax benefits to...more

Rivkin Radler LLP

The Time to Plan for Tax Code Changes Is Now

Rivkin Radler LLP on

The election is only weeks away, and with it is likely to come significant changes to the tax code. Many economists anticipate that, regardless of the outcome, there will likely be tax increases to reduce the federal deficit,...more

Stinson LLP

How Charities are Motivating Donors Under the New Tax Law

Stinson LLP on

For charities, the Tax Cuts and Jobs Act enacted in December 2017 has sparked soul searching and creative solutions as concerns grow about giving challenges. ...more

Verrill

Connecticut Reacts to Federal Tax Law Reform Changes

Verrill on

The sweeping changes created by the federal Tax Cuts and Jobs Act (“TCJA”) has resulted in some states enacting their own legislation in response to the federal tax reform. On May 31, 2018, Connecticut signed into law a bill...more

Foodman CPAs & Advisors

Make your connection with the “Top 10” Tax Cut and Jobs Act Changes and be prepared for 2019!

Here are the changes from the Tax Cut and Jobs Act (TCJA) that will impact “most” Individuals when they prepare their 2018 Tax Returns in 2019...more

Bradley Arant Boult Cummings LLP

Viewpoint: Alabamians get another reason to fund tax-credit scholarships

With the Dec. 22 enactment of the federal Tax Cuts and Jobs Act, many Alabamians and companies doing business in our state should see a reduction in their 2018 federal income tax bills but, somewhat surprisingly, an increase...more

Stinson LLP

Tax Cut and Jobs Act to Cause Significant Financial Disruption to Sports and Entertainment Businesses

Stinson LLP on

On Friday, December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (the Act). While the emphasis of the Act focused on the reduction of corporate rates, and the repeal of the Affordable Care Act's...more

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