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Tax Deductions Tax Planning Tax Exemptions

Sullivan & Worcester

The O3BA -- Mixed Incentives for Charities and Their Donors

Sullivan & Worcester on

The One Big Beautiful Bill Act (the “O3BA”), signed into law on July 4, 2025, affects charitable donors and the organizations they support. While most relevant provisions apply for tax years beginning on or after January 1,...more

Cozen O'Connor

What Canadian High Net Worth Families Should Know About the U.S. One Big Beautiful Bill

Cozen O'Connor on

The United States recently passed tax legislation called the One Big Beautiful Bill Act (OBBBA), a follow-up to the 2017 Trump tax cuts. While the bill is American, many Canadian families with cross-border ties, including...more

Cozen O'Connor

The Big Beautiful Bill: What Every High Net Worth Family Needs to Know

Cozen O'Connor on

The One Big Beautiful Bill Act (OBBBA), signed by President Donald Trump on July 4, 2025, brings sweeping changes to the tax code. While the name may sound like a marketing pitch, the law itself includes significant updates...more

Cole Schotz

One Big Beautiful Bill (OBBB) Results in Major Estate and Income Tax Changes

Cole Schotz on

After months of intense negotiations, on July 4, 2025, the One Big Beautiful Bill (OBBB) was signed into law making various changes to the tax code that impacts estate, gift and income tax planning. Increased Estate, Gift...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

McCarter & English, LLP

One Big Beautiful Bill Act Tax Law Updates–Private Educational Institutions and Nonprofits

On July 4, 2025, President Trump signed into law legislation commonly referred to as the “One Big Beautiful Bill Act” (OBBBA), which includes provisions that specifically affect private primary, secondary, and post-secondary...more

Troutman Pepper Locke

The One Big Beautiful Bill Act: Analysis of Key Provisions for the Real Estate Industry

Troutman Pepper Locke on

On July 4, 2025, President Donald Trump signed H.R. 1 into law, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Act). As discussed in our prior alert released following the passage by the House of...more

Husch Blackwell LLP

Estate Planning and Other Tax Strategies under the One Big Beautiful Bill Act

Husch Blackwell LLP on

President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law on July 4, 2025. The OBBBA represents a significant overhaul of the U.S. tax system, making permanent many provisions of the 2017 Tax Cuts and Jobs...more

Lowenstein Sandler LLP

One Big Beautiful Bill and Three Key Planning Notes

Lowenstein Sandler LLP on

Last week, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBBA). At nearly 900 pages in length, OBBBA’s size lives up to its name by enacting sweeping changes to estate and gift taxes, income taxes,...more

Gould + Ratner LLP

Your Guide to the Tax Implications of the One Big Beautiful Bill

Gould + Ratner LLP on

The Tax Cuts and Jobs Act (“TCJA”), which was signed into law on December 22, 2017, made some of the most significant changes to the tax law since the Tax Reform Act of 1986. Absent further legislation, many of the provisions...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

McDermott Will & Schulte

Key One Big Beautiful Bill Act implications for family offices and high-net-worth investors

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA), the most significant US tax overhaul since the 2017 Tax Cuts and Jobs Act (TCJA). The OBBBA includes critical changes impacting family offices,...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

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Unpacking the One Big Beautiful Bill: What Changes Are Required to Optimize Your Estate Plan?

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (“OBBBA”) into law. The OBBBA is the tax and budget reconciliation package for the current 2025 fiscal year through 2034. While the bill focuses primarily...more

Mintz - Tax Viewpoints

QSBS Benefits Expanded Under One Big Beautiful Bill Act

Mintz - Tax Viewpoints on

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA), which included revisions to Section[1] 1202 for “qualified small business stock” (QSBS) unchanged from those initially introduced in the...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

Chambliss, Bahner & Stophel, P.C.

Tax Break Helps Pay for CCRC Fees

A lesser-known financial upside of Continuing Care Retirement Community (CCRCs) is the potential tax deductibility of a portion of the entrance fee and monthly fees....more

Barnea Jaffa Lande & Co.

Recognition of Undocumented Construction Costs for Capital Gains Tax in Israel

The Israel Tax Authority (ITA) recently published an addendum to the 1987 circular  with the goal of minimizing disputes with sellers of residential apartments. The addendum contains procedures addressing instances when...more

Proskauer - Tax Talks

Tax Proposals Potentially Being Considered by the U.S. House Budget Committee in Reconciliation

Proskauer - Tax Talks on

On January 17, 2025, multiple news outlets and other sources reported the existence of a memorandum circulated by the U.S. House of Representatives Budget Committee to the House Republican Caucus (the “Memorandum”) containing...more

Fleurinord Law PLLC

The Pros and Cons of Parents Claiming College Students as Dependents

Fleurinord Law PLLC on

As the back-to-school season kicks off and college students begin their fall semester, now is the perfect time to consider the financial implications of your child heading off to college. The decision of whether to claim them...more

Proskauer Rose LLP

UK Tax Round Up - September 2023

Proskauer Rose LLP on

Welcome to the September edition of the UK Tax Round Up. This month has seen interesting decisions on the salaried members rules, the scope of arrangements for the CGT rollover main tax avoidance purpose test and the...more

Ward and Smith, P.A.

Is Your Estate Plan Past Due for a Check-Up?

Ward and Smith, P.A. on

Estate planning professionals help clients look ahead and anticipate future contingencies. By necessity, however, estate plans are crafted based on laws and circumstances existing at the time they are put in place. This...more

McDermott Will & Schulte

Weekly IRS Roundup July 24 – July 28, 2023

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 24, 2023 – July 28, 2023. July 24, 2023: The IRS released Internal Revenue Bulletin 2023-30,...more

Partridge Snow & Hahn LLP

Donations Made to Nonprofit Name Image Likeness Collectives are Not Tax Exempt

In 2021, the National Collegiate Athletic Association (“NCAA”) adopted a policy that permitted student athletes to be compensated for the use of their name, image, and likeness (“NIL”). Since then, organizations have been...more

Ward and Smith, P.A.

Make Estate Planning a Point of Focus in 2022

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Even if your 2022 New Year's resolutions have long since gone by the wayside, as most have, now can and should be a time of renewed focus on family and self-betterment.  In the midst of economic uncertainty, geopolitical...more

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