One Big Beautiful Bill Impact on Social Security & Overall Tax Planning | Balance Wealth Webinar Series

This month Nora and Bob break down the recently passed One Big Beautiful Bill Act—sometimes called OBA, OB3, or OBBBA—and explain what it really means for taxpayers, retirees, and families.

From tax brackets to deductions, Social Security to the new Trump Accounts, this conversation covers the biggest updates you need to know and how they could affect your financial planning in the years ahead.

What You’ll Learn:

📈 Tax Rates Extended – Why marginal tax brackets aren’t increasing in 2026 and what this means for Roth conversions.

🧾 Standard Deduction Changes – How higher deductions simplify tax filing and when they take effect.

🏠 SALT Deduction Expansion – What the new $40,000 cap means for high property tax and high-income states.

⏳ Overtime & Tips Exemption – A temporary tax break for workers through 2028.

👵🏼 Senior Deduction Explained – Why Social Security isn’t really “tax-free” but retirees 65+ still benefit from a new $12,000 deduction.

🎗️ Charitable Contribution Updates – Deductions for non-itemizers starting in 2026.

👶🏼 Trump Accounts – New retirement-style accounts for children under 18, including rules, contribution limits, and a pilot program that seeds $1,000 for kids born between 2025–2028.

Why It Matters

Whether you’re planning for retirement, supporting your kids or grandkids, or just trying to understand what these new rules mean for your tax bill, this episode provides practical insights and real examples to help you prepare.

—

📺 Did you know our new show just dropped? 📺

Balance Your Wealth is now live on YouTube—bringing you fresh conversations around wealth and life.

We’re dropping new episodes bi-monthly on the 2nd and 4th Wednesday of every month, so make sure to subscribe and never miss an update.

👉 Drop a comment with your mid-year financial goals—we’d love to hear them!

#BalanceYourWealth #Finance #WealthManagement #Investing #TaxPlanning