{"id":7028503,"date":"2026-08-05T12:04:20","date_gmt":"2026-08-05T12:04:20","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/the-big-new-tax-bill\/"},"modified":"2026-08-05T12:04:20","modified_gmt":"2026-08-05T12:04:20","slug":"the-big-new-tax-bill","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7028503","title":{"rendered":"The Big New Tax Bill"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<div>\n<p class=\"x_MsoNormal\" data-olk-copy-source=\"MessageBody\">As you\u2019ve probably heard, the One Big Beautiful Bill Act (the \u201cBill\u201d) was signed into law on Friday, July 4<sup>th<\/sup>. This bill changes many aspects of the current tax law. It will likely be several months for the IRS to issue final regulations and for tax professionals to fully unpack and analyze the changes and new opportunities.<\/p>\n<p>The Bill will affect both businesses and individuals.\u00a0 Much hyped changes such as raising the state and local tax (SALT) deduction cap, no tax on tips, and no tax on overtime are significant changes to current rules.\u00a0 Along with all the other provisions in the Bill, tax reporting will change along with tax planning and strategies.<\/p>\n<p class=\"x_MsoNormal\" data-olk-copy-source=\"MessageBody\">Every client\u2019s tax situation is different, and we\u2019re excited to help you navigate the new rules and optimize benefits in the Bill. There\u2019s a lot of guidance still needed until we\u2019re able to properly advise you on the changes.\u00a0 We will provide updates as more details are forthcoming and please reach out to us if you have any questions or want to discuss specifics in more detail.<\/p>\n<\/div>\n<\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>As you\u2019ve probably heard, the One Big Beautiful Bill Act (the \u201cBill\u201d) was signed into law on Friday, July 4th. This bill changes many aspects of the current tax law. It will likely be several months for the IRS to issue final regulations and for tax professionals to fully unpack and analyze the changes and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7028504,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11759],"tags":[1022,6795,7356],"dealstore":[],"offerexpiration":[],"class_list":["post-7028503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting","tag-big","tag-bill","tag-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Big New Tax Bill - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=7028503\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Big New Tax Bill - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"As you\u2019ve probably heard, the One Big Beautiful Bill Act (the \u201cBill\u201d) was signed into law on Friday, July 4th. 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