On July 4th, Congress enacted the One Big Beautiful Bill Act (“OB3”), one of the most significant tax reform packages in recent history. OB3 introduces far-reaching changes that will impact income, estate, charitable, and business planning for years to come. Key highlights include:
- Estate, Gift & GST Tax Exemptions: Permanently increased to $15 million per person starting in 2026, indexed for inflation.
- TCJA Provisions Made Permanent: Many core tax benefits from the 2017 Tax Cuts and Jobs Act—such as the 37% top income tax rate, 20% pass-through deduction, and 100% bonus depreciation—are now permanently extended.
We have prepared a high-level summary of these changes and what they could mean for your family’s planning:
Click here to read more.