Tax Provisions of The One Big Beautiful Bill (TOBBB)

General Description:

This seminar will review the tax provisions of the One Big Beautiful Bill Act signed by President Trump on July 4, 2025, and how they will affect your clients in 2025 and the future.

Learning Objective:

After completing this course the participant will be able to:

• List the existing tax provisions that were extended by TOBBB, and their new expiration dates.
• List the existing tax provisions that were repealed by TOBBB, and their new expiration dates.
• Discuss changes made by TOBBB in existing provisions, including the Section 199A deduction for qualified business income, SALT cap, Schedule A itemized deductions and phaseout, bonus depreciation, deduction for qualified production property, qualified small business stock under Section 1202, threshold for Form 1099-K reporting of credit card payments received, and Qualified Opportunity Zones.
• Explain the new tax provisions affecting individuals that were created by TOBBB, including no tax on tips, no tax on overtime, no tax on car loan interest, and additional deduction for seniors, their expiration dates, and how they affect the AMT.
• Explain the new tax provisions affecting corporations and tax-exempt organizations that were created by TOBBB, and their expiration dates.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

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