Tax rules just changed—what’s real, what’s hype, and how should you plan?

On this episode, David is joined by Bill Harden, Associate Professor of Accounting & Finance at UNC–Greensboro, to unpack the “One Big Beautiful Bill” Act (signed July 4, 2025) and what it means for practitioners and clients this planning season. 

Episode Highlights:

Mid-year passage & why July beats January for tax changes (3:56)
New “production property” 100% bonus and the §1245 vs §1250 recapture traps (5:29)
Energy incentives: EV credits ending Sept 30, home energy credits curtailed (14:01)
Acquisition date vs placed-in-service—a big shift for credits/depreciation (17:28)
“Trump accounts” for minors: how they differ from 529s, $1k pilot, earliest funding 7/4/26 (20:56)
Tips & overtime are deductions (not exclusions) and must be reported to qualify (29:59)
Auto-loan interest deduction returns—benefits and AGI phaseouts (27:53)
SALT cap to $40k; mortgage interest cap still $750k—who itemizes now (36:11, 39:02)
2026 charitable floors, withholding/W-2 timing, state conformity watch-outs & big-picture advice (41:04, 45:15, 51:17)


Links:

For Continuing Professional Education Courses:
https://www.petersprofessionaleducation.com/

Guest — Bill Hardin (UNCG):
jwharden@uncg.edu

JamesWilliamHardenCPACHFC@gmail.com