The New Tax Law - What’s In It For Me?

A new tax bill has officially passed (you’ve probably heard it mentioned as the “Big Beautiful Bill”). And while most headlines are focused on politics, we’re focused on what it means for your retirement. The choices you make in the next year or two could have a significant impact on how much you keep and how much goes to Uncle Sam. Today, David breaks down key parts that are most likely to affect retirees.

While the bill spans hundreds of pages, David zeroes in on what could matter most: a major increase to the standard deduction that could dramatically reduce taxes on Social Security for many middle-income retirees, a long-overdue expansion of the SALT deduction, and the return of a valuable tax break for charitable giving, even if you don’t itemize. This bill opens a few opportunities, but not forever. The earlier you understand what changed (and what didn’t), the more confidently you can shape your retirement strategy around it.

Here’s some of what we discuss in this episode:

🧾 Why that viral Social Security headline needs clarification

📊 How a boosted standard deduction could potentially save you hundreds or even thousands

🏠 Why SALT deduction changes could matter more in high-tax states

🙌 How non-itemizers can now deduct up to $2,000 in giving

📅 Why 2028 is an important year to keep on your planning radar