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🚨 TAX WATCH: What’s Next After the July 4th Bill?

President Trump just signed a major tax and spending bill extending key parts of the 2017 Tax Cuts and Jobs Act—but several critical provisions were left out. Now, talk is heating up about a second federal tax package for FY2026. Here’s what could be on the table:

💸 ACA Premium Tax Credits – Could expire without renewal, impacting 20M+ Americans. Estimated cost: $30B/year.

🏙️ New Markets Tax Credit – Supports investment in underserved communities. Renewal status: TBD.

💼 Work Opportunity Tax Credit – Incentivizes hiring from marginalized groups. Future uncertain amid shifting DEI policies.

🎰 Other Possibilities:

Gambling loss deduction tweaks

Higher QBI deduction

Ending double taxation for Americans abroad

With midterms looming, Congress may move fast. Stay tuned—these changes could reshape everything from healthcare costs to hiring incentives.

📢 Taxpayers, Take Note! The “One Big Beautiful Bill” is here — and it’s changing the game for 2025. Here’s what you need to know:

✅ Standard Deduction Boost

$750 for singles

$1,125 for heads of household

$1,500 for married couples filing jointly

🧂 SALT Deduction Expansion Cap raised from $10K to $40K Phases out starting at $500K income

🌱 Clean Energy Credits Wind Down 30% rebate for solar/geothermal ends Dec 31, 2025 EV credit ends Sept 30, 2025

👵 Senior Bonus Extra $6,000 deduction for 65+ Phases out at $75K (single) / $150K (joint)

💼 Other Highlights

Tip income & overtime pay get temporary relief

New savings account for kids

Estate & gift tax exemption increased

TCJA brackets made permanent

📞 Call 512-222-5599 or 512-903-9369 📧 Email: [email protected]

🗓️ Schedule your free consultation with PointSquare Tax Services today!