On July 4, 2025, the One Big Beautiful Bill (OBBB) was officially signed into law, ushering in a wide range of tax and policy changes that are expected to affect nearly everyone – families, workers, seniors, and business owners alike. During our latest Quarterly Market Update Webinar, our Portfolio Manager, Charles “Chad” NeSmith, CFA, CFP®, and Wealth Advisor, Franklin Gay, CFP®, EA, reviewed recent market activity and provided insights into how the legislation, along with broader economic trends, may shape financial planning strategies in the months ahead.
The webinar featured an overview of asset class performance and a discussion on whether or not gold serves as a reliable hedge against inflation. Chad and Franklin also examined labor market data from January through June 2025, highlighting employment trends across various industries and considering how shifts in hiring patterns may influence the Federal Reserve’s decision to cut interest rates.
A substantial portion of the conversation focused on the One Big Beautiful Bill, which aims to expand and make permanent several provisions introduced under the Tax Cuts and Jobs Act of 2017. Among the key changes discussed were the increase in the State and Local Tax (SALT) deduction cap, the higher estate and gift tax exemption thresholds aimed at preserving generational wealth, and updates to senior tax deductions, clarifying that these age-based deductions apply to individuals aged 65 and older and are often misunderstood as being solely tied to Social Security benefits.
Chad and Franklin also covered how the bill’s various temporary and permanent provisions may impact taxpayers across different stages of life and income levels. From working families and retirees to business owners planning for succession, these updates reflect a broad-based effort to reshape parts of the tax code with long-term implications.
Watch highlights from the webinar below:
If you wish to watch the full webinar, click here.
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