This summer, Congress passed the Opportunity and Balanced Budget Bill, nicknamed the “Big, Beautiful Bill Act” or OBBB. It’s one of the most sweeping pieces of tax and budget legislation in recent years. While much of the media coverage has focused on its political implications, we’re focused on what really matters to you: how this affects your taxes, investments, benefits, and long-term planning.

We have been carefully evaluating the OBBB to help clients understand its full scope. Here’s a breakdown of the most important highlights and what you might want to consider going forward.

Tax Relief for Individuals and Families

For most taxpayers, the permanence of the 2017 tax cuts provides clarity and reduced rates for many.  The standard deduction is also increasing, which means more income is shielded from taxation. In addition, several new deductions have been introduced but many are temporary and set to expire in 2028.

Here’s what’s changing:

• Tipped and Overtime Income Deductions: Workers earning under $150,000 (single) or $300,000 (joint) can deduct up to $25,000 in tipped income and up to $25,000 in overtime income.
• Social Security Deduction: Those ages 65 and older may now deduct up to $6,000, phasing out at $75,000 (single) and $150,000 (joint).
• Auto Loan Interest Deduction: Interest on U.S.-assembled vehicle loans is deductible up to $10,000 annually (through 2028).
• Child Tax Credit: Permanently increased to $2,200 per child and indexed for inflation going forward.

For families in high-tax states, the temporary increase of the SALT (State and Local Tax) deduction cap from $10,000 to $40,000 is a welcome reprieve, though it’s also set to expire in 2029. However, this also means taxpayers in low-tax states are subsidizing high-tax states.

Major Benefits for Business Owners

Business owners will find several significant advantages under the new law. In many ways, this bill doubles down on a pro-entrepreneurial philosophy.

Key provisions include:

• QBI Deduction: The 20% deduction for Qualified Business Income is now permanent and has expanded to 23%.
• Bonus Depreciation: The bill reinstates and makes permanent 100% bonus depreciation for first-year equipment purchases.
• Section 179 Deduction: The cap increases to $2.5 million, allowing more immediate expense.
• R&D Tax Incentives: Domestic research and development costs are now deductible up front or may be amortized at the business owner’s discretion.
• Estate Planning: The small business estate tax exemption has been increased, which could make long-term transition planning more tax efficient.

If you’re considering investing in equipment, transitioning your business to the next generation, or revisiting your structure, now is the time to revisit your plan.

Shifts in Healthcare and Safety Net Programs

The bill also reshapes several public benefit programs. Medicaid and SNAP (food stamps) are both seeing significant cuts and expanded work requirements. This is expected to reduce eligibility and coverage for some Americans, especially groups like seniors, veterans, and rural residents.

Healthcare providers, particularly rural hospitals that rely heavily on Medicaid, may be affected. And for Medicare beneficiaries, certain drug pricing protections have been rolled back, which could impact out-of-pocket costs in the coming years.

If you know someone who relies on any of these programs, it’s worth staying informed and reviewing your healthcare and long-term care planning strategy with us.

Energy and Economic Outlook

From a policy standpoint, the OBBB makes clear shifts away from clean energy incentives and toward traditional energy development. Tax credits for solar, wind, and EVs are being phased out, while oil and gas development on federal lands is being prioritized.

What Should You Do Now?

At BCA Private Wealth, we’re helping clients respond strategically to the OBBB by evaluating:

• Personal Tax Planning: How new deductions and rates affect your income, gifting, and Roth conversion decisions
• Business Strategy: Whether to accelerate investments or restructure your entity for better long-term tax efficiency
• Estate Planning: Whether your documents reflect new exemptions and wealth transfer opportunities
• Healthcare Readiness: Understanding potential benefit changes and adjusting accordingly
• Long-Term Investment Strategy: Considering implications on your portfolio’s structure

Let’s Talk About Your Strategy

OBBB is wide-ranging, and it means different things for different people. Whether you’re a business owner planning growth, a retiree reviewing healthcare coverage, or a family thinking about taxes in 2025, we’re here to help you move forward with clarity and confidence.

If you’d like to schedule a review or need help understanding how these changes apply to your situation, let’s connect. Your financial strategy should evolve as the landscape changes, and we’re here to guide you in every step of the way.

Golf Tip of the Week

Let the Wind Work for You: How to Play Confidently in Windy Conditions

Golfers often dread windy days, but with the right approach, you can turn the breeze into an advantage. The key lies in controlling your ball flight and staying mentally focused.

1. Club Down and Choke Up
   Use one or two more clubs than usual and grip down about an inch. This keeps your swing shorter and more controlled, reducing spin and preventing the ball from ballooning.

2. Ball Position and Setup
   Move the ball slightly back in your stance to promote a lower launch angle. A wider stance offers better balance in gusty conditions, helping you stay grounded during the swing.

3. Smooth Tempo Is Essential
   Resist the urge to swing harder. A smoother, more deliberate tempo keeps spin down and helps you maintain accuracy.

4. Play the Wind, Don’t Fight It
   Accept that the wind will affect your shot. Focus on shaping your ball into or with the wind instead of forcing it against it. For example, hitting a fade into a left-to-right wind can actually help your ball hold its line.

These strategies will help you develop confidence when the wind picks up—and once you learn to manage the elements, you’ll have a major edge over the competition.

Golf Tip adapted from Golf Digest. Read the full article here: Our best wind tips to help you hit piercing shots like the pros

Recipe Tip of the Week

Junk Food Day Chocolate-Covered Pretzel Rods

Perfect for National Junk Food Day – July 21

Celebrate the tastiest holiday of the year, National Junk Food Day, with these salty-sweet chocolate-covered pretzels—fun to make, even more fun to eat!

Ingredients:

• 1 bag of pretzel rods
• 12 oz semi-sweet chocolate chips (or white chocolate if preferred)
• 1 tbsp coconut oil (optional, for smooth melting)
• Toppings: crushed Oreos, rainbow sprinkles, chopped peanuts, mini M&Ms, toffee bits

Directions:

1. Line a baking sheet with parchment paper.
2. In a microwave-safe bowl, melt chocolate chips in 30-second intervals, stirring in between. Add coconut oil if using.
3. Dip each pretzel rod halfway into the chocolate and gently twirl to coat.
4. Immediately roll in toppings or sprinkle them over the chocolate.
5. Lay on the parchment-lined sheet and refrigerate for 20 minutes, or until set.

These are great for party platters, edible gifts, or just your own snack stash!

Recipe Tip adapted from Food Network. Read the full article here: Chocolate Pretzels

Travel Tip of the Week

Embrace “Noctourism” This Summer

Millions are seeking fresh perspectives on travel, and one rising trend is noctourism—sightseeing after dark. From stargazing in national parks to off-hours museum visits, exploring familiar destinations under the stars is both thrilling and crowd-free.

What Noctourism Looks Like in Action

• Nighttime national parks, with astronomy-based programs that let visitors stargaze while avoiding daytime crowds and heat.
• After-dark tours of iconic sites, like the Colosseum or the Acropolis Museum in Rome and Athens, offering enchantment and a unique vantage point.
• Wellness experiences under the moon, including sound baths and meditative hikes led by moonlight—perfect for serene and rejuvenating travel.

Why You Should Try It

1. Beat the crowds: Major attractions empty out after dark—no lines, no rush.
2. Avoid the midday heat: Nighttime temps are more comfortable, especially in summer.
3. Unforgettable experiences: Moonlit views and peaceful atmospheres create stronger memories than daytime selfies.
4. Health-conscious travel: Activities like relaxed night hikes or starry yoga align with wellness and mindfulness in travel.

How to Get Started

• Seek astronomy nights or night tours at your next destination.
• Ask local guides about after-hours experiences at museums, historical sites, gardens, or even street-food markets.
• Pack with purpose: layers, a lightweight headlamp or flashlight, and sturdy walking shoes.

Exploring in the dark adds a whole new dimension to travel—less crowded, more magical, and deeply memorable.

Travel Tip adapted from Travel & Leisure. Read the full article here: Why ‘Noctourism’ Is the Hottest Travel Trend of 2025

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BCA Private Wealth is a registered investment adviser. The advisory services of BCA Private Wealth are not made available in any jurisdiction in which BCA Private Wealth is not registered or is otherwise exempt from registration.

Please review BCA Private Wealth Disclosure Brochure for a complete explanation of fees. Investing involves risks. Investments are not guaranteed and may lose value.

This material is prepared by BCA Private Wealth for informational purposes only. It is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation or any particular security, strategy, or investment product.

No representation is being made that any account will or is likely to achieve future profits or losses similar to those shown. You should not assume that investment decisions we make in the future will be profitable or equal the investment performance of the past. Past performance does not indicate future results.