Today’s Hack
The Big Beautiful Bill has officially passed, and Phil is here to bring you everything you need to know from a tax and retirement planning perspective. He dives into what really matters, starting with why the headlines and quick Google searches can be dangerously misleading. He walks through what the bill actually says, what’s being misreported, and how these new tax laws—however long they last—can be a major opportunity when used strategically in retirement planning.
Phil also digs into the “Trump Accounts,” which might just be the most interesting tool for setting your grandkids up for future success, plus changes to Roth conversion timing, estate taxes, HSA rules, and even why your next car loan might be worth a second look. If you’re basing your retirement strategy on headlines, you’re probably missing the good stuff. Tune in and get the real story.
Here’s some of what we discuss in this episode:
📉 TCJA tax rates are here to stay (at least for now)
💰 SALT deduction cap increased, but with income-based limits
👵 Seniors 65+ can claim an extra $4,000 deduction through 2028
🏥 Medicare recipients may now qualify to contribute to HSAs again
🧠 AI and headlines aren’t giving you the full story
0:00 – Intro
0: 47 – Misleading News & AI Headlines
2:42 – TCJA Extension
4:43 – SALT Deduction Cap
7:45 – Expanded Standard Deduction for Seniors
11:20 – Temporary Above-the-Line Deductions
12:09 – The New “Trump Account”
14:58 – HSA Changes for Medicare-Eligible Retirees
16:15 – Estate Tax Limits
18:30 – Final Thoughts
If you have any questions about what we discussed in this episode, reach out and we’ll be happy to set up a time to talk.
Get your copy of The Tax-Smart Retiree: https://www.thetaxsmartretireebook.com/welcome