In this episode Mark is joined by tax expert Sean Mullaney, CPA live from CampFI in Colorado Springs. They dive into the recent changes brought by the new tax legislation, the One Big Beautiful Bill Act (OBBBA), signed into law on July 4th.
Key topics include permanent tax rates, increased standard deductions, higher child tax credit, new personal exemptions for seniors, potential future tax adjustments, and expanded eligibility for HSA contributions under ACA plans.
They also discuss strategic tax planning for early retirees and Sean’s upcoming book on tax planning co-authored with Cody Garrett, CFP®.
Episode Links:
Mark’s Money Mind YouTube Channel
U.S. Code § 36B - Refundable credit for coverage under a qualified health plan
Tax Planning To and Through Early Retirement by Cody Garrett, CFP® and Sean Mullaney, CPA
Timestamps:
- 00:40 Live from CampFI: Special Guest Sean Mullaney
- 01:23 Overview of the New Tax Bill
- 01:55 Changes in Tax Rates and Standard Deductions
- 04:39 Child Tax Credit and Personal Exemptions
- 05:14 New Deductions for Retirees and Workers
- 11:56 State and Local Tax Deductions
- 14:23 Charitable Contributions and Estate Tax
- 21:13 Affordable Care Act Changes
- 29:46 Upcoming Book: Tax Planning To and Through Early Retirement
_______________
This show is for education and entertainment purposes only and should not be considered investment, tax, or legal advice. Please consult the appropriate advisor or advisors before implementing anything you hear on this show or any other show for that matter.
Mark, his guests, and the Mark’s Money Mind show do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
Cardiac Cowboys
The heart was always off-limits to surgeons. Cutting into it spelled instant death for the patient. That is, until a ragtag group of doctors scattered across the Midwest and Texas decided to throw out the rule book. Working in makeshift laboratories and home garages, using medical devices made from scavenged machine parts and beer tubes, these men and women invented the field of open heart surgery. Odds are, someone you know is alive because of them. So why has history left them behind? Presented by Chris Pine, CARDIAC COWBOYS tells the gripping true story behind the birth of heart surgery, and the young, Greatest Generation doctors who made it happen. For years, they competed and feuded, racing to be the first, the best, and the most prolific. Some appeared on the cover of Time Magazine, operated on kings and advised presidents. Others ended up disgraced, penniless, and convicted of felonies. Together, they ignited a revolution in medicine, and changed the world.