Debunking Myths Surrounding the Big Beautiful Bill

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Have you heard the rumor that Social Security is now tax-free or that you’re getting a $40,000 deduction just for existing? Let’s clear up the myths and focus on what the new tax law actually did and what it didn’t. In this episode, Scott breaks down six of the biggest misconceptions swirling around the recently passed “Big Beautiful Bill.” Aimed especially at tax-aware retirees and pre-retirees, this conversation tackles what’s true, what’s exaggerated, and what it really means for your retirement strategy.

Here’s what we cover in this episode:

🧠 Your biggest financial risk may be what you don’t know

📊 Tax bracket changes aren't permanent, and flexibility matters

🚗 Car loan deduction? Not as generous as it sounds

🙏 Charitable giving caps

🪙 The SALT deduction cap increase helps few and phases out for most

 

Watch What The “One Big Beautiful Bill” Means for Your Retirement Plan:

https://www.youtube.com/watch?v=hHz-EThv0zE

 

Read the One Big Beautiful Bill Act Summary: https://www.congress.gov/bill/119th-congress/house-bill/1

 

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