Surgent’s Weekly Expert Hour: Special 2-Hour Edition – House Version of Tax Reform

COURSE DESCRIPTION

The House of Representatives passed a version of President Trump’s “One Big Beautiful Bill” on May 22, 2025. It contains significant tax law changes and a permanent enactment of the Tax Cuts and Jobs Act (TCJA). These changes must still go through the Senate, and eventually both bodies have to agree on identical versions of the same tax reform provisions. Our program will examine the new changes enacted by the House, and our panel will discuss the TCJA provisions that may become law.

Note: These topics have not yet been enacted into law, but we believe many of them will be once they have gone through the Senate.

Learning Objectives

• Practitioners who attend this program will learn about all of these new proposed changes, most of which we believe will be enacted shortly. Many of them will be effective in 2025.

Major Topics

• Introduction to the House passage and future enactment of the One Big Beautiful Bill
• New rules relating to the taxation of overtime pay and tips
• Increased deduction for seniors
• Changes in the standard deduction and Child Tax Credit
• Increase in the SALT cap to $40,000, with income limitations
• Increase in the estate tax exemption
• Increase in the QBI deduction
• Establishing, funding, and making distributions to newly established accounts for children
• Medicaid changes 
• Deducting interest on car loans
• Elimination of green energy credits
• Review of important TCJA provisions

Designed For

• Accounting and finance professionals advising individual, business, and not-for-profit clients

Prerequisite

• A general familiarity with the current financial climate

Presenters: Mike Tucker, Karen Davis, Ed Renn

Level: Update

**UPDATE: With the pending legislation, this weekly webinar will have a running presentation of the bill’s status and inclusions through passage and into the later corrections and clarifications.**