Episode 37: OB3 — Tax Changes for Individuals & Employers
The One Big Beautiful Bill reshapes key parts of U.S. tax rules. In this episode, we run a fast lap through the biggest provisions and translate them into moves you can make now. We focus on the facts, who’s affected, and the action items you should tackle.
What we cover
No Tax on Tips (deduction) — voluntary tips only; income limits apply
No Tax on Overtime — the premium portion of time-and-a-half
SALT cap increase — when itemizing actually makes sense
Child Tax Credit (CTC) — new base amount and indexing
Senior Deduction — additional standard deduction with phase-outs
Car-loan interest (U.S.-assembled vehicles) — documentation to keep
Inflation adjustments to brackets — targeted boundaries and bracket creep
R&D expensing — domestic costs now favored; small-biz lookback
FICA Tip Credit (employers) — expanded beyond restaurants
Paid Family & Medical Leave credit — policy requirements to qualify
Employer Childcare credit (45F) — build, contract, or pool options
Gambling/wagering rule — why “break even” can still be taxable
Why it matters
Tighten payroll documentation (tips reporting, OT premium split).
Re-run itemize vs. standard with the new SALT thresholds.
Verify VIN/final assembly for the car-interest deduction.
Separate R&D logs from regular operations; track testing evidence.
Review leave and childcare policies so credits are actually claimable.
Note which provisions are temporary windows vs. long-term changes.
👉 Watch the episode, then jump to our OB3 deep-dives for the sections that hit your situation. New Full Throttle Finance™ episodes drop Fridays.
