The headlines are everywhere — major tax changes are on the table, and for business owners, high-net-worth families, and professionals trying to plan ahead, the uncertainty can sometimes feel overwhelming. 

If you’ve been hearing about the One Big Beautiful Bill (OBBB) making its way through Congress, you’re not alone. Clients have been asking: 

 ✔️ Will this impact how I structure my income? 

 ✔️ Should I be making financial changes now? 

 ✔️ How will this affect taxes for my business or investments? 

Today, I’m breaking down what we know so far — and the potential steps you can take to help stay protected. 

What’s Happening with the Tax Bill? 

The OBBB is a massive tax and budget proposal aiming to extend parts of the 2017 Tax Cuts and Jobs Act — with some significant adjustments that could reshape tax strategy for the future. 

But here’s the challenge: The House and Senate versions of the bill are miles apart, creating uncertainty for business owners and high-income earners trying to plan proactively. 

Key Areas of Uncertainty 

1. The SALT Deduction Cap 

• House Proposal: Raise the cap to $40,000 

• Senate Proposal: Keep the cap at $10,000 

This matters for homeowners and business owners in states with higher property or income taxes. 

2. Qualified Business Income (QBI) Deduction 

• House wants to increase the deduction to 23% and make it permanent 

• Senate version keeps the 20% deduction but extends it long-term 

 This is a benefit for business owners operating as pass-through entities. 

3. Bonus Depreciation & Business Incentives 

The Senate bill proposes permanent bonus depreciation for new property purchases through 2031 — great news for equipment-heavy businesses. 

Who Benefits Most? 

• High-income business owners 

• Real estate investors 

• Entrepreneurs using strategic tax structures 

Who could lose out? 

• Families relying on Medicaid or SNAP 

• Younger generations facing long-term economic impacts from increased deficits 

What Should You Do Now? 

 ✔️ Stay Flexible — Avoid major structural financial changes until the final bill is passed 

✔️Work with a professional— to model your tax picture so you have a better idea of what to expect 

✔️ Review Entity Structures — Understand how pass-through or corporate income will be impacted 

✔️ Take Advantage of Current Laws — In some cases, locking in deductions or strategies under existing tax rules may be wise 

Our Takeaway 

In times of uncertainty, reactive financial decisions create regret. Instead, this is the moment to lean into proactive planning. 

At Fit Wealth Advisors, we focus on helping business owners, professionals, and Central Nebraska families simplify the complexity of building and protecting wealth — even when the rules are changing. 

Want to Get Ahead of Tax Changes? 

Let’s talk. Whether you're here in Nebraska or connecting with us virtually, we’ll help you plan with clarity — and stay financially fit for the long run. 

➡️ Book a Call with Fit Wealth Advisors 

The Fit Wealth Show is brought to you by Plan Group Financial, Inc. (PGF) d/b/a Fit Wealth Advisors. PGF d/b/a Fit Wealth Advisors is an investment adviser registered under the Investment Advisers Act of 1940. Registration as an investment adviser does not imply any level of skill or training. This presentation has been provided for informational purposes only and is not intended as legal or investment advice or a recommendation of any particular security or strategy. The investment strategy and themes discussed herein may be unsuitable for investors depending on their specific investment objectives and financial situation. Past performance is not indicative of future results.