The Big Beautiful Bill: Everything You Need to Know - A Comprehensive Overview
96025 2

Author: Mark Luscombe

CPE Credit:  2 hours for CPAs
 

Mark Luscombe, Principal Analyst for Wolters Kluwer, leads this course that’s designed to help you answer client questions about the One Big Beautiful Bill Act. Among other topics, you’ll learn to identify the extensions of the Tax Cuts and Jobs Act that were set to expire, new provisions promised during the 2024 Presidential campaign, and the elimination or modification of many recent provisions added in the Build Back Better Act and the Inflation Reduction Act.

Publication Date: July 2025

Designed For
This course is designed for CPAs, tax professionals, enrolled agents, financial advisors, and other accounting and finance professionals who need a comprehensive understanding of the 2025 tax legislation commonly referred to as “The Big Beautiful Bill.”

Topics Covered

  • Provisions of the final One Big Beautiful Bill Act
  • Individual and business tax changes covered under the new legislation
  • Navigating the changes under new tax rules, including the impact on the standard deduction, SALT deduction, Child Tax Credit, and on Estate taxes
  • The creation of tax-favored accounts for newborn children, the termination of several green energy tax provisions, and the impact of the One Big Beautiful Bill Act on the IRS Direct File program

 

Learning Objectives

  • Recognize the individual and business tax changes contained in the One Big Beautiful Bill Act
  • Describe the extensions of the Tax Cuts and Job Acts's provisions for both individual and business clients
  • Identify how to answer basic client questions regarding tax legislation
  • Explain the new individual tax provisions regarding taxes on tips, taxes on overtime pay and taxes on Social Security income and the updates to business tax provisions including bonus depreciation, research and experimental expenditures, and the qualified business income deduction
  • Explain the permanent extensions to several international and foreign-related provisions under the Tax Cuts and Jobs Act, including FDII and GILTI rates

Level
Overview

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

Additional Course Details

  • Filed of Study: Taxation
  • Publisher: Wolters Kluwer
  • Course Level: Basic
  • Pre-Requisites: None
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