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How Does the Big Beautiful Bill Impact Your Taxes?

14 snips
Jul 9, 2025
Guest
Bill Sweet
In this discussion, tax specialist Bill Sweet, CFO at RWM, shares insights on how the recent Big Beautiful Bill impacts personal taxes, emphasizing that many tax cuts have been made permanent. He and the hosts analyze various provisions affecting families and seniors. The conversation also explores the potential for new investment accounts for newborns, advocating for financial literacy and future savings. Additionally, they discuss the trade-offs between traditional savings like CDs and alternative investments, all while addressing listener queries on effective investment strategies.
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ANECDOTE

CPA's Conservative Investment Dilemma

  • A 36-year-old CPA has half his money in CDs and is hesitant to invest more in stocks despite the better returns.
  • He worries about risk but also wants to eventually buy a suburban home, showing a classic conservative investor dilemma.
INSIGHT

Trade-Offs of CDs vs Bonds

  • CDs provide no interest rate risk by locking in rates but lack liquidity and flexibility.
  • Reinvestment risk arises if rates drop, making long-term CD holdings less advantageous.
INSIGHT

Tax Bill Largely an Extension

  • The new tax bill mostly makes previous 2017 Tax Cuts permanent with minor edge changes.
  • Most taxpayers won't see much difference, but deficits will continue growing due to these cuts.
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