Discussing the OBBBA with Bill Harden
Fri Sep 12 2025
Tax rules just changed—what’s real, what’s hype, and how should you plan?
On this episode, David is joined by Bill Harden, Associate Professor of Accounting & Finance at UNC–Greensboro, to unpack the “One Big Beautiful Bill” Act (signed July 4, 2025) and what it means for practitioners and clients this planning season.
Transcript
Episode Highlights:
Mid-year passage & why July beats January for tax changes (3:09)New “production property” 100% bonus and the §1245 vs §1250 recapture traps (4:42)Energy incentives: EV credits ending Sept 30, home energy credits curtailed (13:14)Acquisition date vs placed-in-service—a big shift for credits/depreciation (16:41)“Trump accounts” for minors: how they differ from 529s, $1k pilot, earliest funding 7/4/26 (20:09)Tips & overtime are deductions (not exclusions) and must be reported to qualify (29:12)Auto-loan interest deduction returns—benefits and AGI phaseouts (27:06)SALT cap to $40k; mortgage interest cap still $750k—who itemizes now (35:24, 38:15)2026 charitable floors, withholding/W-2 timing, state conformity watch-outs & big-picture advice (40:17, 44:28, 50:30)Links:
For Continuing Professional Education Courses:
https://www.petersprofessionaleducation.com/
More David Peters Content:
www.youtube.com/@DavidPetersFinancial
Guest — Bill Hardin (UNCG):
jwharden@uncg.edu
JamesWilliamHardenCPACHFC@gmail.com
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Tax rules just changed—what’s real, what’s hype, and how should you plan? On this episode, David is joined by Bill Harden, Associate Professor of Accounting & Finance at UNC–Greensboro, to unpack the “One Big Beautiful Bill” Act (signed July 4, 2025) and what it means for practitioners and clients this planning season. Transcript Episode Highlights: Mid-year passage & why July beats January for tax changes (3:09)New “production property” 100% bonus and the §1245 vs §1250 recapture traps (4:42)Energy incentives: EV credits ending Sept 30, home energy credits curtailed (13:14)Acquisition date vs placed-in-service—a big shift for credits/depreciation (16:41)“Trump accounts” for minors: how they differ from 529s, $1k pilot, earliest funding 7/4/26 (20:09)Tips & overtime are deductions (not exclusions) and must be reported to qualify (29:12)Auto-loan interest deduction returns—benefits and AGI phaseouts (27:06)SALT cap to $40k; mortgage interest cap still $750k—who itemizes now (35:24, 38:15)2026 charitable floors, withholding/W-2 timing, state conformity watch-outs & big-picture advice (40:17, 44:28, 50:30)Links: For Continuing Professional Education Courses: https://www.petersprofessionaleducation.com/ More David Peters Content: www.youtube.com/@DavidPetersFinancial Guest — Bill Hardin (UNCG): jwharden@uncg.edu JamesWilliamHardenCPACHFC@gmail.com