Big Beautiful Bill Myths Debunked
Big tax law changes always bring big rumors. But before you assume Social Security is now tax-free or that you’re getting a $40K deduction just for breathing, let’s set the record straight on what this new bill didn’t actually do. This episode, David breaks down 6 of the most common myths floating around about the new “One Big Beautiful Bill Act.” Here are the myths we discuss in today’s show: Myth #1: “Social Security is no longer taxed.” Myth #2: “This new law means tax cuts for everybody.” Myth #3: “The tax brackets are permanent now, so I don’t need to worry.” Myth #4: “A $15M estate tax exemption means estate planning doesn’t matter anymore.” Myth #5: “Car loan interest is now fully deductible.” Myth #6: “I can skip itemizing and still get a huge deduction for giving to charity.” For additional resources or to contact David, visit us online at http://creativeoneadvisorsgroup.com or call 913-317-1414.