EP51: Promises and Pitfalls of the New Tax Law – 7.31.25

2025-07-31

PROMISES AND PITFALLS OF THE NEW TAX LAW FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS with Sandy Hornor | CEPS Managing Director, Wealth Management & Executive Manager, BWFA Episode Details: In this episode of Healthy, Wealthy & Wise, Sandy Hornor explains how the new “One Big Beautiful Bill Act” may affect your taxes. While the bill promises tax breaks, many of them come with fine print—like incom...

PROMISES AND PITFALLS OF THE NEW TAX LAW
FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS

with Sandy Hornor | CEPS
Managing Director, Wealth Management & Executive Manager, BWFA

Episode Details:

In this episode of Healthy, Wealthy & Wise, Sandy Hornor explains how the new “One Big Beautiful Bill Act” may affect your taxes. While the bill promises tax breaks, many of them come with fine print—like income limits and phase-outs. That means planning ahead is more important than ever.

Sandy covers the expanded SALT deduction, a new $6,000 senior deduction for those age 65 and older, and the now-permanent Qualified Business Income (QBI) deduction. He also reviews smaller but meaningful benefits, such as new deductions for tips, overtime, and car loan interest. However, each one comes with eligibility thresholds that may surprise you.

This episode gives you a clear, high-level overview of what changed, what stayed the same, and why financial and tax planning must now work hand-in-hand. If you’re unsure how the 2025 tax law will impact your income, investments, or filing status, this discussion will help you cut through the confusion

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