Your tax refund may get bigger this year thanks to the One Big Beautiful Bill Act (OBBBA). President Donald Trump said in an address from the White House in December that this coming spring “is projected to be the largest tax refund season of all time” (1). Treasury Secretary Scott Bessent is predicting $100-$150 billion in refunds. Must Read As a result of the OBBBA, the average tax refund is expected to increase as much as $1,000, according to the Tax Foundation (2). The amount will differ depending ...

The “One Big Beautiful Bill Act” (OBBBA) may live up to its name for many middle-class taxpayers. The tax package introduces fresh deductions and credits designed to help working households, families and small-business owners keep more of their incomes. According to Mark Luscombe, JD, CPA and principal analyst at Wolters Kluwer in the division of tax and accounting, here’s what middle-class taxpayers need to know. 1. Key Middle-Class Tax Breaks The OBBBA includes several provisions aimed at helping mid ...

Tax season is fast approaching and several tax policy changes impacting older Americans will be in effect when seniors go to file their returns. The enactment of Republicans' One Big Beautiful Bill Act (OBBBA) last year revised a number of tax policies, including some provisions that the IRS is implementing for the 2025 tax year, for which Americans will begin filing their tax returns beginning on Jan. 26. Among the new tax provisions that will impact seniors is a bonus deduction for seniors age 65 and o ...

Core Insights - The traditional retirement savings benchmark of $1 million is becoming outdated, with experts now recommending a target of $1.5 million to ensure a comfortable retirement [3][4] - The shift in retirement age to 67 and economic changes necessitate a reevaluation of retirement savings strategies, as the old 4% rule may no longer suffice [2][4] Retirement Savings Guidelines - Financial advisors previously suggested saving multiples of salary: three times by age 40, six times by 50, and over eight times by 65, translating to approximately $340,000 to $850,000 for those earning between $40,000 and $100,000 annually by ages 61-64 [2] - The new recommendation of $1.5 million allows for an annual retirement income of $60,000, providing a buffer for rising costs and unexpected expenses [3] Factors Influencing Retirement Costs - Location significantly impacts retirement budgets, as living costs vary across the U.S., necessitating personalized savings goals [6] - Marital status affects Social Security benefits, with married couples able to maximize benefits, but survivors face income loss upon a spouse's death [6] - Retirees must account for healthcare, housing, and lifestyle expenses, ensuring their savings can cover these without financial strain [6] Legislative Impact - The One Big Beautiful Bill Act (OBBBA) signed in July 2025 introduces temporary tax deductions for seniors, potentially exempting about 90% of retirees from paying income tax on Social Security [6]

Getting ahead on your taxes isn’t just about filing early. Tax experts say the most effective moves happen right at the start of the year, long before paperwork piles up or forms go missing. By taking a few intentional steps in January, you can smooth out your tax burden, reduce errors and make the 2026 filing season far less stressful. Here are eight smart ways to build momentum now. Be Aware: 8 Ways Trump’s ‘One Big Beautiful Bill’ Could Offer Tax Relief Read Next: 9 Low-Effort Ways To Make Passive Inco ...

The next tax filing season in the U.S. might not be so bad, after all. In a recent appearance on NBC10 Philadelphia, Treasury Secretary Scott Bessent said American households are going to receive “very large refunds” during the next tax filing season. All thanks to the retroactive policy changes introduced under the One Big Beautiful Bill Act (OBBBA) in July. The anticipated refunds, which could total between $100 billion and $150 billion, are drawing attention not only from consumers but also from mark ...

Core Points - The Trump Administration introduced a new tax break for seniors through the "One Big Beautiful Bill Act" (OBBBA), which includes a new standard deduction for taxpayers aged 65 and over [2][3] - The new deduction is worth $6,000 annually and is available starting in 2025, allowing married taxpayers to potentially save a total of $12,000 on their income taxes [5][7] - The tax rules for Social Security benefits remain unchanged, with retirees still subject to a partial benefits tax based on provisional income thresholds [4][6] Tax Deduction Details - The OBBBA's new deduction applies to taxpayers aged 65 and over, but does not exclusively benefit those collecting Social Security, as eligibility is determined by age and income [3] - The deduction phases out for single filers with income over $75,000 and married joint filers with income over $150,000, reducing the deduction by 6% for every additional $1,000 earned above these limits [6][7] - The tax break is set to expire in 2028, encouraging retirees to maximize their benefits before the expiration [7]

Core Insights - Michael Dell and his wife Susan are donating $6.25 billion to "Trump accounts," which provide $1,000 in federal funds to U.S. children born on or after January 1, 2025, until the end of 2028 during Donald Trump's presidency [1] - The contribution will benefit approximately 25 million children, allocating about $250 per child [1] - The accounts serve as long-term savings vehicles, with parents able to contribute starting July 2026, and funds will be invested in stock market mutual or index funds [2] Eligibility and Contribution Details - "Trump accounts" are available to all U.S. children under 18 with a Social Security number, managed through the U.S. Treasury as part of Trump's One Big Beautiful Bill Act (OBBBA) [3] - The Dell Foundation's contribution is specifically for children born from 2016 to 2024 in areas with median household incomes below $150,000 per year [4] - Parents and community members can collectively contribute up to $5,000 per year to an Invest America account, with no cap on contributions from philanthropists or charitable organizations [5] Withdrawal and Usage of Funds - Funds can be accessed starting at age 18 for education, job training, starting a business, or purchasing a first home, with accounts converting to traditional IRAs at that age [6] - The specifics of account opening and management are still unclear, with further information available through investment firm Charles Schwab [7]

Key Takeaways from the Conference Call Industry Overview - The report focuses on the U.S. equity market, analyzing trends and sentiments from various companies across different sectors, particularly in relation to earnings guidance, inflation, AI adoption, and labor conditions. Core Insights - **Earnings Guidance**: Mentions of "Raise Guidance" have spiked, indicating a positive outlook among companies, while mentions of "Cautious" have decreased, suggesting increased confidence in future earnings growth [8][9] - **Earnings Growth Forecast**: A forecast of 17% EPS growth is anticipated for 2026, marking the first significant earnings growth for the average company in four years [8] - **AI and Productivity**: AI mentions reached new highs during the 3Q25 reporting season, with many companies reporting sales growth driven by AI-centric businesses. The focus remains on repeatable task automation and data analytics [8][21][94] - **Free Cash Flow (FCF)**: Companies are experiencing an initial boost to FCF due to the One Big Beautiful Bill Act (OBBBA), which is expected to support market broadening in 2026 [8][9] - **Inflation and Cost Pressures**: Mentions of "Inflation" remained steady compared to the previous quarter, indicating a stable CPI/PPI environment. Labor conditions were reported as net neutral quarter-over-quarter [8][18][65] - **Tariff Mitigation**: Companies have successfully managed tariff impacts through various strategies, including pricing power and supply chain diversification, which has set up easier comparisons for 2026 [8][9] Additional Insights - **Labor Market**: Hiring and layoffs have been mentioned in tandem, indicating a steady labor market, while mentions of higher labor costs have faded [25][70] - **Consumer Sentiment**: Consumer health has shown improvements, with mentions of "Consumer Weakness" declining, while "Consumer Value" and "Choiceful" have increased [60][61] - **Sector-Specific Trends**: The report includes a sector heat map showing varying levels of cost pressures, pricing power, and margin pressures across different industries [44] - **Federal Reserve Focus**: The Federal Reserve's policies and their implications on borrowing costs and potential recession risks remain a focal point for companies [84][86] Conclusion - The overall sentiment from the conference call indicates a cautiously optimistic outlook for the U.S. equity market, driven by strong earnings guidance, AI adoption, and effective management of inflation and tariff pressures. Companies are positioning themselves for growth, particularly in the context of free cash flow and productivity enhancements through technology.

Core Insights - The KeyBank survey indicates that 70% of middle market companies plan to leverage the provisions of the One Big Beautiful Bill Act (OBBBA) for competitive advantage [1][3] - The survey reveals high familiarity with OBBBA among executives, with 60% reporting awareness of its provisions [5] - Companies anticipate significant impacts on the U.S. economy and their own businesses, with 86% expecting moderate or greater effects within the next 12 months [5] Familiarity and Expectations - 60% of middle market companies are familiar with OBBBA provisions [5] - 86% expect the bill's provisions to have a moderate or greater level of impact on the U.S. economy in the next 12 months, with 45% anticipating significant impact [5] - 60% expect a meaningful positive impact on their business in the next two years [5] - 89% anticipate at least one significant long-term impact from OBBBA on their business [5] Anticipated Long-Term Impacts - The top three expected long-term impacts include: - Increased ability to invest in growth and expansion (59%) [5] - Improved cash flow through accelerated depreciation and capital expenditure incentives (59%) [5] - Greater certainty and stability in financial planning and forecasting (53%) [5] Strategic Priorities Post-Enactment - Within 12 months of OBBBA enactment, middle market companies plan to prioritize: - Upgrading technology or investing in process automation (68%) [5] - Increasing domestic R&D investment (65%) [5] - Expanding/reconfiguring supply chain (63%) [5] - Adjusting debt financing or leverage strategy (59%) [5] - Accelerating capital expenditures (58%) [5] - Enhancing employee benefits (57%) [5] - Investing in clean energy projects (55%) [5]