187: What the “One Big Beautiful Bill” Means for Your Taxes, Wealth Strategy, and the National Debt
Description
The “One Big Beautiful Bill” was just signed into law - and it's going to have a real impact on your business and your taxes. In this episode, I’m walking you through what’s actually in the bill, clearing up common misconceptions I’ve seen online, and sharing the changes you need to know as a business owner.
We’ll talk about updated rules around bonus depreciation, the standard deduction, tax credits on tips, and child-related tax incentives - plus what’s going away (hint: EV tax credits). I’m also pulling back the curtain on what this bill signals about the national debt and why I believe long-term tax planning is more important now than ever.
🌱 Ready to grow beyond $10K months with strategy and structure?
Join The High Profit Society™️— our implementation-focused community for service-based business owners earning $5K–$10K/month and building toward sustainable, high-profit growth. Learn the model, make the moves, and get the support you need to scale without burnout.
💰 Already earning $20K-$100K+ months—but still not seeing it in your profit?
Start with a Profit Clarity Assessment. We’ll review your financials and goals, identify what’s keeping you stuck, and show you how to increase take-home income and scale with confidence.
Sources:
In this episode, you’ll learn:
0:00 Why you should be careful how and where you are learning about this “One Big Beautiful Bill”
2:15 My thoughts on the rising federal deficit
6:30 The biggest small business tax updates you should know
11:25 Tax updates for individuals and how they could affect your business
18:40 Changes to savings accounts for kids (and what’s still unclear)
21:16 Thinking about taxes as a long game and building wealth accordingly
I’m Sarah Young - an entrepreneur, investor, and millionaire mentor for female founders! I have over a decade of experience in helping entrepreneurs scale their businesses and build wealth at the 6- and 7-figure levels, in addition to building my own successful agency, and I started the Profit + Prosper podcast to help you do the same.
Profit + Prosper will help you make more money, save more money, and set yourself up to retire early while upgrading your life - all in a way that’s fun and empowering. In each episode, I’ll share tactical, strategic, and mindset tips to grow your business, increase your profit, and truly prosper in your business and in life. I hope you’ll subscribe so we can Profit + Prosper together!
Connect with Sarah:
United States
