07.03.25

President Trump's Megabill Passed — Here's What Advisors Should Know

by: Tobias Salinger

The One Big Beautiful Bill Act signed into law on July 4 extends and expands many provisions of the Tax Cuts and Jobs Act passed under the previous Trump administration. The bill will have a large impact on rules for federal income taxes and estate planning, as well as other factors that will influence investments. "It just gives advisors another thing to be really proactive with their clients about," said Mike Byrnes, founder of advisor growth firm Byrnes Consulting. "Whether the client leans left or leans right, I think it's a great opportunity to strengthen their relationship and just be in front of them."

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