"Big Beautiful Bill" Promises Tax Relief: Inside the Massive Tax Overhaul That Could Reshape Your 2026 Return "Keep What's Yours" is hosted by Josh Gilbert and Jeff Zufall, senior tax strategist and wealth advisor. Today they discuss the "Big Beautiful Bill," a 1,000-page tax legislation that narrowly passed the House and heads to the Senate, featuring key provisions like increasing child tax credits from $2,000 to $2,500, eliminating taxes on up to $25,000 in declared tips for lower earners, providing $10,000 deductions for American car loan interest, offering $1,000 "Trump Account" credits for children's savings, and raising the state/local tax (SALT) deduction cap from $10,000 to $40,000. The show also covered Moody's downgrade of the US credit rating from AAA to AA+ due to fiscal concerns (with 23% of GDP going to debt interest payments), tornado relief for Missouri and Illinois disaster areas allowing tax deductions for uninsured losses, and ongoing tariff discussions. While the legislation wouldn't take effect until January 2026, its Senate passage remains uncertain due to opposition from senators like Josh Hawley who want higher child tax credits, and the bill could face significant modifications or be killed entirely. The IRS reports that small businesses overpay their taxes every year. Stop overpaying - Call Capital Advisory Group at 636-394-5524 today!