On July 4, HR 1, the 2025 tax legislation was signed into law. The measure features the extension of several expiring tax cuts passed in 2017 and new tax reductions including new federal tax exemptions for qualifying tip and overtime income. There’s a lot to unpack here for clubs. In this episode, we’re joined by Brad Steele, a longtime collaborator, to talk more about what this means for the club industry. We’ll explore what we know about these two impactful changes and learn what details remain to be released with further regulatory guidance.