A few weeks ago, we shared our perspective on the One Big Beautiful Bill and why it marked a defining moment for retirement savers, tax-conscious investors, and families thinking about legacy.

And since then, we’ve had the chance to review the full scope of the legislation, and the practical steps some families are already taking.

What we’re seeing is this: The ones who act early, with clear intent, are the ones who tend to benefit most.

So today, I want to walk you through the strategic moves that are rising to the top, moves you might want to consider before the window closes:

Revisiting the Estate Plan

One of the more overlooked outcomes of the new law is what it does to the estate and gift tax exemption.

Starting in 2026, the lifetime exemption jumps to $15 million per person, and for now, it’s permanent.

Now, if you’ve already put an estate plan in place, you might be tempted to move on. But here’s the thing: the landscape has shifted underneath that plan.

Because when exemption amounts increase, so do the opportunities to move assets off your balance sheet, whether to heirs, to trusts, or to charitable causes, without triggering transfer taxes. And depending on how your documents were drafted, you may not be taking full advantage.

For some, this may be the time to revisit old credit shelter or bypass trusts that no longer serve their purpose. For others, it might mean accelerating gifts, funding multi-generational trusts, or finally setting up that family limited partnership.

But the bottom line is this: the cost of doing nothing just went up.

Rethinking Generosity

For families who give consistently, whether through tithing, donor-advised funds, or community causes, the new law brings both opportunities and limitations.

Starting in 2026, non-itemizers will be able to deduct up to $1,000 in charitable contributions, or $2,000 if filing jointly. That’s a nice gesture.

But here’s the catch: for those who itemize, charitable gifts will now only count to the extent they exceed 0.5% of your adjusted gross income.

Said differently? Your giving has to cross a higher bar before it starts working for you on your tax return.

That doesn’t mean you should give less. But it might mean you give differently.

It might mean consolidating gifts into one year instead of spreading them out. It might mean funding a donor-advised fund now while deductions are fully available, then distributing those gifts over time. And for some, it may mean rebalancing how you give, cash, stock, appreciated assets, so generosity stays tax-smart.

Because while your heart’s in the right place, your strategy should be too.

More Options for Education Planning

If you’re already funding a 529 plan for a child or grandchild, you’ve probably been doing it for one reason: college.

But starting next year, the rules expand, and that changes the game.

Beginning in 2026, you can use up to $20,000 per year, per beneficiary, for K–12 expenses. And not just tuition, also tutoring, online curriculum, test prep, even educational therapy for kids with learning challenges.

That means families who value private school, specialized support, or just more choice in education now have a stronger planning tool.

It also means that if your 529 plan was funded with a long-term view, you may want to revisit how it fits into your shorter-term needs.

And for those thinking beyond college, toward vocational training, certifications, or post-high school credentials, the bill opens the door to use 529s for those costs too.

Bottom line: the tax advantages are broader, the use cases more flexible, and for families who plan ahead, education just got a little more customizable.

Business Owners, Take Note

If you run a business, own real estate, or generate income through a pass-through entity, the new law offers some of the most substantial and durable benefits we’ve seen in years.

Several key provisions have been made permanent, including the 20% Qualified Business Income (QBI) deduction. That’s the deduction that lowers the taxable income for sole proprietors, S corps, LLCs, and partnerships. If that’s you, this isn’t just a line item, it’s foundational.

At the same time, bonus depreciation is back at 100%, and Section 179 expensing has been expanded to $2.5 million. So if you’ve been thinking about making investments in equipment, vehicles, or other capital assets, this may be the time to act, not just to grow your business, but to reduce your taxable income in the process.

For real estate investors, this also means a window to revisit cost segregation studies, accelerate depreciation, and reconsider how your income is being characterized across properties.

And if your long-term strategy includes developing or investing in underserved areas, the Opportunity Zone rules just got new life, giving you the ability to defer gains, enhance basis, and potentially eliminate future capital gains altogether.

In short: If your business is your biggest asset, this is your reminder to make sure it’s also your most tax-efficient one.

One Last Shot at Green Energy Incentives

For years, the government has offered generous tax credits for homeowners who invest in energy-efficient upgrades, solar panels, heat pumps, insulation, new windows, and more.

That window is closing.

Under the new law, many of those incentives expire after 2025. And not in a vague, “we’ll see what happens” way, these provisions are scheduled to end, full stop.

So if you’ve been thinking about making upgrades to your home, vacation property, or rental units, this may be your final chance to get a federal tax credit worth up to 30% of the project cost.

That could mean thousands in tax savings if you act this year.

And while we don’t recommend rushing into a big-ticket project just to chase a deduction, we do recommend reviewing your broader property strategy. Because combining energy efficiency with tax efficiency? That’s a win worth planning for.

The SALT Cap Relief, But Don’t Get Comfortable

For those of you living in high-tax states, there’s a bit of breathing room coming, at least for a while.

Starting in 2025, the cap on state and local tax (SALT) deductions increases to $40,000 for joint filers. That’s a significant jump from the $10,000 cap we’ve been dealing with since 2018.

But before you get too comfortable, know this: it’s temporary.

This expanded cap is scheduled to last through 2029, and then it drops right back down. There are also income phaseouts that start at $500,000 of modified adjusted gross income for couples, and $250,000 for individuals. Those phaseouts increase gradually over the next few years.

In short: yes, it’s an opportunity. But it’s also a countdown.

So if you’re considering strategies like bunching deductions, charitable stacking, or shifting income across years to make the most of a higher SALT limit, now’s the time to plan. Because in a few short years, we’ll likely be having this same conversation all over again.

What Smart Families Are Doing Right Now

If there’s one pattern we’re seeing from families who are positioned well, it’s this: they aren’t waiting for things to “settle down” in Washington.

They’re moving early. Strategically. And with the long game in mind.

They’re updating estate plans before attorneys get overwhelmed. They’re modeling multi-year Roth conversions while tax rates are still low. They’re adjusting charitable strategies, reviewing education plans, and taking advantage of incentives before the door closes.

Not reactively. But proactively.

Because they understand something important, these opportunities have a shelf life. And by the time most people realize it, the window has already started to close.

So if it’s been a while since you revisited your tax or estate strategy… if your charitable giving hasn’t kept pace with the rules… or if you’re simply not sure whether you’re taking full advantage of this planning environment…

Then let’s talk.

This isn’t just about taxes. It’s about creating clarity for your future, and peace of mind for your family.