2029 accounted income tax 
Withum
JULY 4, 2025
One Big Beautiful Bill Tax Provisions The One Big Beautiful Bill includes the following significant federal income tax provisions. Amounts continued to be adjusted until the the state and local tax cap will revert to $10,000 in the 2029 taxable year.
ThomsonReuters
JULY 23, 2025
Jump to ↓ Key provisions and changes Challenges and opportunities for tax professionals Planning opportunities Key takeaways from the One Big Beautiful Bill Act The One Big Beautiful Bill Act (OBBBA) has brought significant changes to the tax landscape, presenting both challenges and opportunities for tax professionals and their clients.
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ThomsonReuters
JULY 21, 2025
This change is part of a broader tax reform effort that also includes adjustments to other deductions, such as reducing itemized deductions for high earners. The cap is set to increase by 1% each year through 2029, with the limit reverting to $10,000 in 2030.
Withum
JUNE 24, 2025
The 199A deduction is eventually phased out for specified service trades or businesses (SSTBs) when an owner’s taxable income exceeds a certain threshold amount. Current law applies this phase-out when taxable income exceeds $100,000 for married filing joint taxpayers ($50,000 for all others).
ThomsonReuters
JULY 21, 2025
This includes individual income tax rate reductions, the increased standard deduction, and higher alternative minimum tax (AMT) exemption thresholds. Increased to $15,750 for single filers and $31,500 for married filers (up from $15,000/$30,000), indexed for inflation. State and Local Tax (SALT) deduction.
Insightful Accountant
JUNE 30, 2025
The SALT deduction changes remain substantial, retroactively increasing the limitation to $40,000 for 2025 and $40,400 for 2026, with one percent annual increases through 2029 before reverting to $10,000 in 2030. A residential construction accounting exception was also added to the community development section.
Dent Moses
JULY 8, 2025
Among its major provisions, The Act offers deductions to eliminate income taxes on certain tips and overtime pay, enhances small business tax relief, and repeals numerous clean energy tax incentives. SALT Cap: Temporarily raises the state and local tax deduction limit to $40,000 through 2029, reverting to $10,000 in 2030.
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