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Will We Get Any Tax Savings From the One, Big, Beautiful Bill Act?


Tax law changes can sound exciting… until you’re staring at your documents thinking, “Wait—does any of this actually apply to me?”


Here’s a simple decision-tree style way to check whether the One, Big, Beautiful Bill Act (OBBB) could create real tax savings for your household or business.

Reminder: Eligibility depends on documentation and income phaseouts. Use this as a screening tool — not a guarantee.

Step 1: What tax year are we filing?

  • 2025 return (filed in 2026) → ✅ Continue (many provisions become effective for 2025)

  • 2024 or earlier → ❌ No impact (stop)

  • 2026 and beyond → ✅ Continue (some items continue and may adjust with inflation)


Step 2: Decision Tree — Where could savings show up?

A) Are you a W-2 employee or self-employed with tips?

  • Yes → Did you receive reported tips (W-2/1099, or tips you reported using Form 4137)?

    • Yes → You may qualify for the “No Tax on Tips” deduction (limits + phaseouts apply)

    • No → Move on

  • No → Move on

B) Did you work overtime (and it’s properly reported)?

  • Yes → You may qualify for the “No Tax on Overtime” deduction (limits + rules apply)

  • No → Move on

C) Did you buy a vehicle with a loan?

  • Yes → Does your interest qualify as car-loan interest under the new rules (including the “final assembly in the U.S.” requirement noted by the IRS)?

    • Yes → Potential car-loan interest deduction (limits apply)

    • No / Not sure → Flag for review (this is a common “almost qualifies” area)

  • No → Move on

D) Are you age-eligible for the new senior deduction?

  • Yes → Potential deduction for seniors (details depend on filing status and income)

  • No → Move on

E) Do you usually take the standard deduction or itemize?

  • Standard deduction → Your standard deduction amount may be higher under the Act (varies by filing status and year)

  • Itemize → Still review — don’t assume itemizing stays optimal. The Act can affect multiple deductions/credits, and the “best” method can change year to year.


Quick conclusion: Did you hit “YES” anywhere in A–D?

If you answered yes to any of sections A–D, you likely have at least one planning lever worth validating — and potentially capturing on your return.


What to gather (Client “PBC” checklist)

To confirm what applies, have these ready:

  • W-2s (all employers)

  • Tip reports / records (and Form 4137 if used)

  • Overtime detail (paystubs or payroll summaries)

  • Vehicle purchase documents: purchase agreement, VIN, financing statement / lender interest detail (if provided)

  • Date of birth + filing status (single / MFJ / etc.)

  • Prior-year result: standard vs itemized deduction outcome



Need help validating any of this?

Contact HHI Solutions and we’ll walk through what applies and what documentation you’ll need.



Joyce Hylender

HHI Solutions

601-550-0123

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