4 stories from the week to July 6, 2025, in the order they matter to someone who pays the top rate.
July 4, 2025
The One Big Beautiful Bill Act makes the 2017 rate structure permanent but adds new limits on itemized and charitable deductions that land squarely on top-bracket households.
The Social Security Administration told beneficiaries the new tax bill ends tax on benefits for most. It does not, and the new senior deduction disappears for couples earning $250,000.
Sen. Cynthia Lummis's digital asset tax package would end same-day crypto loss harvesting, defer tax on staking rewards and waive appraisals for donated tokens.
Smaller Washington estates now owe less, but estates above roughly $9 million pay more under a schedule that tops out at the highest state estate tax rate in the country.
General information, not tax, legal or investment advice.