Trump's 'big, beautiful bill' includes these key tax changes for 2025 — what they mean for you

It’s been about two weeks since President Donald Trump’s “big, beautiful bill” became law, and financial advisors and tax professionals are still digesting what the sweeping legislation means for clients

It’s been about two weeks since President Donald Trump’s “big, beautiful bill” became law, and financial advisors and tax professionals are still digesting what the sweeping legislation means for clients.

Meanwhile, several changes are effective for 2025, which will impact tax returns filed in 2026.

While the Trump administration has been promoting “working family tax cuts,” the legislation’s impact depends on your unique situation — and some updates are complex, experts say.

“There are just so many moving pieces,” said certified financial planner Jim Guarino, managing director at Baker Newman Noyes in Woburn, Massachusetts. He is also a certified public accountant.

Currently, many advisors are running projections — often for multiple years — to see how the new provisions could impact taxes.