Episode 178
The Big Beautiful Bill: What These Tax Changes Mean to You and Your Business [E178]
Thanks to our partner Promotive
A 900-page monster of a law just dropped—and it’s about to change how you pay taxes, deduct expenses, and run payroll at your repair shop.
This week, Hunt Demerast, CPA at Paar Melis & Associates, breaks down the One Big Beautiful Bill Act (OBBA) and how its sweeping tax reforms affect your shop, your employees, and your personal finances. You’ll hear what stayed the same, what changed unexpectedly, and what you need to keep an eye on before making any big moves.
From bonus depreciation to SALT deduction caps, tips and overtime loopholes to gambling losses—yep, that's in there too—this episode simplifies the complex and sets you up for strategic tax savings.
What You’ll Learn:
00:34 – Why the “Big Beautiful Bill” is no joke
02:24 – What’s not in the bill: no politics, just business
04:45 – Child Tax Credit: what stays the same and why it matters
07:03 – QBI deduction: still 20%, but what it means for your bottom line
09:27 – Bonus Depreciation: the biggest unspoken impact
11:12 – SALT Cap raised to $40k: huge win for high-tax states
16:55 – 3 campaign promises that actually passed
17:10 – No tax on Social Security? Yes…and no
19:34 – Tips & Overtime: $25k income deduction per category
24:08 – Gambling losses capped at 90%: a hidden tax hike?
26:22 – Are meals finally off the table?
28:11 – Trump Accounts: the “non-IRA IRA” for your kids
30:31 – Car loan interest deduction—boon or trap?
33:24 – Qualified Production Property: a sleeper hit for shop owners?
35:45 – What you should (and shouldn’t) do now
Thanks to our partner Promotive
It’s time to hire a superstar for your business; what a grind you have in front of you. Introducing Promotive, a full-service staffing solution for your shop. Promotive has over 40 years of recruiting and automotive experience. If you need qualified technicians and service advisors and want to offload the heavy lifting, visit www.gopromotive.com.
Paar Melis and Associates – Accountants Specializing in Automotive Repair
Visit us Online: www.paarmelis.com
Email Hunt: podcast@paarmelis.com
Text Paar Melis @ 301-307-5413
Download a Copy of My Books Here:
The Aftermarket Radio Network: https://aftermarketradionetwork.com/
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The Auto Repair Marketing Podcast with Kim and Brian Walker https://autorepairmarketing.captivate.fm/
The Weekly Blitz with Chris Cotton https://chriscotton.captivate.fm/
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