The One Big Beautiful Bill Act (OBBBA) has made headlines for locking in several parts of the 2017 Tax Cuts and Jobs Act (TCJA) — but thankfully, not the old $10,000 cap on state and local tax (SALT) deductions. If you live in a high-tax state or pay substantial property taxes, this change could make...
Plain-English guide to OBBBA changes for 1099-NEC and 1099-K: what applies in 2025, what changes in 2026, and which states use lower 1099-K thresholds. The One Big Beautiful Bill Act (OBBBA) changed the thresholds for Form 1099-NEC and 1099-K. Here’s what applies for the 2025 tax year, what changes in 2026, and how state rules...