​Meet Carol, a 72-year-old widow with a $6 million IRA and a $10 million estate. She’s not spending much, and her Required Minimum Distributions (RMDs) are just adding to her taxable estate. Her kids are successful, but she wants to leave them something meaningful—and ideally, not a tax headache.

Carol’s estate is projected to exceed the federal exemption, meaning her heirs could face a 40% estate tax on everything above the limit. That’s a big bite.

So, what do we do?

We start converting.

Each year, Carol converts $500,000 from her traditional IRA to a Roth. She pays the tax now, reducing her estate and shrinking the assets subject to that 40% hit. The Roth grows tax-free, and her heirs can stretch the account for up to 10 years after her passing—without triggering immediate income tax.

It’s not about guessing future tax rates. It’s about controlling the timing of taxes, reducing estate exposure, and creating a more flexible legacy.

So when do we like Roth conversions?

• When estate taxes are in play. Shrinking taxable assets now can save millions later.
• When we can control the tax timing. RMDs force your hand. Conversions let you choose.
• When legacy is the goal. Roth IRAs give heirs time—10 years of tax-free growth, if managed properly.

​We don’t love conversions as a bet on future tax rates. That’s like trying to predict the weather in 2045. But when the math works, and the goals are clear, Roth conversions can be a beautiful thing.

Want to explore whether a Roth conversion makes sense for you? Start with a 15-Minute Retirement Check-In, or dive deeper with a Strategy Session or Partnered Planning engagement.  We start with a quick check-in, move into strategy, and offer ongoing partnership for those who want deeper support. It’s not just about numbers—it’s about aligning your financial life with your values and goals.

Sometimes, the best tax strategy isn’t about saving today—it’s about planning for tomorrow.

Let’s meet Tom and Linda, a married couple living in New Mexico. Tom just turned 65, Linda is 62, and both are still working full-time. They’re not quite ready to retire—but they’re definitely thinking about it.

Thanks to the One Big Beautiful Bill Act, they now have some powerful new tools to help them plan smarter, save more, and maybe even retire a little earlier.

Here’s how.

1. The $6,000 Personal Exemption for Seniors. Tom, being 65, qualifies for a new $6,000 personal exemption—on top of the existing senior standard deduction. If Linda were also turning 65 before year-end, she would qualify too. That’s $12,000 in additional deductions for the couples over the age of 65, assuming their income is below the $150,000 phaseout threshold.

Planning Tip: If their income is close to the limit, they could attempt to defer some income until 2026 or accelerate a deductible expense, like a large charitable contribution into 2025.

2. Above-the-Line Charitable Deduction. Starting in 2026, Tom and Linda can deduct up to $2,000 in charitable contributions even if they don’t itemize. That’s a win for generosity and tax planning.

Planning Tip: If they typically give to charity, they should consider bunching donations or using donor-advised funds to maximize their impact and deductions.  The $2,000 above the line deduction as an fyi cannot be made from a donor-advised fund.

3. Roth Conversion Opportunity. With these new deductions and a stable tax bracket structure, Tom and Linda have a golden opportunity to convert some of their IRA assets to Roth IRAs—without shrinking their accounts or bumping into a higher tax bracket.

Why it matters:

• Roth IRAs grow tax-free
• No Required Minimum Distributions (RMDs)
• Can reduce future Medicare premiums
• Helps surviving spouses avoid higher single filer tax rates
• Advantaged for your heirs over traditional IRAs

Planning Tip: Use the savings from the new deductions to pay the conversion tax. It’s like turning a tax break into a long-term retirement win.

Real-Life Insight: The Roth Conversion Misstep. We once worked with a couple who converted a large IRA balance all at once—without considering the impact on their Medicare premiums. The result? A surprise surcharge and a higher tax bill.

With Tom and Linda, we’d take a measured approach: convert just enough each year to stay within their current bracket and avoid triggering Income Related Monthly Adjustment Account or IRMAA penalties.

Other Planning Opportunities:

• Social Security Timing: Tom may want to delay benefits to increase his monthly payout, while Linda could file earlier depending on their income needs.
• Health Savings Accounts (HSAs): If either is still eligible, they can contribute pre-tax dollars for future medical expenses.
• Estate Planning: With the estate tax exemption now set at $15 million per person, they can revisit their legacy strategy with confidence.

What’s Next? If you’re like Tom and Linda, the One Big Beautiful Bill might be your chance to rethink retirement. And if you’re not sure where to start, we’ve got you covered:

• Try our 15-Minute Retirement Check-In—it’s free, fast, and insightful.
• Book a Strategy Session to tackle your biggest financial questions.
• Explore Partnered Planning for a comprehensive roadmap to retirement.

Final Thought. Tax law changes can feel overwhelming—but they also create opportunities. With the right guidance, you can turn those changes into real-life wins.

If you own a business—big or small—the Big Beautiful Bill is packed with tax breaks to help you grow, invest, and save.

What’s New for Business Owners?  

1. 100% Write-Offs for New Investments
Buy a new truck? Upgrade your computers? Build a new office? You can now deduct 100% of the cost right away. That means big savings in the year you spend the money.

2. 20% Income Deduction—Now Permanent
If you own an LLC, S-corporation, or other pass-through business, you can still deduct 20% of your profits from taxes. And now, that rule is permanent.

3. Minimum Deduction for Small Businesses
Even if your business only makes $1,000 in profit, you still get a $400 deduction. It’s a small but meaningful boost for side hustles and startups.

4. R&D Write-Offs Made Easier
If you invest in research or product development, you can now deduct those costs right away instead of spreading them out over years.

How do these help a business owner’s wallet? 
In straightforward terms, these changes mean lower taxes when you grow your business. For example, if your company buys a $50,000 piece of equipment, you can deduct the entire $50k this year. If you’re in roughly a 21% tax bracket (typical for a corporation) or higher (for personal business income), that could save over $10,000 in taxes immediately. That’s money you don’t have to pay to the government, letting you possibly buy another piece of equipment or hire someone sooner.

Similarly, the permanent 20% income deduction means if your small business earns $100,000 in profit, about $20,000 of that isn’t taxed. If you pay, say, ~24% tax on that income, that’s around $4,800 less in taxes each year – a significant savings. Over multiple years, this adds up and can be reinvested into the business or saved for lean times. All in all, the tax savings give business owners more capital to reinvest, expand, and create jobs.

How can we help business owners? 
InTrust Advisors works closely with business owners to strategize around these tax changes. We can help you plan the timing of major purchases or investments to take full advantage of the 100% write-offs – for instance, deciding whether to buy equipment this year or next for optimal tax impact.

We also assist in tax planning in coordination with your CPA to ensure you’re properly using the 20% income deduction and any other credits available.

Please note the exact terms of these Big Beautiful Bill provisions were not specified for simplicity.  You should seek qualified tax help in implementing any of the provisions above.

Because the Big Beautiful Bill is so comprehensive (over 800+ pages!), it contains many provisions beyond the headline items. Some of these didn’t get a lot of media attention but are worth noting.

​Here are a few lesser-known changes in the new law:

• Tax Breaks for Tipped Workers and Overtime Pay: The bill includes special perks for working folks who earn tips or overtime. If you receive tips on the job (like servers, taxi drivers, hairdressers, etc.), you can now exclude up to $25,000 of those tips from your taxable income. This means the first $25k in tips each year could be tax-free. Similarly, if you work a lot of overtime hours, the law lets you deduct a portion of your overtime pay – effectively making up to $12,500 of overtime earnings tax-free as well. These provisions (available through 2028) put more money back in the pockets of those working extra hours or relying on tips. 
• Above-the-Line Charitable Deduction for Everyone: Usually, only people who itemize deductions (often higher-income folks with mortgages, etc.) get to deduct charitable donations on their taxes. The new law introduces a special $1,000 “above-the-line” charitable deduction for anyone, even if you don’t itemize. Married couples can get $2,000. This means you can donate to your favorite charity and subtract that amount from your income before calculating taxes, in addition to your standard deduction. 
• New 1% Tax on Big Money Transfers Abroad: One surprising addition is a 1% tax on certain money transfers leaving the United States (often called a remittance tax). If someone sends money to another country (for example, wiring a large sum to a foreign bank or as a remittance), a 1% fee may apply to the amount. The bill exempts many smaller routine transfers and personal remittances, so this mainly targets large or business-related outflows. While most Americans won’t encounter this, it’s noteworthy as a new kind of tax that didn’t get much press. 
• Green Energy Tax Credit Rollbacks: The law quietly rolled back or repealed a number of green energy incentives that were previously available. For instance, certain tax credits for buying electric vehicles, installing solar panels, or other clean energy projects were reduced or eliminated for the future. Projects that are already in the pipeline may be grandfathered in, but going forward, the generous credits from the 2022 Inflation Reduction Act (like the EV credit, solar credit, etc.) are largely scaled down. This change was not highlighted in general news about the bill (which focused more on tax cuts), but it could affect individuals and businesses planning large clean energy purchases. They might find the expected tax rebates are smaller or unavailable. On the flip side, the bill extended a credit for clean fuel production through 2030 and kept some incentives for things like nuclear and hydropower projects. 

Why do these obscure changes matter? Even if these items don’t affect you directly, they show how far-reaching the bill is. For example, the breaks on tips and overtime benefit service industry workers – putting a bit more cash in the pockets of waiters, bartenders, ride-share drivers and others who work hard for extra pay.

The new above-line charity deduction is a plus for civic-minded folks at all income levels, possibly boosting donations to nonprofits. The remittance tax might influence high-net-worth individuals or businesses moving funds internationally (or even foreign workers in the U.S. sending money home, though many small transfers are exempt). And the rollback of green credits might change the math for anyone considering buying an electric car or installing solar panels in the future.

If you’ve built significant wealth during your lifetime, the Big Beautiful Bill offers powerful tools to protect it—and pass it on. What’s New for the Ultra-Wealthy?

1. Estate Tax Exemption Raised to $15 Million
You can now pass on up to $15 million tax-free—or $30 million as a couple. That’s a huge jump from before and helps shield your legacy from estate taxes. 

​At $30 million in available exemptions for a couple this means that only 1 in 400 households will be impacted by estate taxes or approximately 350,000 families nationwide.

2. SALT Deduction Expanded (Temporarily)
You can now deduct up to $40,000 in state and local taxes—up from $10,000. This helps those in high-tax states save more.

3. Income Tax Rates Stay Low
The top income tax rate stays at 37%, instead of rising to 39.6%. That means more of your income stays with you.

4. No New Wealth Taxes
The bill didn’t add any new taxes on investment income or estates. It also kept the step-up basis and carried interest rules unchanged.

What kind of savings are we talking about for the ultra-wealthy? 
These changes can translate into massive tax savings. For example, consider the estate tax: previously, if the exemption was about $13 million and someone died with $20 million estate, roughly $7 million could be taxed (at a 40% rate, that’s ~$2.8 million tax due). Now, with a $15 million exemption, the taxable portion in that scenario drops, potentially saving $800,000 or more in estate taxes for their heirs – and if future laws had let the exemption fall to around $7 million, the difference is even bigger (saving on the order of $3+ million in tax).

The raised SALT deduction cap could save a high-earner in a high-tax city up to an additional $10,000+ per year in federal taxes for a few years (since they can deduct $40k of state tax instead of only $10k). And by keeping the top income tax rate at 37% rather than 39.6%, someone with a multimillion-dollar income saves roughly 2.6 cents on every top-end dollar – which adds up to tens or even hundreds of thousands of dollars less in taxes annually for ultra-high incomes. All in all, the ultra-wealthy can preserve more of their wealth, both when earning it and when passing it on to the next generation.

How InTrust Advisors can help ultra-wealthy clients?
We specialize in helping high-net-worth families with wealth management, tax optimization, and estate planning. With the new law, we assist clients in updating their estate plans to fully leverage the $15 million exemption. This might involve strategies like creating or funding dynasty trusts to lock-in the large exemption, accelerating gifting to children or grandchildren (since the higher limits are in place), and generally ensuring your legacy is passed on tax-efficiently. We also provide family office services that cover everything from coordinating with estate attorneys to managing philanthropic endeavors under the new rules.

For example, with the SALT deduction changes, we can examine if it makes sense to prepay certain taxes or restructure how you handle state tax payments in the high-cap years. With income tax rates staying low, we continuously review your investment and income strategies to capitalize on these rates (i.e., harvesting gains, Roth conversions, etc., when advantageous under current law).

InTrust Advisors essentially becomes your partner in navigating these complex changes – making sure you capitalize on every opportunity to save on taxes while safeguarding and growing your wealth for the long term. Our goal is that ultra-wealthy clients keep and control more of their wealth, with smart planning that aligns with the new tax landscape.

Please note the tax law changes noted about are greatly simplified from that actual rules outline in this bill.  Please seek the help of a licensed CPA in evaluating the exact rules, phase outs and enactment periods.