The One Big Beautiful Bill Act of 2025 enacts sweeping changes across a wide spectrum of tax, fiscal, and economic policy. The Act includes a combination of both permanent and temporary provisions—some, such as the qualified business income deduction and small business tax incentives, are made permanent, providing long-term planning certainty. Others, including the temporary increase in the standard deduction, relief from the SALT cap deduction, and the expanded child tax credit, are set to expire under sunset provisions.
Given the far-reaching scope of the Act, clients and their advisors must evaluate tax planning opportunities not only based on their technical merits, but also within the context of timing and legislative volatility.
Callan Family Office is pleased to share what we feel are the Act’s provisions that are most relevant to ultra-high-net-worth individuals, families, and their family office structures. Each section includes actionable insights, strategic interpretations, and proactive planning steps sophisticated clients and their advisory teams should consider in response to this new legal environment. The goal is not only to preserve favorable positions and exemptions under current law, but also to anticipate shifts in enforcement, compliance, and structuring that may influence wealth planning for decades to come.
In addition, we are pleased to share a chart listing the more significant impacts of the Act in your planning and tax considerations.