Episode 3: What New Tax Laws Mean for Your Family
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Episode 3: What New Tax Laws Mean for Your Family
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The new tax law comes with some big promises: no tax on tips, no tax on overtime, a new car-loan interest deduction and additional relief for seniors. But what do those headlines actually mean for regular families?
In Episode 3, Steve breaks down several major provisions of the One Big Beautiful Bill Act without the political noise or tax-law jargon. He explains who may benefit, what limitations apply and which records you’ll want to keep.
Steve also shares a Tax Dad warning inspired by a week spent untangling a business owner’s messy books—and explains why poor recordkeeping usually means a larger accounting bill.
Then, in Ask Your Tax Dad:
- Is all of your overtime pay really tax-free?
- Should your family adjust its withholding?
- And what kind of “business” would Steve’s friend Patrick need to operate before his new boat could become a legitimate write-off?
Spoiler: Naming it The Floating Conference Room probably isn’t enough.
Have a question for Ask Your Tax Dad? Email steve@mketax.com or send Steve a message on Instagram at @mketaxdad.
If you enjoy the show, subscribe, leave a rating or review and share it with someone who could use straight answers with a few dad jokes mixed in.
Taxes. Coffee. Dad jokes. Actual answers.