If you’re a waitress or a waiter, you’ve likely heard about no tax on tips and are already seeing benefits like Atlanta waitress Brenna Warrick, who told The Daily Wire she’s noticed a significant financial improvement. But other tax benefits included in the “Big Beautiful Bill” aren’t so obvious.
If you bought a car, had a child, adopted a child, are a senior citizen, started a business, passed down an estate to your child, or happen to be a manufacturer, you could be missing out on tax benefits included in the legislation. xfmi
If you bought a car that was manufactured in America between January 1, 2025, and December 31, 2028, you can write off up to $10,000 a year in interest paid on your auto loan, assuming you make under $150,000 a year or $250,000 together with your spouse.
And if you bought a new American-made minivan for your newborn, the benefits keep rolling in. If you had a child or adopted a child who was born between January 1, 2025, and December 31, 2028, the baby qualifies for a $1,000 seed investment from the federal government.
Cordt Holub, a fourth-generation farmer from Iowa, told The Daily Wire, “I’ve got a 10-month-old girl. It’s truly a unique opportunity not only for myself and my daughter but for kids all over the country.”
“Every kid born during that time will have the same opportunity to start investing at an early age and see the impact of compound investing,” Holub added. He said he plans to match the investment for his 3-year-old son who was born outside the window for the $1,000 seed investment from the Treasury Department.
Holub also told The Daily Wire about the legislation’s impact on passing down his family farm and making it to the fifth generation.
“In the last five to ten years, inflation has caused land prices to skyrocket and the average age of a farmer is over 60 years old now,” he said. “We are going to hit a turning point in the next couple years of massive amounts of land changing hands. Lowering the death tax keeps that land in the hands of families rather than outside corporations and investors.”
The higher federal estate tax exemption affects more than just family farms and also applies to estates across the country, making it easier for families to pass assets to the next generation. Farms and other businesses also received benefits through 100% bonus depreciation. That means businesses can deduct 100% of equipment and manufacturing costs the second they are placed in service instead of over several years, helping businesses and manufacturers stay liquid.
The legislation’s tax relief extends beyond businesses and farms and offers tax relief for many older Americans through a temporary federal tax deduction of up to $6,000 for qualifying seniors, in addition to the standard deduction.
Barb Kuiper, a grandmother of two from Michigan, told The Daily Wire, “Now that my Social Security isn’t taxed, I can take my grandkids to the zoo without stressing over savings and planning for emergencies.” She added, “Retiring is hard enough and I’m grateful for Republicans like Mike Rogers and President Trump for making sure America’s seniors are well taken care of.”
Waitress Brenna Warrick echoed Kuiper’s comment, telling The Daily Wire, “Before Republicans passed no tax on tips, I worried constantly about making ends meet, falling into credit card debt, and being unprepared for emergencies like an unexpected hospital visit. Now, thanks to Republicans delivering tax relief for tipped workers without Jon Ossoff’s support, I can pay my bills on time, buy presents for my son’s birthday, and even take my first family vacation in years.”
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