OBBBA Deductions and Credits for Individuals

Author: Annette Nellen

This course provides a comprehensive review of OBBB (Act)deductions for individuals, focusing on strategies to maximize tax savings through allowable deductions. Participants will learn how to identify qualifying expenses, apply IRS rules, and optimize itemized deductions such as charitable contributions, mortgage interest, and medical expenses. Gain practical insights to reduce taxable income and enhance client advisory services.

Publication Date: January 2026

Designed For
This webinar is ideal for CPAs, enrolled agents, tax preparers, and financial professionals who assist individuals with tax planning and compliance. Whether you prepare returns or provide advisory services, this session equips you with the tools and strategies to deliver exceptional value and ensure compliance.

Topics Covered

• Tips and overtime income deductions
• Senior deduction
• Deduction for interest on certain car loans
• Changes to itemized deductions
• Standard deduction
• Changes to tax credits for individuals

Learning Objectives

• Identify key OBBBA deductions and their eligibility requirements
• Explain key OBBBA deductions such as for tip and overtime income, seniors and certain car loan interest
• Explain modifications to charitable contribution deduction, state and local taxes, mortgage interest, gambling losses, miscellaneous itemized deductions and an overall limit on itemized deductions
• Explain the treatment of interest on debt secured by a principal or second residence
• Describe planning and due diligence considerations for new and modified deductions in the OBBB(Act)
• Apply IRS guidelines to accurately calculate and report deductions
• Analyze common compliance issues and implement best practices
• Develop actionable plans for advising clients on deduction optimization

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic Understanding of Individual Taxes

Advance Preparation
None