Episode 117: One Big Beautiful Bill - What the Proposed Tax Bill Could Mean for your Wallet

In this podcast, listeners will hear about:

• The proposed return of the auto loan interest deduction, including income phaseouts and U.S. vehicle assembly requirements.

• Reinstatement of 100% bonus depreciation for qualifying property between 2025–2030.

• Increased limits for Section 179 expensing on business asset purchases.

• Temporary suspension of R&D amortization rules, allowing immediate expensing of research costs through 2030.

• Expansion of the Qualified Business Income (QBI) deduction from 20% to 23% for certain pass-through businesses.

• New deductions for tip income and overtime pay without requiring itemization.

• A proposed increase of the SALT deduction cap from $10,000 to $40,400 with income-based limits.

• A “permanent” increase of the estate and gift tax exemption to $15 million, indexed for inflation starting in 2026.

• Plans to eliminate energy tax credits to help offset the cost of these tax cuts.

• Commentary on the legislative process and the likelihood of Senate revisions before final passage.

In this inspiring and thought-provoking episode, repeat guest Alan Kovitz, founder of Elevations Unlimited and author of A Book of Values, opens up about the moment that redefined his life—and how it became the foundation for his 26-year coaching practice.

Entrepreneurs will hear:

• How personal setbacks can ignite professional transformation: Alan shares the story of a nine-month recovery that became the launchpad for a complete life and career reboot.

• Why mindset is the real game-changer: It’s not just about business plans—it’s about rewiring the way you think so you can build the life and business you actually want.

• The difference between coaching and therapy: Alan draws a clear line—he helps clients move forward with clarity and purpose, not backward through their pain.

• Why the best coaching isn't a template: He rejects the “do it my way” coaching model. Instead, he helps clients uncover their way—and teaches them to trust it.

• How personal growth unlocks professional success: Alan explains why personal breakthroughs often come before business ones—and how values-driven reflection can lead to life-altering decisions.

• The impact of writing it down: From dream inventories to values assessments, Alan explains why clarity lives on paper, and how writing goals can quietly transform your reality.

• Why entrepreneurs need to stop chasing and start aligning: He coaches high-performers not to run faster—but to run in the right direction, with purpose.

With stories that range from CEOs changing course to clients leaving years of medication behind, Alan shows that real success starts from within. His candid take on modern coaching is equal parts challenge and invitation: know what matters, write it down, and build a life that reflects it.

His book, A Book of Values, isn’t just for entrepreneurs—it’s a toolkit for anyone ready to connect what they do with who they are.