Hey there! Welcome to the Carry Letter 👋 We’ll be exploring the latest financial news and discussing how it affects entrepreneurs like you. Plus, we'll share some awesome wealth creation insights from successful entrepreneurs.

Let’s dive in! 🏊‍♂️

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Last week, we mentioned one wild detail in Trump’s new tax law: a $1,000 “Trump Account” for every child born between 2025 and 2029.

That email sparked a lot of curiosity and a ton of great questions.

So this week, we’re zooming out to cover the whole bill at a high level. That includes what’s in it, what’s changed, and what you can actually do about it.

And if you want to go deeper, we’re hosting a free livestream on Wednesday, July 16. Details below (or click here to RSVP).

What’s Inside the “One Big, Beautiful Bill”?

This massive legislation (signed by President Trump on July 4, 2025) extends and adds to many major tax and spending provisions. Here are some of the most notable updates:

1. Lower Tax Brackets, for Good
   The 2017 tax cuts were set to expire. Now they’re locked in. Most high earners will pay less in federal taxes.
   
   

2. Estate & Gift Tax Exemption Doubled
   You can now pass on up to $15 million per person ($30 million per couple) without triggering estate tax.
   
   

3. Big Boost to Small Business Stock (QSBS)
   The tax-free gain exclusion is now $15 million, and you can qualify for a partial exclusion after 3 years.
   
   

4. The 20% Pass-Through Deduction Is Here to Stay
   If you have an LLC, S Corp, or another pass-through business, you can continue to deduct 20% of qualified income.
   
   

5. SALT Deduction Increased
   State and local tax deductions jumped from $10K to $40K, which helps those in high-tax states.
   
   

6. Bonus Depreciation Is Back
   Businesses can again write off 100% of certain equipment or vehicle purchases in the year they buy them.
   
   

7. $1,000 Trump Account for Newborns
   Every baby born from 2025 to 2029 gets a government-funded investment account (see last week’s email for more details).
   
   

8. Expanded HSA Rules
   You can now qualify for a Health Savings Account (HSA) with more types of insurance. It also allows first-dollar coverage for telehealth.
   
   

9. Other Updates
   Child Tax Credit raised to $2,200. Some new deductions added for tips, senior expenses, and auto loan interest.

What could this mean for you?

There’s a lot packed into this bill.

If you’re a high earner, self-employed, or running a side hustle, these changes could impact how you earn, save, and plan moving forward. So what can you do from here?

Join us for a free workshop to break it all down:

We’re hosting a free livestream to walk through what’s inside and will even do a Q&A at the end. Join us on…
📅 Wednesday, July 16
🕐 11am PT / 2pm ET
🎟️ Save your seat here »

What’s Happening at Carry Lab?

Here’s what you can expect in the coming weeks

See the full list of events here. ⏰

Want More?

Still can’t get enough? Well, we’ve got you covered!

Think your friends might like it? Be sure to share it with them! 📩

If you want more resources on building wealth as a solopreneur/entrepreneur, check these out:

• The Solo 401k handbook

• The Roth IRA handbook

• The Self-Directed IRA handbook

• The Guide to Paying Less in Taxes

• What is a Solo 401k?

• How to Open a Solo 401k