Updated: July 15, 2025
📝 The U.S. government passed a new tax law called the “One Big Beautiful Bill.” It keeps some tax rules the same, adds a few perks, and removes some benefits. If you’re a creator, this article helps you understand what matters—and what doesn’t.
The amount of tax you pay based on your income (called tax brackets) will not go up in 2025 like it was supposed to. That’s good news—nothing changes here.
If you have an LLC or S Corp, you may get a 20% deduction on your business income. That rule was going to expire but is now permanent. It’s a major tax saving for business owners.
The bill says some tips don’t get taxed—but only for W-2 employees (like restaurant workers). If you’re self-employed and get “tips” on PayPal or YouTube, you still have to report that money as income. Sorry, streamers!
Homeowners in high-tax states like New York and California can now deduct up to $40,000 in real estate taxes (up from $10,000). But if you rent or live in a low-tax state, this doesn’t affect you.
The credit per child increases from $2,000 to $2,200—and it’s now permanent. That’s helpful for families.
Babies born between 2024–2028 will get a one-time $1,000 investment account. The money is for education and only gets taxed on gains later.
If you buy a U.S.-made car and make less than $100K ($200K for couples), you can write off some interest—up to $10,000. It’s a small bonus for those buying a vehicle.
The tax breaks for buying electric vehicles or installing solar panels are gone. If you were planning to go green, that incentive has been removed.
Despite online hype, the bill doesn’t unlock new benefits for Airbnb hosts—unless you’re a full-time real estate pro. Don’t believe the “biggest Airbnb gold rush” claims.
To pay for the tax cuts, other programs like Medicaid and SNAP got cut. It may not impact you now, but it could if you use public benefits in the future.
If you’re a creator, not much changes—unless you own a business or qualify for certain credits. But now is a great time to make sure your tax structure (like an LLC or S Corp) is working for you.