High earners in Minnesota have a unique opportunity to benefit from the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025. With several federal changes taking effect for tax year 2025—and some set to diminish the following year—Echo Wealth Management encourages clients to take timely, strategic action.

Relief Through SALT Deduction Expansion

Beginning in 2025, the state and local tax (SALT) deduction limit will temporarily increase from $10,000 to $40,000. “It’s wonderful news

The One Big Beautiful Bill (OBBBA), signed into law on July 4, 2025, introduced sweeping federal tax changes that impact estate and gift planning. While many of these updates appear favorable at first glance, Minnesota residents face unique state-level challenges that require thoughtful coordination.

“On the surface, these changes look like good news,” says Echo Huang, CFA, CFP®, CPA, founder and president of Echo Wealth Management. “But Minnesota’s estate tax rules remain restrictive, and