The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, introduces sweeping changes that will shape tax planning and financial strategies for years to come. Designed to extend key provisions of the Tax Cuts and Jobs Act (TCJA), the OBBBA brings permanent tax bracket adjustments, increases to the standard deduction, and introduces new opportunities—like a senior bonus deduction, an expanded SALT cap, and charitable contribution rules even for standard filers. It also launches the Trump Account Pilot Program, aimed at helping future generations fund education and first-time home purchases. Learn what these tax law changes mean for your financial future, whether you're a retiree, business owner, or high-net-worth individual.

As trusted fiduciary financial advisors in Knoxville, we believe your financial security goes beyond investment management—it includes protecting you from online fraud. From sophisticated smishing scams targeting bank and brokerage clients to the IRS’s 2025 “Dirty Dozen” tax fraud list, cybercriminals are becoming more creative and aggressive. Learn how to spot red flags, secure your accounts, and avoid common scams affecting Tennessee investors, retirees, and professionals. Stay informed, stay safe, and partner with a financial advisor who puts your security first.

For those who follow markets and macroeconomics closely, the first half of 2025 has been nothing short of dramatic. For everyone else, it’s likely felt exhausting. Trade disputes, market volatility, an escalating conflict in the Middle East, and rising national debt have made financial headlines feel like a never-ending stream of bad news.

Since bottoming on April 8th amid tariff-induced uncertainty, the stock market has mounted a robust rally, fueled by renewed investor confidence and resilient corporate earnings. In contrast, the bond market has remained volatile, burdened by concerns over U.S. fiscal sustainability and uncertain monetary policy.

On May 22, the House of Representatives passed a major tax bill called “The One Big, Beautiful Bill.” The goal is to extend and expand specific provisions of the Tax Cuts and Jobs Act (TCJA), which are set to expire at the end of the year. The bill provides a clearer view of potential tax changes.

After a strong start to the year, markets took a step back in February and March. Global stocks returned -1.3% for the quarter, while the S&P 500—led by a pullback in tech—fell 4.3%. From its recent peak, the S&P 500 declined over 10%, entering correction territory.

Digital currencies, also known as cryptocurrencies or virtual currencies, have gained significant attention in the financial world due to their decentralized nature and technological advancements.

If you are just now thinking about ways to reduce your 2024 tax bill, you’re not alone. Many taxpayers wait until they experience the sticker shock of their impending tax bill to take action.

At Proffitt & Goodson, we believe that financial management is about more than just numbers. It’s about purpose. For our institutional and nonprofit clients, this means aligning financial strategies with their mission to create lasting impact. 

We’re all in on your money mission.

The Financial Crimes Enforcement Network (FinCEN) has reinstated the Beneficial Ownership Information (BOI) reporting requirement under the Corporate Transparency Act (CTA), following a recent federal court decision that lifted a previous injunction. As a result, many companies must now file their BOI report by March 21, 2025.

With the prospect of renewed tariffs under the Trump administration, many investors are understandably concerned about how trade policies could impact their portfolios. Markets dislike uncertainty, and history has shown that tariffs can cause short-term volatility—but as the S&P 500’s long-term trajectory reminds us, investors who stay the course are often rewarded.

Interest rates remain volatile as investors react to economic conditions and Federal Reserve policies. With high beginning yields, bonds provide both income and portfolio stability, making them a key component of a well-diversified investment strategy.

Market leadership is cyclical, and with U.S. stocks, particularly large tech companies, trading at high valuations, international markets offer another level of diversification at attractive valuations. International stocks offer economic and geographical diversification, helping investors navigate market cycles and avoid overexposure to any single country, sector, or company.

After two years of double-digit stock market gains, investors should temper expectations due to elevated optimism and enthusiasm for stocks. Overconcentration in high performing "Magnificent 7" stocks poses risks, and diversification through broader U.S. market exposure …

At Proffitt & Goodson, we help high-net-worth individuals and families proactively address the risks that can undermine even the best estate plans. Our team will review your current plan and ensure that it’s up to date, protecting your wealth and your loved ones.

For high-quality bonds, starting yields are strongly correlated to subsequent returns. The Bloomberg U.S. Aggregate Index currently yields 4.6%, much higher than the recent past. 

As the end of the year approaches, financial markets have once again demonstrated a resilience and consistent capacity for exceptional performance. With strong global stock market gains…

The recent presidential election has once again put the financial markets into a whirlwind, influencing everything from stock prices to bond yields and currency valuations. As investors and analysts try to gauge the full…

It’s hard to believe we are just six short weeks from 2025. While the year is coming to a close, there is still plenty of time to ensure your finances end the year on a positive note. Consider several end-of-year planning…

Tax planning can be complex, especially for high-net-worth individuals. At ProffittGoodson, a leading financial advisory firm based in Knoxville, Tennessee, we…