Make sure your business gets a head start taking advantage of the tax incentives included in last year's One Big Beautiful Bill Act. Among the major changes for businesses, the OBBBA renews and makes permanent these tax breaks: 100% bonus depreciation, Immediate expensing of domestic R&D costs without a 5 year amortization requirement, Business interest...
The annual Bloomberg “Projected U.S. Tax Rates Report” aims to provide good news this year due to the potential tax savings that could be realized due to increases in deduction limitations, upward adjustments to tax brackets, and increases to numerous other key thresholds as well as adjustments made under the One Big Beautiful Bill Act...
One of the most news-making elements of The OBBBA is the federal deduction for state and local taxes (S.A.L.T.). The new SALT rules quadrupled the maximum for those income offsets. Historically, the SALT deduction was unlimited. That changed and fluctuated over time. In its current iteration, the 2025 tax law has granted a five-year bump-up...
Small business owners can generally use net operating losses (NOLs) to offset taxable income from another tax year. Prior to the Tax Cuts and Jobs Act, NOLs could be carried back two years to offset taxable income before being carried forward for up to 15 years. Under the TCJA, the two-year carryback period was repealed...
The One Big Beautiful Bill Act (OBBBA) makes permanent several of the expiring tax cuts for businesses contained in Trump’s signature 2017 tax legislation—the Tax Cuts and Jobs Act (TCJA). It also has plenty of new tax incentives for businesses and business owners to like, which also present some planning opportunities to save! The IRS...
