OBBA 2025 Unpacked: Impact for Taxpayers and Business Owners

Overview

Whether you asked for it (or not) and its here!  The One Big Beautiful Bill Act was signed on July 4.  This program will dig into the meat of the Act that will matter to your clients, including No Tax on Tips, No Tax on Overtime, increased Section 199A Deduction, 100% Section 168(k) Bonus and much, much more!

*Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Prerequisites

Basic knowledge of individual and business taxation

Objectives

• Identify provisions of the OBBA of 2025 for individual and business taxpayers
• Apply key compliance issues
• Discuss tax planning implications for the upcoming tax season

Highlights

• An overview of provisions of existing law extended, made permanent without substantial change and/or WITH substantial changes, including casualty losses, individual tax rates, alternative minimum tax, bonus depreciation, Sec. 179 immediate expense deduction, deduction of research and experimentation expenses
• New law provisions for individuals and businesses
• Review of existing law provisions that have been repealed, including electric car credit, home energy credits, commercial clean vehicle credit and electric car charger credit