The One Big Beautiful Bill Act (OBBBA, also called the “Big Beautiful Bill”) was signed into law by President Trump on July 4th. This legislation addressed a variety of priorities, with its many provisions relating to tax rates, credits, and deductions; border security priorities; and healthcare and entitlements.
The $3.4 trillion fiscal package signed into law by President Donald Trump contains a particularly beneficial provision for innovative small businesses
Protecting the bottom line is essential for long-term success in the ever-evolving business landscape. One often overlooked avenue for achieving this is leveraging available tax credits and incentives.
The election results certainly bring a new day when it comes to taxes – especially for small and medium businesses. In particular, the election will end the log-jam that has held up providing relief from the amortization requirements for research expenses that took effect in 2022 – and bring back the long-time traditional policy of allowing immediate expensing of research costs.
Former Secretary of Agriculture Mike Johanns had not met Brooke Rollins until recently. When he learned President-elect Trump nominated her for agriculture secretary, he made a congratulatory call.
Recently, major questions have been asked about pop-up shops claiming to do taxes with artificial intelligence (AI). Some are even saying they can perform studies for complex incentives such as the Research and Development (R&D) credit.
Corporate tax advisers are gearing up clients for 2024 tax code changes to research and development expenses, an election year that could determine the fate of some high-profile laws, and corporate minimum taxes, among other regulatory actions from the IRS and Treasury Department.
