Bifalgorithm post

You may have heard or read about significant changes to federal tax law resulting from the enactment of the One Big Beautiful Bill Act or a BBA signed into law in 2025. This sweeping legislation makes permanent and enhances many provisions originally enacted under the Tax Cuts and Jobs Act TCA, introduces new deductions and credits, and repeals or restricts several recent tax in Senates. I'm Jennifer with Beckley Associates and I'm here. To summarize some of the most important provisions that may affect you, your family, or your business effective for tax years beginning after December 31 St 2024 unless otherwise noted. Some of these provisions are designed for businesses and investments, including. Qualified business income deduction. This, the phase threshold for the QBI deduction has increased to 75 thousand or 100 and 50 thousand dollars for joint filers and a 400 dollars minimum deduction is established for active business income with inflation adjustments. Full EXP expenseing for business property. 100 percent bonus depreciation for qualified business property is made permanent with transitional options reduced for reduced percentages in 2025. Section 100 and 79. Expenseing. The expenseing limit is increased to 2.5 million dollars with a phase out at four million dollars both index for inflation. We recommend reviewing your current tax situation and planning strategies in light of these changes. Many of the new provisions are effective for the 2025 tax year, but some have immediate or phased in effective dates. These are just a few of the changes resulting from the enactment of the One Big Beautiful Bill Act. Check out our youtube channel for more videos about OBA provisions. Please contact us to discuss how these changes may affect your individual or business tax planning. Thank You.

You may have heard or read about significant changes to federal tax law resulting from the enactment of the One Big Beautiful Bill Act or a BBA signed into law…