What H.R.1, “OBBBA” (Commonly Known as “The Big Beautiful Bill Act”) Means for You and Your Clients: Business, Tax Credits, Administrative, and

Overview

The One Big Beautiful Bill Act (OBBBA) introduces substantial updates to business tax planning, deductions, credits, and compliance. This course examines the sweeping provisions now codified into law that affect flow-through entities, corporate taxpaye

Highlights

Key Topics

Taxes

Learning Outcomes

• Identify the key changes made to IRC §199A and determine their application
• Calculate bonus depreciation under the new permanent rules
• Apply Section 179 limitations and phaseouts to qualifying property
• Determine how EBITDA modifies the business interest deduction limitations under IRC §163(j)
• Identify how excess business loss limitations affect flow-through entities
• Use revised options for treatment of research and experimental expenses under IRC §174
• Recognize changes to 1099-K and general Form 1099 reporting thresholds
• Determine the impact of new corporate charitable contribution limits and excise tax brackets

Prerequisites

Basic understanding of federal business tax law

Designed For

Who Will Benefit

CPAs, EAs, tax professionals

Objectives

Learning Outcomes

• Identify the key changes made to IRC §199A and determine their application
• Calculate bonus depreciation under the new permanent rules
• Apply Section 179 limitations and phaseouts to qualifying property
• Determine how EBITDA modifies the business interest deduction limitations under IRC §163(j)
• Identify how excess business loss limitations affect flow-through entities
• Use revised options for treatment of research and experimental expenses under IRC §174
• Recognize changes to 1099-K and general Form 1099 reporting thresholds
• Determine the impact of new corporate charitable contribution limits and excise tax brackets