The One, Big, Beautiful Bill (OBBB) addressed the so-called “trifecta” package of business tax provisions: the expensing of research and development (R&D) costs under Section 174, computational changes to the interest expense limitation under Section 163(j), and the restoration of the 100% bonus depreciation deduction in the first year that certain property is placed in service. The qualified business income deduction under Section 199A would also be made permanent and modified slightly. Additional changes such as new deductions and technical modifications require further analysis to fully unpack tax-planning opportunities.
During this webinar, our legislative tax specialists discuss the business tax implications of the OBBB and what organizations should be considering both now and in the future.
Learning objectives:
- Understand how changes to the expensing of R&D costs under Section 174, computational changes to the interest expense limitation under Section 163(j), and restoration of the 100% bonus depreciation deduction could affect your tax planning.
- Identify tax-planning strategies to manage the changes in the OBBB and understand what areas may require additional analysis and discussion for your organization.
- Evaluate what new tax-planning opportunities may exist for your organization and determine applicable next steps.
