Accounting for Small Business, Income Taxes
For many years, personal vehicle loan interest has not been deductible for most taxpayers. The One Big Beautiful Bill changes that for certain taxpayers beginning in 2025. What’s Changing? The new law creates a deduction for qualifying vehicle loan interest....
Accounting for Small Business, Income Taxes
One provision receiving significant attention under the One Big Beautiful Bill is a new tax deduction available to many seniors. While some headlines suggested that Social Security benefits would no longer be taxed, that is not exactly what happened. Instead, Congress...
Accounting for Small Business, Income Taxes, New Business Start-Up
The One Big Beautiful Bill (OBBB) contains numerous tax provisions that could impact small business owners for years to come. While much of the media attention has focused on individual tax breaks, business owners should pay close attention to several key provisions...
Accounting for Small Business, Income Taxes
The One Big Beautiful Bill (OBBB) introduces several tax changes that could impact millions of taxpayers beginning with the 2025 tax year. While the legislation contains hundreds of provisions, these are the ten changes most likely to affect individuals, families,...
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