One Big Beautiful Bill Act – U.S. Tax Reform
One Big Beautiful Bill Act – U.S. Tax Reform
Al Meyers
Sr. Director of Tax Services & Strategic Planning
Rocio Elise Brandau
Director of Sales & Business Development
One Big Beautiful Bill Act – U.S. Tax Reform
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, represents the most significant overhaul of the U.S. tax code in nearly a decade. This landmark legislation introduces sweeping changes that affect individual taxpayers, small businesses, and corporations alike. From new tax breaks on tips and overtime pay to expanded family credits and enhanced business deductions, the OBBBA reshapes the tax landscape for the 2025 tax year and beyond.
In this complimentary webinar, Manay CPA experts Al Meyers, Sr. Director of Tax Services & Strategic Planning, and Rocio Elise Brandau, Director of Sales & Business Development, break down the key provisions of the OBBBA and explain how they impact your tax planning, investment strategies, and IRS compliance obligations. Whether you are an individual filer, a business owner, or a tax professional, this session provides the practical insights you need to navigate the new rules and maximize your benefits under the reformed tax code.
One Big Beautiful Bill Act – U.S. Tax Reform
What are the major tax changes introduced by the One Big Beautiful Bill Act?
The OBBBA introduces several landmark changes, including tax-free treatment of tips and overtime pay for eligible workers, significantly expanded child and family tax credits, increased standard deductions, and new incentives for domestic manufacturing and R&D investment. For businesses, the act provides enhanced Section 179 expensing limits, accelerated depreciation schedules, and targeted deductions for companies that maintain or create U.S.-based jobs. These provisions collectively represent the broadest set of tax reforms since the Tax Cuts and Jobs Act of 2017.
How does the OBBBA impact small business owners and entrepreneurs?
Small business owners stand to benefit significantly from the OBBBA. The act expands the qualified business income (QBI) deduction thresholds, introduces new credits for hiring and workforce development, and simplifies reporting requirements for businesses under certain revenue thresholds. Additionally, entrepreneurs investing in U.S.-based operations can take advantage of enhanced capital expenditure deductions and new tax incentives for green energy and technology investments. Business owners should review their entity structure and compensation strategies to maximize benefits under the new rules.
What steps should taxpayers take now to prepare for OBBBA changes?
Taxpayers should begin by reviewing their current withholding and estimated tax payments, as the new brackets and deductions may change their liability. Individuals earning tips or overtime should understand the new exclusions and ensure proper documentation. Business owners should consult with their CPA to evaluate whether restructuring, accelerating deductions, or adjusting retirement contributions could optimize their position. Most OBBBA provisions take effect for the 2025 tax year, so proactive planning now can yield significant savings when filing next year.
One Big Beautiful Bill Act – U.S. Tax Reform
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