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 taxpayers, tax-exempt organizations, and administrative reporting. Practitioners will gain practical insight into how these reforms change longstanding tax planning assumptions and will receive strategies to position clients favorably in the new environment. Major topics include the permanency of IRC §199A, bonus depreciation, expansion of Section 179, modifications to the business interest deduction limitation, and major changes to clean energy credits. Additional sections cover tax-exempt organization excise taxes, charitable giving limits, and new surtaxes on foreign payments.
Course ID: OBBBB
What H.R.1, “OBBBA” (Commonly Known as “The Big Beautiful Bill Act”) Means for You and Your Clients: Business, Tax Credits, Administrative, and Tax-Exempt Organization Issues
Learning Objectives
After completing this course, you will be able to:
- 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
Major Topics
- IRC §199A deduction enhancements
- Permanent 100% bonus depreciation
- Expansion of Section 179 expensing
- Changes to IRC §163(j) interest limitations
- Excess business loss limits and carryforward rules
- IRC §174 R&E expensing choices
- 1099-K and 1099 threshold updates
- Tax-exempt organization changes including excise tax brackets
- Corporate charitable contribution rules
- Clean energy credit terminations
- Opportunity zones and surtax on foreign payments
Who Should Attend
CPAs, EAs, tax professionals
Fields of Study
TaxesPrerequisites
Basic understanding of federal business tax law