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

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.

In-person and live webcast CPE credit: up to 2.0
On-demand / self-study CPE credit: 2.0

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

Taxes

Prerequisites

Basic understanding of federal business tax law

CPE Credits

2.0

Level

Update

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