The House passed the tax bill. It contains some good news for small businesses, such as a hike in the rate for the qualified business income (QBI) deduction, 100% bonus depreciation, and expensing of R&D costs. There’s a long way to go until anything is finalized. The Senate could make changes. The target date for enactment: July 4, 2025. Let’s see what happens. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
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ICYMI: What's in the "One Big, Beautiful Bill" for Small Business? Barbara Weltman @BigIdeas4SB digs into the House-passed bill and reviews key tax-related provisions. The Senate is now acting on the bill, which will likely include some changes. More: