What the One Big Beautiful Bill Means for Business Taxes and How Steve Perry, EA Can Help

New Tax Rules for Businesses under the One Big Beautiful Bill

The One Big Beautiful Bill signed into law by President Trump on July 4, 2025, contains substantial changes to the federal tax code that directly impact small businesses, corporations, and pass-through entities. Designed to extend and expand many provisions of the 2017 Tax Cuts and Jobs Act, the bill offers new opportunities for tax savings along with important compliance responsibilities.

One of the most significant provisions is the increase in the pass-through business income deduction. Business owners operating as sole proprietors, partnerships, or S corporations can now claim a 23 percent deduction on qualified business income. This temporary boost from the previous 20 percent rate is set to last through 2028 and can result in meaningful tax savings for small business owners across the country.

The bill also restores full expensing of research and development costs. Businesses investing in innovation can immediately deduct qualifying expenses rather than amortizing them over several years. This change supports startups and growth-focused enterprises, allowing them to reinvest more quickly into their operations.

For companies investing in equipment, machinery, or qualified production property, a new bonus depreciation provision allows for more immediate write-offs. This update encourages capital investment and modernization without the long wait associated with traditional depreciation schedules.

Changes were also made to international tax provisions, including adjustments to the Global Intangible Low-Taxed Income and Base Erosion and Anti-Abuse Tax rules. These updates are designed to simplify reporting and reduce burdens for businesses with global operations, though the complexity of compliance remains high.

How Steve Perry, EA Can Help Your Business Adapt

Navigating the tax changes introduced by the One Big Beautiful Bill requires experience, insight, and personalized strategy. Steve Perry, EA at Books, Taxes and More offers expert tax services to help business owners take full advantage of the law’s benefits while remaining compliant with the IRS.

Steve begins by reviewing each client’s business structure, income sources, and current tax strategies. He identifies how the new provisions apply and creates customized plans to minimize tax liability. Whether your business needs help claiming the expanded pass-through deduction, maximizing R and D expensing, or planning for future depreciation, Steve has the experience to guide you with confidence.

As a federally licensed Enrolled Agent, Steve represents businesses in 49 states and is authorized to handle any IRS correspondence, audits, or appeals. His proactive approach ensures that clients are not just reacting to changes but using them to gain a strategic advantage.

Get Expert Help Today

Business tax laws are evolving rapidly. Let Steve Perry, EA help your business stay ahead of the curve and compliant under the new law. Contact Books Taxes and More for a consultation and build a tax strategy that supports your success.

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