The One Big Beautiful Bill Act (OBBBA): Implications for Tax Professionals Webinar
Overview
The passage of the sprawling One Big Beautiful Bill Act (OBBBA) will have far reaching tax implications for both individuals and businesses. This legislation includes tax provisions, reductions or increases in spending for various federal programs, and otherwise addresses important changes in agencies and programs throughout the federal government. This webinar, lead by our qualified tax expert, will focus on the tax ramifications from the OBBBA and discuss the following:
- Extending key aspects of the Tax Cuts and Jobs Act (TCJA)
- Reinstatement of R&D expensing and 100% bonus depreciation
- Increases to the statutory debt limit and SALT limitations
- The repeal of various clean energy credits
- Modifications to the Section 199A qualified business income tax deduction
This course qualifies for IRS Continuing Education Credit.
Objective
To help tax and other financial professionals prepare for all of the sweeping changes that the One Big Beautiful Bill Act will bring to the business world. Attendees will walk away from this webinar with a firm understanding of the tax aspects of the bill that will enable them to adequately prepare and advise their company and their clients.
Emphasis
- Extension of the TCJA
- Changes to Individual Tax Provisions
– Senior deduction
– Rate modifications
– SALT deduction modification
– Qualified residence interest
– Charitable deductions
– Itemized deductions
– Car loan interest
– Tip income
– Overtime pay
– Alternative minimum tax
– Child tax credit - Estate, Gift & GST Transfer Taxes
- Special Depreciation Allowance for Certain Property
- Changes to Business Deductions
- Deduction of Domestic Research & Experimental Expenditures
- Renewal & Enhancement of Opportunity Zones
- de Minimis Rules for Third Party Network Transactions
- Impact on International Tax Provisions
– Foreign-derived intangible income and global intangible low-taxed income
– Base Erosion (BEAT)
– Modifications to Pro Rata share rules - Energy Tax Credits
– Clean fuel production credit
– Clean electricity production credit
– Advanced manufacturing production and investment
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