The One Big Beautiful Bill Act (OBBBA) delivers sweeping reforms that directly affect business tax planning and compliance beginning in 2025. This course explores the permanent extension of 100% bonus depreciation, the increased Section 179 expensing limits, and special depreciation allowances for qualified production property. Participants will gain insight into enhanced employer-provided childcare credits, permanent Opportunity Zones, expanded Qualified Small Business Stock exclusions, and critical changes to 1099 reporting thresholds. The course also reviews the termination of key clean energy credits and modifications to manufacturing incentives, equipping professionals with practical strategies to apply these updates in real-world client and business scenarios.
This one-hour course counts for 1 hour of IRS CE under the category of Federal Tax Law Related Matters.
Learning Objectives
By the end of this course, learners will be able to:
- Identify OBBBA provisions impacting depreciation, Section 179 expensing, and Qualified Production Property.
- Apply new rules for employer childcare credits, Opportunity Zones, and QSBS gain exclusions.
- Evaluate reporting changes for 1099 forms and the impact of repealed or restricted clean energy credits.
About the Presenter:
Dr. Bart A. Basi, the Senior Advisor at The Center for Financial, Legal & Tax Planning P.C., is a distinguished attorney and CPA, who also holds a Doctorate in Economics. As a Tax Course Instructor for the Internal Revenue Service’s Annual Filing Season Program, he educates tax preparers nationwide. Licensed in Illinois and New York, and admitted to the United States Supreme Court, Dr. Basi imparts expertise to CPAs and attorneys on financial, legal, and tax matters. Renowned as a sought-after speaker, he addresses audiences on topics including taxes, mergers, acquisitions, succession planning, and valuations for private companies. Additionally, Dr. Basi serves as a trusted advisor, guiding businesses through the complexities of inflation and economic impacts on strategic decision-making for private companies.
