The One Big Beautiful Bill Act (OBBBA) has introduced several changes that will directly impact both 2025 and 2026 tax returns. In this practical 2-hour session, Doug Stives, CPA, will break down key provisions of the 2025 Tax Bill and explain how they affect common client scenarios. The discussion focuses on real-world applications, highlighting areas that may increase complexity, revive long-standing challenges, or create new opportunities for deductions and tax savings.
Topics include the expanded SALT deduction, changes to charitable contribution rules, the new $6,000 senior deduction (and who qualifies), expanded depreciation and expensing options under IRC §§168 and 179, and the return of AMT exposure for more taxpayers. The session also covers newer developments such as Trump Accounts, deductions for tips and overtime pay, shifting energy credit rules, and strategies for addressing business losses.
This course counts for 2 Hours of Federal Tax Law for IRS Continuing Education.
This webinar is ideal for professionals looking to stay current, work more efficiently, and approach the upcoming filing seasons with greater confidence and clarity.
Learning Objectives
After attending this webinar, participants will be able to:
- Identify major OBBBA provisions affecting 2025 and 2026 tax returns, including SALT, AMT, and senior deductions
- Explain recent changes to charitable contribution rules and how they impact client planning
- Apply updated IRC §168 and §179 depreciation rules, including incentives for Qualified Production Property
- Recognize how new deductions for tips and overtime pay affect individual and business returns
- Evaluate the status of current energy credits and understand how to address business losses under the new framework
This course counts for 2 Hours of Federal Tax Law for IRS Continuing Education.
About the Presenter:
Doug Stives is considered a worldwide leader in public and management accounting by AICPA & CIMA. He is a CPA, MBA, and recently retired professor of Accounting at Monmouth University and a professional speaker at many organizations and conferences. Doug was honored as Monmouth's Outstanding Business Professor of the Year in 2009, 2016, and 2024 and was awarded an Outstanding Educator award in 2021 by the New Jersey Society of CPAs. Frequent media exposure includes The Wall Street Journal and other national publications and television, including CNN, CNBC, PBS, NBC, Fox, CBS, ABC, and several cable networks. Doug was once dubbed as the "Most Tax Efficient Man in America" by the Wall Street Journal.
