Your business could be sitting on a massive, time-sensitive tax windfall.

If you developed new products, improved manufacturing processes, wrote custom software, or ran experiments to advance your business in 2022, 2023, 2024, or 2025, Washington just handed you a serious gift.

The One Big Beautiful Bill Act (OBBBA)1 blew up the old restrictions on research deductions, and the IRS released the road map you now need to navigate the new rules.2

Here’s what that means for you: depending on your business size, you can now deduct your unamortized research and experimentation (R&E). And in the right circumstances, it’s possible for defined small businesses to redo immediate expensing retroactively for tax years 2022, 2023, and 2024.

But the small business may have to move fast. Your small business window to claim one valuable piece of this overhaul slams shut on July 6, 2026—or perhaps it has already been slammed shut. |... Log in to view full article.