Massive tax changes just dropped—and they could cost (or save) you and your business thousands. Our OBBBA desktop Biz Grid cuts through the One Big Beautiful Bill Act chaos with bold, clear business takeaways you can act on fast.

The One Big Beautiful Bill Act (OBBBA) made significant changes to your 2025 taxes (that’s this year’s taxes)—are you ready? Our five-page OBBBA Individual Grid breaks down what’s new, what’s gone, and what you can claim. Grab it now and get a handle on your 2025 and later taxes.

The One Big Beautiful Bill Act reinstates 100 percent bonus depreciation giving you favorable rules for converting your personal vehicle and other assets to business use. On the conversion, you can immediately qualify to deduct up to 100 percent of today’s fair market value on your existing personal vehicle (if it qualifies).

If you or you and your spouse own your business and you have children, you need to consider the financial benefits of hiring those children to work in your business. Some businesses benefit more than others, but almost all businesses likely come out ahead with this strategy. And every business needs to thank tax reform for the new increased standard deduction that a business owner’s child can use to pay zero in taxes.

Are you turning 65 by the end of 2025? The OBBBA could unlock up to $6,000 in bonus tax deductions—$12,000 for couples! Learn how to qualify and boost your savings with smart income planning.

Frustrated by the $10,000 SALT cap? The One Big Beautiful Bill Act raises it to $40,000—but only for a few years and with income-based phase-outs. Learn how to maximize your deduction, leverage state workarounds, and combine benefits for tax savings.

Thinking of donating to charity? The One Big Beautiful Bill Act brings sweeping changes—some that empower non-itemizers with new deductions, and others that raise costly hurdles for itemizers and corporations. Discover how these shifts could reshape your giving strategy—and why 2025 might be the smartest year to give.

The One Big Beautiful Bill Act makes major changes to the filing requirements for IRS Form 1099-K and 1099-NEC. The threshold for 1099-NEC filing will be increased to $2,000 for 2026 and later. The threshold for filing Form 1099-K retroactively reverts to the rules in place before 2022—$20,000 in annual payments or 200 transactions.

The TCJA reduced the odds of owing the AMT. The One Big Beautiful Bill Act changes that, starting in 2026. It lowers phase-out thresholds and doubles the phase-out rate, increasing AMT risk—especially for those with high capital gains or who exercise ISOs.

Wishing you could deduct more of your mortgage interest? The OBBBA keeps the cap tight—but adds a potential break for mortgage insurance premiums starting in 2026. Learn who qualifies and what’s phased out.

The One Big Beautiful Bill Act locks in and boosts the standard deductions originally set by the 2017 TCJA, offering larger tax breaks starting in 2025. Single filers, married couples, and heads of household will all see increases, with annual inflation adjustments beginning in 2026. Additional deductions for seniors and the blind remain intact.