One Big Beautiful Bill Act: Three Takeaways for Business and Individual Taxpayers

A recent Sikich webinar surveyed over 500 taxpayers and business owners who revealed which tax provisions from the OBBBA are resonating most, and what that means for businesses and individuals navigating the evolving tax landscape. 

Tax experts have closely monitored the implications of the One Big Beautiful Bill Act (OBBBA) since its passing on July 4, 2025. As part of the budget reconciliation process for this fiscal year, the act introduces significant changes to the 2017 Tax Cuts and Jobs Act. As tax experts begin to work with its new parameters, they now have the challenge of quickly educating themselves to advise their clients to make the best decisions and plans for their futures.  

Responses to the survey overall revealed an immediate opportunity: the business and individual taxpayer landscape needs to actively adapt to new tax opportunities versus reacting in the months ahead. From balancing investment growth with workforce needs and estate planning concerns, proactive planning will help businesses and individuals stay par for the course amidst looming political dynamics and potential tax changes after the next political cycle.  

Let’s break down the three main takeaways that can help inform a future tax strategy. 

Individual taxpayers focus on state and local tax (SALT) deduction & estate planning  

• 67.6% of survey respondents ranked the increase of the SALT deduction limit to $40,000 as their top personal tax benefit, though experts caution about phaseouts that may limit the actual impact for some taxpayers.  

• The permanent higher estate and gift tax exemption was the second most cited (21.2%), highlighting a significant concern for those in higher estate valuation brackets about potential future legislative changes.  

• A new, lesser-known Trump Savings Account for children attracted 11.1% of responses, indicating early curiosity but a need for more guidance as taxpayers digest this new option.  

The interest in estate exemption changes reflects ongoing uncertainty in tax policy. With this and other net new changes, education on tax opportunities becomes incredibly important to both businesses and individuals, as well as tax experts.  

Business owners rally around bonus depreciation & capital investment  

• Among business provisions, 67.1% said 100% bonus depreciation benefits them the most, pointing to strong expected increases in investment in capital assets and equipment, fulfilling the law’s goal of encouraging business growth.  

• The improved deductibility of business interest expense (19.2%) and current expensing of research costs (13.7%) ranked lower, reflecting the reality that research and development (R&D) investment tends to be less sensitive to tax changes.  

Given inflation and supply chain pressures dominate the news cycle on any given day, the overwhelming focus on bonus depreciation is spot-on. The business landscape in 2025 has driven companies to invest in capital assets in order to stay competitive, and this trend could impact future plans.  

New business provisions show investment and workforce priorities  

• 44.6% of business owners identified the Qualified Production Property provision—which enables 100% write-off of facilities—as most impactful, signaling momentum behind reshoring and production investment.  

• The enhanced Employer-Provided Childcare tax credit was cited by 32.8%, underscoring ongoing workforce support challenges and the importance of childcare benefits to employers.  

• Nearly 23% focused on the enhanced Capital Gains Exclusion for Qualified Small Business Stock, indicating strong interest in evaluating qualification for this tax benefit and assessing Choice of Entity for current and future investments. 

As business owners grapple with employee retention and productivity, it’s no surprise that more eyes are on the childcare credit. While workforce support isn’t always at the center of tax conversations, it will become a priority in planning conversations.  

What’s particularly striking is how some provisions like bonus depreciation and production property write-offs are driving tangible investment decisions, while others, like the enhanced childcare credit, reflect broader societal priorities shaping business strategy. Experts suggest these findings highlight an urgent need for clear, ongoing education and advisory support as taxpayers and business owners navigate complexities like SALT and other phaseouts as well as implementation of new and enhanced deductions and credits. 

As we turn the clock on 2025 and some of these new or enhanced provisions take effect, proactive planning will be key in the months ahead. Contact Sikich or visit https://www.sikich.com/accounting-audit-tax-consulting/tax-services/one-big-beautiful-bill-what-you-need-to-know/  to learn more.   

About Our Authors

Tom Bayer, CPA, CExP, has specialized expertise in the areas of business succession planning, tax planning and compliance, and business advisory. He has deep experience providing a range of accounting, tax, and business advisory services to commercial clients across industries.

Jim Brandenburg, CPA, MST, possesses extensive experience and knowledge in corporate and partnership tax law, mergers and acquisitions, and tax legislation. His expertise includes working with owners of closely held businesses to identify tax planning opportunities and assist them in implementing these strategies.