| As your trusted advisors, we’re committed to keeping you informed about the legislative and financial developments that may impact your business or personal financial strategy. We’re writing today with an important update on the H.R. 1 or the “One Big Beautiful Bill Act” recently passed in the House of Representatives—a sweeping piece of legislation designed to simplify tax compliance, incentivize business growth, and provide expanded credits and deductions for individuals and businesses alike. Many items in the bill were originally introduced with Tax Cuts and Jobs Act in 2017 and were set to expire at the end of 2025 and now extended or made permanent. Below is a quick breakdown with some of the major provisions in the bill and how it could affect you and your business: |
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| What This Means for You Every taxpayer and business are unique, and the opportunities within this bill vary based on your structure, income, and financial goals. Our team is already diving deep into the specifics to ensure our clients can take full advantage of these changes. We encourage you to schedule a mid-year strategy session with your HD advisor to discuss: – How to adjust your 2025 tax plan – Opportunities for new deductions or credits – What compliance changes to prepare for now We’ll continue to monitor as the bill goes on to the Senate for Congressional approval and guidance from the IRS to provide updates as regulations are finalized. In the meantime, if you have questions or want to explore how the One Big Beautiful Bill Act may affect your financial outlook, we’re just a call or click away. |
