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One, Big, Beautiful Bill – What Business Owners Should Know About the Latest Proposals

RogerRossmeisl

Proposed change: The bill would restore 100% bonus depreciation retroactively for property acquired after January 19, 2025, and extend it through 2029. (In 2026, this will drop to 20%, eventually phasing out entirely by 2027.) This would be a major win for.

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2025 Tax Reform Highlights – What you need to know about the “One Big Beautiful Bill Act”

CapataCPA

SALT Deduction Cap Temporarily Increased From 2025 to 2029, the state and local tax deduction cap rises to $40,000, with slight annual increases. Clean Fuel Credits Extended Through 2029 While extended, these credits now come with new requirements around emissions, feedstock sources, and credit caps.

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Q-commerce and sales tax: the latest

TaxConnex

The future is q-bright Despite relatively high costs of micro-warehouses and rapid-delivery fleets, limited micro-warehoused inventory and complex delivery, global q-commerce is expected to grow from some $195 billion this year to $266 billion by 2029 and encompass almost 887 million users, according to Statista.

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Congress Passes One Big Beautiful Bill – President to Sign on July 4

Withum

Amounts continued to be adjusted until the the state and local tax cap will revert to $10,000 in the 2029 taxable year. Itemized Deduction Limitation Repeals the PEASE limitation and applies an additional limitation on all itemized deductions for taxpayers who are in the 37% tax bracket.

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Proposed Tax Bill Reinstates Immediate Expensing for Domestic R&E Expenditures Under Section 174

Withum

This change is temporary, applying only through December 31, 2029, creating a five-year window for immediate expensing (2025-2029 tax years). Foreign R&E expenses will continue to be amortized over 15 years as currently required under TCJA rules.

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Erica Williams Bids Adieu to the PCAOB

Going Concern

Williams, who just got appointed to a second five-year term last year and was supposed to keep the PCAOB’s big seat warm until October 2029 , will be leaving the PCAOB on July 22. Announced yesterday , PCAOB Chair Erica Y.

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The indirect tax professional’s field guide to Brazil tax reform preparation

ThomsonReuters

Transition milestones: 2026 (reform begins), 2029-2033 ( gradual ICMS/ISS phase out ), 2033 (full implementation). Watch for its impact on your product lines. IBS Management Committee: The new command center for subnational VAT administration. Avoid common pitfalls Don’t delay system upgrades. Study the terrain.

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