Withum

JUNE 24, 2025

The Senate Finance Committee released its markup of the One Big Beautiful Bill last Tuesday, June 17, 2025, with the expectation that the Senate will vote on the bill sometime this week. The excess business loss limitation rule is applicable for effective taxable years beginning after December 31, 2020, and before January 1, 2029.

Tax 72

Tax income tax New York corporation tax 72

Accounting Today

JULY 8, 2025

Read more: " Tax Strategy: Inside the Senate version of the OBBBA. ") "The new law has both temporary changes and permanent changes," said Miklos Ringbauer, founder of Miklos CPA in Southern California. Its a temporary increase, and will continue to increase every year until 2029. All rights reserved.

Technology 126

Technology audit tax preparation corporation tax 126

Withum

MAY 13, 2025

Floor plan financing interest. However, this could be adjusted upon Senate review, as the Senate adjusted a similar provision under the Tax Cuts and Jobs Act, limiting adjusted taxable income to EBIT for certain years. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax 122

Tax income tax Real Estate tax return 122

Withum

MAY 13, 2025

Floor plan financing interest. However, this could be adjusted upon Senate review, as the Senate adjusted a similar provision under the Tax Cuts and Jobs Act, limiting adjusted taxable income to EBIT for certain years. Contact Us For more information on this topic, please contact a member of Withum’s Business Tax Services Team.

Tax 96

Tax income tax Real Estate tax return 96