Monthly Archives: August 2025

Key Tax Provisions Affecting Businesses Qualified Business Income Deduction. OBBBA permanently extends the qualified business income deduction (QBI) under Code Sec. 199A at the current 20 percent rate and increases the deduction limit phase-in range from $50,000 to$75,000 for non-joint … Continued

President Trump signed the One Big, Beautiful Bill Act (OBBBA), a reconcilation bill that passed the Senate on July 1 by a vote of 51-50 and passed the House on July 3 by a vote of 218-214. In addition to … Continued