What is the One Big Beautiful Bill Act Means for Your Business
After months of debate, President Trump and Congressional GOP leaders signed the One Big Beautiful Bill Act (OBBBA) into law on July 4, 2025. This sweeping tax-and-spending package is designed to reshape the economic landscape—and it has big implications for small and mid-sized businesses.
Who Benefits the Most?
Here’s where OBBBA’s provisions are expected to have the greatest impact
Employer Provided Meals Deduction Ends
- Manufacturing, Industrial, & Production – Benefit from faster depreciation timelines and higher caps, making reinvestment in equipment more attractive.
- Honorable mentions: OBBBA will cut significant deductions that could previously be counted on- notably Clean Energy Credits. EV credits, Residential energy, and Commercial energy deductions will no longer exist for tax purposes.
- Tech, Software, Engineering, & R&D – Gain from full expensing of domestic research and deductions for unamortized expenses from 2022–2024.
Domestic Research Expensing
- Real Estate, Construction, & Property Development – Bonus depreciation and more favorable interest deduction rules provide relief for firms carrying debt.
- Hospitality, Restaurants, Food Service, & Retail – Employees benefit from a new “no tax on tips” allowance, exempting up to $25,000 per year.
Pass-Through Business Deduction Made Permanent
The Bottom Line
The One Big Beautiful Bill Act is, as the name suggests, big. While it comes with a mix of wins and trade-offs, the overall direction is clear: there are new opportunities to lower taxable income, reinvest in your business, and plan strategically for growth.
At GD Financial Services, we’re here to help you identify which provisions apply to your business and how to make the most of them as you plan for the 2025 tax season and beyond.
