New Tax Law, Big Opportunities

The One Big Beautiful Bill is set up to deliver major tax benefits for business owners, startups, and investors. This legislation is poised to reshape how businesses invest, grow, and pass wealth on to future generations.

 Top Tax Benefits for Businesses

Business owners stand to gain significantly under the new tax law, with enhanced deductions and expanded limits that support investment, innovation, and accelerated growth.

· 100% Bonus Depreciation is now permanent, allowing businesses to deduct the full cost of qualifying assets—like machinery or vehicles—in the year they’re purchased. For example, a $100,000 piece of equipment can now be fully deducted upfront rather than over 5–10 years.

· The Section 179 Expensing Limit has increased to $2.5 million, with a phase-out starting at $3.5 million in total purchases. This helps businesses write off more equipment and software purchases immediately.

R&D Expenses can now be fully deducted in the year incurred, offering huge benefits for innovation-focused companies and startups.

 Incentives for Growth and Community Investment

The bill also reinforces long-term growth and wealth transfer by making key investment incentives permanent and expanding estate planning opportunities for business owners and investors.

· New Markets Tax Credits (also known as Opportunity Zones) are now permanent, offering powerful tax incentives for investing in low-income or underserved  areas—whether through real estate or new businesses.

The Estate and Gift Tax Exemption has doubled to $15 million per person, up from $7.5 million. This allows owners to transfer significantly more wealth to heirs or through gifts without facing estate taxes.

The Bill presents several positive impacts on government spending by incorporating nearly $1.1 trillion in targeted spending reductions over a decade, promoting fiscal responsibility. It also enhances efficiency through tax code simplification, potentially lowering administrative and compliance costs. Additionally, by incentivizing private-sector investment over direct public subsidies, the bill encourages a more market-driven approach to economic growth. These benefits may be tempered by concerns over rising deficits and long-term debt, highlighting the importance of balancing tax relief with sustainable fiscal policy.

In light of these new provisions, business owners should act strategically to maximize their benefits. Now is the time to assess capital equipment needs for 2025 and  beyond, revisit succession and estate planning strategies, and explore potential investments in Opportunity Zones or research and development projects. Most importantly, meeting with a trusted tax advisor will ensure your plans align with the updated tax rules and position your business for long-term growth.