The 'Big Beautiful Bill' is Here: What Small Businesses Need to Know About the OBBBA
The One Big Beautiful Bill Act (OBBBA), effective in 2025 and 2026, offers significant tax benefits for small businesses, freelancers, and gig workers. It includes increased deductions, permanent 100% bonus depreciation, and a higher SALT cap, enabling better cash flow and immediate deductions for equipment and R&D costs, fostering business growth.