Covenant Tax and Accounting Solutions (CTAS) helps business owners understand which expenses qualify as tax deductions. Properly leveraging these deductions can reduce taxable income, improve cash flow, and strengthen overall financial performance....
On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law. The legislation extends key provisions from the Tax Cuts and Jobs Act, introduces new tax breaks for individuals and businesses, and accelerates the phaseout of certain energy-related credits....
The One Big Beautiful Bill Act (OBBBA) introduces several updates that directly impact 2025 tax planning. Key provisions include the return of R&D expensing, enhanced bonus depreciation for qualifying assets, and expanded clean energy and clean vehicle credits. These changes can influence decisions on equipment purchases, technology investments, and timing of expenses before December 31. ...