UNDERSTANDING OBBBA
UNDERSTANDING OBBBA
Brace for (Tax) Impact: The One Big Beautiful Bill Act
As many of you know, a substantial bill called the One Big Beautiful Bill Act (OBBBA) was signed into law on July 4, 2025. With it comes a series of tax changes that could immediately impact you and your tax planning strategy. With such a large piece of legislature, it’s important to us that our clients and taxpayers have a clear understanding of actions they can take to stay ahead of the curve. Below we’ve worked with our Chief Tax Officer, Frank D’Urban Jackson, to curate articles and videos that touch on questions you might have about the tax and accounting impact of the One Big Beautiful Bill Act.
What Is The One Big Beautiful Bill Act (OBBBA)?
OBBBA is a wide-reaching budget reconciliation bill that impacts nearly every aspect of federal tax policy from individual income treatment and deduction thresholds to business rules and the status of long-standing credits. It is the most significant tax overhaul since 2017. While many of these updates made permanent (with some modifications) the provisions of the 2017 Tax Cuts and Jobs Act that were due to expire at the end of 2025, others sunset existing provisions or introduce entirely new, and in some cases temporary, measures that will shape how individuals and businesses approach their taxes in the years ahead.
Does the OBBBA Impact Me?
This is the main question on everyone’s mind, and with so much information to cover, we’ve broken down the bill into bite sized, actionable information. Below you’ll find articles that cover standard deduction and itemizing with provisions introduced in this bill, the sunset of energy tax credits and how to take advantage before they expire, the impacts to businesses and their structures, and more. This is a living, non-exhaustive library- not a comprehensive list. It will be updated regularly as additional guidance or further information becomes available.
Meet Our Expert:
Tax And Accounting Impacts for Individuals and Businesses
Articles
Understand the various changes that impact individuals and their tax planning strategies. Learn more about hot button topics like the no tax on tip and overtime provisions, SALT cap, and new or sunsetting tax credits. You can also subscribe to our monthly newsletter to stay up to date on our newest industry updates.
Articles
Be proactive with your business strategy by understanding the tax and accounting implications under OBBBA. You can also subscribe to our monthly newsletter to stay up to date on our newest industry updates.
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Understanding OBBBA Podcast
Listen to speaker Frank D’Urban Jackson, CPA and Chief Tax officer at CKH Group as he breaks down the various aspects of this new bill and how to best prepare for the tax an accounting impact on individuals and businesses alike.
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