Main Street Business #587 Trump Signs The Big Beautiful Bill: What This Means for Tax Planning
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Jul 15, 2025 Get ready for some tax-savvy insights! Discover how the newly signed Big Beautiful Bill provides tax breaks for small business owners and real estate investors. Learn to leverage 100% bonus depreciation and understand the permanent QBI deduction. Dive into the advantages of Opportunity Zones for tax-free investing. Plus, decode the new $40K SALT cap and find effective workarounds. This podcast is packed with actionable strategies to help entrepreneurs and investors navigate the changing tax landscape!
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Maximize Bonus Depreciation Benefits
- Use 100% bonus depreciation on business assets to accelerate deductions and improve cash flow.
- Strategize between bonus depreciation and Section 179 to optimize tax benefits annually.
Vehicle Bonus Depreciation Strategy
- Buying a vehicle in December and using it 100% for business maximizes bonus depreciation.
- You can then reduce business use in following years without recapturing depreciation if usage stays above 50%.
Leverage Permanent QBI Deduction
- The 20% Qualified Business Income deduction (QBI) is now permanent, helping small business owners reduce taxable income.
- Work with your accountant to optimize salary and retirement contributions for maximum QBI benefit.