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Takeaways from the "Big Beautiful Bill"

The recently enacted “Big Beautiful Bill” introduces sweeping tax code changes that have immediate implications for CPA firms and their clients. With critical updates to Section 174 expensing, bonus depreciation, and Section 179, this legislation presents both challenges and opportunities across a wide range of industries.

Resources

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Downloadable

Maximizing Tax Opportunities under the "Big Beautiful Bill"

Download our comprehensive guide to explore key legislative changes, technical insights, and real-world planning considerations that can help you better advise your clients in 2025 and beyond.

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Podcast

Let's Talk Tax Episode: Breaking Down the Bill

On Let’s Talk Tax, host Dave McGuire and guest Jerry Hammel, CPA, break down the newly signed “Big Beautiful Bill”—including the return of 100% bonus depreciation and critical updates to Section 174—and what CPAs should do now to prepare their clients.

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Webinar

R&D Tax Credits: What the New Law Means for Credit Claims, Compliance & Strategy

The enactment of the “Big Beautiful Bill” brings long-awaited clarity to Section 174, but also ushers in a new era of complexity for R&D tax planning. While the federal R&D credit remains a valuable tool, heightened IRS scrutiny—paired with finalized changes to Form 6765 and the addition of Section G—demands a more strategic, well-documented approach.

In this on-demand session, McGuire Sponsel’s Tanner Niehaus, CPA, and Jerry Hammel, CPA, explore what the new federal law means for credit claims and how to stay ahead of the shifting state and federal compliance environment.

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Blog

'Big Beautiful Bill' Tax Legislation Brings Immediate Planning Opportunities

Just days after the latest tax legislation—informally dubbed the “Big Beautiful Bill”—was signed into law, significant planning opportunities are already emerging. With provisions impacting bonus depreciation, Section 179 expensing, and the long-awaited fix to Section 174, CPA firms should begin evaluating client strategies now to ensure compliance and maximize benefit.

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Facing the "Big Beautiful Bill"? We’re Here to Help You Navigate It with Confidence.

Across the country, CPA firms are turning to McGuire Sponsel to decode what this legislation means for their clients—modeling tax impacts, identifying R&D credit opportunities, and building implementation strategies that make sense in the real world.

Whether you’re seeking clarity on compliance, evaluating how your clients are positioned, or looking for tailored planning insights—our team is ready to support you.

Complete the form below, and let’s start a conversation that ensures your clients make the most of this new legislation.

Let’s Talk Tax Episodes on the “Big Beautiful Bill”

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Blogs & Articles on the “Big Beautiful Bill”

What’s Inside the "Big Beautiful Bill"

Permanent Bonus Depreciation
Understand the impact of the bill’s permanent extension of 100% bonus depreciation and how binding contract dates and placed-in-service rules affect eligibility—particularly for constructed assets and multi-year capital projects.

Section 174 Expensing Reinstated
Review the restoration of full expensing for research and experimentation (R&E) costs starting in 2025, as well as retroactive amortization recovery strategies for tax years 2022–2024. Key considerations include accounting method changes (Form 3115) and planning timelines for both large and small taxpayers.

Expanded Section 179 Limits
Explore increased Section 179 deduction thresholds and phaseouts, along with guidance on when 179 may be preferable to bonus depreciation—particularly in states that do not conform to federal bonus rules.

Coordination with Section 41 R&D Credit
Many firms that opted not to claim the R&D credit in recent years due to Section 174 uncertainty now face an opportunity to amend returns and claim previously unrecognized credits. We walk through the decision-making process for evaluating compliance risk, benefit potential, and timing.

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