In his latest piece in Forbes, Dave McGuire explores how the “Big Beautiful Bill” impacts CPAs and their clients, with updates to bonus depreciation, Section 179, and R&D expensing strategies.
As the industry adapts to sweeping changes under the “Big Beautiful Bill,” we’re here to help you stay informed and prepared.
With the “Big Beautiful Bill” now enacted into law, sweeping tax changes are officially underway—impacting provisions critical to year-end planning, entity strategy, and client advisory services. CPAs and tax professionals must act quickly to understand how these updates affect their clients across industries.
Host TJ Sponsel is joined by Keith Habel, CPA/PFS, a shareholder at Honkamp, to discuss how manufacturing firms can navigate tax strategies in 2025.
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.
Host Dave McGuire and 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.
Explore the Senate’s proposed fixes to Section 174, permanent bonus depreciation, and what these changes could mean for tax planning in 2025 and beyond.
McGuire Sponsel proudly announces it has been recognized with two prestigious honors from the Association for Accounting Marketing (AAM).
On May 22, the U.S. House of Representatives passed a wide-reaching bill titled the “One Big, Beautiful Bill Act” featuring broad tax reform.
Congress is advancing a sweeping tax bill that could restore full expensing for R&D under Section 174, reinstate 100% bonus depreciation, and make other long-awaited business tax changes—though its passage remains uncertain.
After Recent Tax Updates, This Is What Business Owners Should Be Thinking About
In his latest piece in Forbes, Dave McGuire examines how the “Big Beautiful Bill” shapes tax planning for both CPAs and business owners. While the headlines focused on individual breaks, the biggest changes impact businesses through bonus depreciation, Section 179 expensing, and R&D expensing.
For CPAs, these updates provide an opportunity to guide clients through contract timing rules, expanded deductions, and retroactive R&D opportunities. For business owners, the changes open a window to revisit past investments, reclaim missed deductions, and optimize future tax strategies.
The bill creates both opportunities and deadlines, making proactive planning essential.
David McGuire is a leading expert on cost segregation, fixed assets and depreciation law and a co-founder of McGuire Sponsel. McGuire continues to grow McGuire Sponsel’s national presence in cost segregation and depreciation.
He is the primary resource for alliance firms in regards to how tax law affects depreciation. His knowledge in determining asset costs and classifications has held up against IRS scrutiny and has built the firm into a trusted industry resource.