In his latest piece in Forbes, Dave McGuire explores why 2025 will be a pivotal tax planning year. Learn how changes under the OBBBA impact bonus depreciation, Section 174 expensing, and strategic deduction timing for businesses.
As the federal tax landscape continues to shift under the One Big Beautiful Bill Act and its ripple effects, CPAs face a critical moment: how to balance proactive planning with compliance while strengthening their advisory role.
Michigan has decoupled from Section 174A. Learn how new rules require research costs to be amortized and what this means for CPA tax compliance.
Discover how IRS Rev. Proc. 2025-28 impacts Section 174 expensing, 280C elections, and accelerated deductions — key strategies for CPAs and taxpayers.
On October 1, 2025, the IRS announced an extension for certain R&D Tax Credit reporting requirements, giving taxpayers more time to adapt to the revised Form 6765.
Host Dave McGuire sits down with R&D experts David Seibel, EA, and Garrett Duffy to unpack two major developments reshaping R&D credit planning and compliance.
Revenue Procedure 2025-28 provides long-awaited clarity for small businesses on the retroactive Section 174A election, allowing them to deduct 2024 R&E costs on their originally filed return while still amending 2022 and 2023. This guidance simplifies compliance, reduces administrative burden, and gives taxpayers greater certainty in planning for R&D expensing.
“Big Beautiful Bill” aims to reinstate the full expensing of IRC §174 expenditures beginning in 2025. This creates a unique planning opportunity for taxpayers who did not claim the R&D Tax Credit or properly amortize §174 costs during the 2022-2024 tax years.
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.
Discover how the “One Big Beautiful Bill” provides businesses and CPAs a second chance to claim missed R&D tax credits. Learn about retroactive relief for tax years 2022-2024, the restoration of immediate expensing under Section 174, and how to maximize tax savings for innovation-focused companies.
Why The 2025 Tax Planning Season Could Be The Most Important In Years
In his latest piece in Forbes, Dave McGuire offers critical insights into why the 2025 tax planning season stands to be one of the most consequential in years. With sweeping changes under the One Big Beautiful Bill Act, including the return of 100% bonus depreciation, full expensing for Section 174 costs, and new opportunities to optimize deductions, CPAs face a pivotal moment to guide clients through complex planning decisions.
Dave breaks down how shifting incentives, transitional rules, and strategic timing can significantly affect tax outcomes for businesses in 2025 and 2026. His analysis underscores the importance of proactive planning to help clients capture available benefits and avoid leaving value on the table.
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.