"One Big Beautiful Bill" & R&D Tax Credits: What CPAs Need to Know

Host TJ Sponsel is joined by David Seibel, EA, a shareholder in the R&D Tax Credit practice, to discuss the impactful One Big, Beautiful Bill and its implications on the R&D Tax Credit.

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.

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.

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.

Host ⁠Jerry Hammel, CPA,⁠ sits down with ⁠David Seibel, EA⁠, to unpack the new reporting requirements for ⁠Form 6765⁠, with a deep dive into the implications of Section G.

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.

On June 1, Texas Governor Greg Abbott signed Senate Bill 2206, which extends the Texas R&D Credit that was set to expire on December 31, 2026. This extension provides welcome relief and additional certainty for taxpayers who conduct qualified research in Texas.

Guest host ⁠Jerry Hammel, CPA,⁠ sits down with ⁠David Seibel, EA,⁠ to discuss the ⁠“One Big Beautiful Bill”⁠—a sweeping piece of legislation that has passed the House but still awaits action in the Senate.

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.