Month: July 2025

Depreciation is the tax process of spreading the cost of an asset over the years it is expected to be useful. Bonus depreciation is different: It is a tax incentive that allows businesses to deduct the full cost of certain assets, such as equipment, vehicles or software, in the year of purchase. The One Big […]

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The One Big Beautiful Bill Act became law on July 4, 2025. The new law, which is generally regarded as pro-business, contains significant tax changes for businesses and individual taxpayers alike. Here is a summary of some of the important highlights of the OBBBA. Provisions affecting individuals: The OBBBA added one year of inflation adjustment […]

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