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How Trump’s Tax and Spending Bill Affects Clients, Small Businesses
Expert Opinion July 09, 2025 at 04:04 PM
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What You Need To Know
- The OBBBA makes the qualified business income deduction and 100% bonus depreciation permanent.
- The law essentially increases the amount of interest expense that businesses can deduct.
- The law also created a charitable deduction for taxpayers who do not itemize of up to $1,000 ($2,000 for joint returns).
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