021 - The One Big Beautiful Bill: What Doctors Need to Know (Part 1-Businesses)
Manage episode 496476163 series 3642813
Fire up the drill and crank up the bonus depreciation, because the One Big Beautiful Bill (a.k.a. OB3) is here, and we’re breaking it down for business owners in scrubs.
In this episode, Travis pulls out two big wins for practice owners:
- Bonus depreciation is back at 100%, and
- The QBI deduction lives on, now permanent.
He also highlights four smaller updates:
- R&D credit timing
- Section 179 bump (mostly irrelevant unless you’re spending millions)
- ERC update (probably safe if you already got your check), and
- 1099 reporting threshold increase (hello, $2,000 minimum!).
While some of it may feel familiar, OB3 solidifies a lot of temporary perks, so knowing your numbers heading into year-end still matters. Bonus depreciation, QBI phaseouts, and salary strategy are all in play.
Next up: what OB3 means for individual taxpayers. But for now, if you’re running a dental practice, this one’s for you.
CONTINUE THE CONVERSATION
Comment in Spotify
ACCESS THE WORKSHEET TO CALCULATE YOUR INCOME
https://uluruadvisors.com/resources/
LET’S CONNECT
Instagram: https://www.instagram.com/travisslade.cpa/
22 episodes