Tax Bill Is Law: Turning CHanges Into Opportunities

The Bill Is Law. Time For Action.

The ink is dry, the fireworks have faded, and now the real work begins. After all the drama in the Senate and House, the One Big Beautiful Bill Act is officially law - and my inbox is overflowing with one question: "What do I actually do about this?"

Implementation Timeline: What Happens When

You've seen the headlines about what passed. Now let's talk about what to do and when.

ACTION ITEMS:

• Review entity structure with the permanent QBI deduction in mind
• Revisit equipment purchase timelines with January 19, 2025 deadline in view
• Adjust withholding for new permanent tax rates
• Document and segregate domestic vs. foreign R&D activities to prepare for new immediate expensing treatment effective for tax years beginning after December 31, 2024
• Reconsider leverage with EBITDA-based interest limitations
• Update succession planning with the new $15M estate exemption
• Develop multi-year SALT planning strategy before the 2030 cliff

Worried your CPA isn’t implementing the right strategies? The new tax landscape creates too many opportunities to miss, reach out here to work with me directly.

All the best,

Mitchell Baldridge, CPA, CFP®

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P.S. The tax decisions you make in the next 6-12 months will echo through your financial statements for years to come. From QBI structuring to equipment purchasing, R&D segregation to SALT planning—this isn't about checking boxes, it's about creating a coordinated strategy that leverages every new provision in your favor.

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