Overview

• Treasury and IRS are finalizing OBBBA implementing regulations, including an occupation list for tip-income deductions due by Oct. 2, 2025.
• Employers are overhauling payroll systems to reflect expanded SALT limits, new senior and tip deductions, and a raised Form 1099 reporting threshold.
• Tax advisors are guiding clients on strategic moves such as Roth conversions, accelerated R&E deductions, and timing equipment acquisitions under 100% bonus depreciation.
• QSBS benefits now allow stock held three years to qualify for a 50% exclusion, phase in higher exclusions at years four and five, raise the asset test to $75 million, and boost the cap to $15 million.
• Permanent 100% bonus depreciation and restored EBITDA-based interest deductions apply immediately, and lifetime estate and gift exemptions will rise to $15 million per person in 2026.