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R&D Tax Deductions Under the One Big Beautiful Bill Act (OB3) - What Business Owners Need to Know

R&D Tax Deductions Under the One Big Beautiful Bill Act (OB3) - What Business Owners Need to Know

BE Informed
• 8 min
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In this episode of BE Informed, I delve into the significant changes brought by the One Big Beautiful Bill Act (OB3), specifically focusing on R&D tax deductions that business owners need to understand. Joined by tax manager Kevin Forget, we explore how the new provisions allow small businesses to immediately expense their R&D costs, reversing previous amortization requirements. We discuss the implications for companies with gross receipts under $31 million and highlight planning strategies, including the option to file superseded tax returns. Don't miss this opportunity to learn how to maximize your deductions and potentially secure refunds for prior years. Tune in for essential insights that could impact your bottom line.