One Big Beautiful Bill Act: Everything You Need to Know
| As your trusted advisors, we’re committed to keeping you informed about the legislative and financial developments that may impact your business or personal financial strategy. We’re writing today with an important update on the H.R. 1 or the “One Big Beautiful Bill Act” recently passed in the House of Representatives—a sweeping piece of legislation designed to simplify tax compliance, incentivize business growth, and provide expanded credits and deductions for individuals and businesses alike. Many items in the bill were originally introduced with Tax Cuts and Jobs Act in 2017 and were set to expire at the end of 2025 and now extended or made permanent. Below is a quick breakdown with some of the major provisions in the bill and how it could affect you and your business: |
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| What This Means for You This bill introduces a number of changes that could impact how your business handles payroll and tax-related compliance. While the full effects will vary depending on your company’s structure and operations, we’re actively reviewing the legislation to understand what it means for our clients. We’ll continue to keep you informed as more details become available and will provide guidance on any necessary updates to your payroll processes or reporting requirements |