The One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, marks the most sweeping changes to federal tax policy since the 2017 Tax Cuts and Jobs Act (TCJA). A central provision of the OBBBA makes permanent the individual tax cuts originally enacted under the TCJA, preventing a potential tax increase for an| THInc
A recent Bloomberg analysis of the comprehensive tax legislation enacted by President Trump reveals a fundamental shift in how Americans will be taxed: Tax liability will increasingly depend not on income levels, But on the source of earnings, Geographic location, And personal circumstances This new Republican legislation marks a significant departure from the traditional conservative| THInc
The recently signed "Big Beautiful Bill" Act fully preserves the Pass-Through Entity Tax (PTET) deduction. This deduction, often referred to as the small business deduction (Section 199A), enables eligible taxpayers to deduct up to 20% of their qualified business income (QBI) from their federal income tax liability. Legislative uncertainty surrounding the Pass-Through Entity Tax (PTET)| THInc
