By Sage Friedman and Ryan Morse
On July 4, President Donald Trump signed into law the nearly 900-page “One Big Beautiful Bill Act.” The act includes a wide range of provisions that impact every type of taxpayer. For commercial entities, though, the most widely applicable items are those touching on depreciation and deduction rules for businesses or business owners. While the Act helped to clarify the permanence of many provisions of the 2017 Tax Cuts and Jobs Act, businesses, business owners and their tax advisors should still closely monitor the act’s effect on the bottom line…
