One Big Beautiful Bill - Updates for Personal or Small Business Taxpayers
Author: Lippes Mathias, Robert B Rowe
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC |
This course provides accountants and enrolled agents with a high-level, practitioner-focused overview of the One Big Beautiful Bill (OBBA ACT) - and the sweeping changes it introduces for individual and small business taxpayers. Participants will explore key provisions such as new or expanded deductions (including auto loan interest, senior-focused benefits, SALT and passthrough entity tax rules, and charitable contributions), income exclusions like no tax on tips and overtime, and important updates to HSAs, credits, and new account structures (e.g., the Trump Account).
The course will also highlight business-critical changes to bonus depreciation, the qualified business income deduction, and other planning opportunities affecting closely held businesses. Designed to be both accessible and forward-looking, this session equips practitioners with the context they need to identify planning opportunities, spot client risks, and confidently navigate ongoing guidance and implementation issues.
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2029 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN cardPublication Date: March 2026
Topics Covered
- Individual Tax Changes
- Small Business Tax Changes
- New Deductions and Exclusions
- Credits & Capital Recovery
- New and evolving administrative guidance
Learning Objectives
- Identify the major individual and small business tax provisions introduced or modified by the One Big Beautiful Bill, including new deductions, exclusions, and credits
- Explain how changes to SALT limitations, passthrough entity taxes, charitable deductions, and senior-focused benefits affect common client fact patterns
- Evaluate the practical impact of income exclusions such as no tax on tips and overtime and determine which taxpayers may benefit most from these provisions and to answer common return preparation questions
- Apply updated rules relating to bonus depreciation, the qualified business income deduction, and selected business credits when advising closely held businesses
- Recognize planning opportunities and compliance risks arising from changes to HSAs, emerging account structures, and estate and gift tax provisions as guidance continues to develop
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Some basic knowledge of prior legislation
Advance Preparation
None
