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Business Taxation Opportunities and Challenges in the One Big Beautiful Bill

ARTICLE | July 15, 2025


In the ever-evolving landscape of business taxation, the recent enactment of The One Big Beautiful Bill (OBBB) offers new opportunities and challenges for businesses. This comprehensive article delves into the intricacies of the OBBB, highlighting its impact on domestic research and experimental (R&E) expenditures. It sheds light on the significant amendments to Section 174, which partially reverses the changes introduced by the 2017 Tax Cuts and Jobs Act (TCJA), providing substantial relief to businesses involved in domestic research and development activities.

The article also explores the newly established transition rules, offering a detailed overview of the potential benefits and how companies can strategically apply these rules for maximum tax advantage. Moreover, it addresses the revisions to the R&D credit under Section 280C, providing crucial insights for businesses to optimize their tax planning. To learn more about the implications of The One Big Beautiful Bill on domestic research and experimental expenditures, click the link below.

Read the full article here...

Contact Heard, McElroy & Vestal today to schedule a consultation and see how we can help plan and optimize your business's strategy surrounding R&D expenditures.

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