One Big Beautiful Bill Act - What is in the New Law? (4 hours - morning) - NEW! - Webcast
Overview
This 4-credit hour course covers the One Big Beautiful Bill Act (HR 1), a landmark law passed before July 4, 2025. Essential for tax professionals, it permanently extends and enhances many 2025 expiring tax provisions from the Tax Cuts and Jobs Act, accelerates most energy incentive expirations from the Inflation Reduction Act, and adds new, temporary individual tax relief (qualified tips, overtime, car loan interest) and “Trump Accounts.”
Highlights
- Permanent Individual Tax Relief & New Temporary Deductions: Lower tax rates, higher standard deductions, enhanced child tax credit, new temporary senior, qualified tip, overtime, and car loan interest deductions, plus Trump Accounts.
- Permanent Business Tax Reform & Domestic Investment Incentives: Permanent 100% bonus depreciation, full domestic R&E deduction, increased Section 179 limits, and special depreciation for qualified production property.
- America-First International Tax Reforms: Modified foreign tax credits, changes to FDII and Net CFC Tested Income (formerly GILTI) deductions, increased BEAT rate, and repeal of tax-free deemed foreign investment return (QBAI).
- Health Tax Reforms: Changes to Premium Tax Credit eligibility and recapture, expanded HSA eligibility (Bronze/Catastrophic plans), and direct primary care service treatment.
- Community Development & Small Business Enhancements: Permanent extension/enhancement of Opportunity Zones, LIHTC, NMTC, and QSBS gain exclusion, plus information reporting threshold adjustments.
- Termination of Green New Deal Subsidies: Accelerated termination/restriction of clean energy credits/deductions (clean vehicles, alternative fuels, energy-efficient homes, clean electricity production/investment).
Designed For
CPAs and tax professionals
Objectives
By course end, you’ll be ready to recognize, apply, and advise on these changes for tax year 2025 and beyond.
Leader(s):
Leader Bios
Edward Zollars, Partner, Thomas Zollars & Lynch Ltd
Edward K. Zollars, CPA-AZ, is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He has been in practice for over twenty-five years, specializing in tax issues for closely held businesses and individuals. Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues and was the Tax Section's representative on three occasions to the AICPA's Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop's Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs.Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010. Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA's Accountants Forum in the mid 1990s. He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.
(02/25/25)
Non-Member Price $245.00
Member Price $195.00