H.R. 1 and the Road Ahead: Emerging Business Tax Considerations (3.5 hours)

Overview

Dive into H.R. 1, commonly referred to as OBBBA, business tax provisions, and planning imperatives in this session of the H.R. 1 Tax Masterclass Series.

We begin with:

Research and development (R&D) expensing under Sec. 174, including amendments, retroactivity, and small business election

Cost segregation/qualified production property (QPP)

Next, we'll lock in on:

Qualified business income (QBI) benefits

Temporary state and local tax (SALT) cap boost

Passthrough entity (PTE) workarounds

Industry experts will share insights on:

Real estate (mortgage, Opportunity Zones (OZs), Sec. 179D),

Manufacturing (bonus/production property) and construction

We will talk about the M&A provisions and an entity choice module, expanding on qualified small business stock (QSBS) tiers, OZ permanence, and leverage considerations.

We'll touch on:

The revived employee retention credit (ERC) and employer benefits planning

Energy incentives

Mapping timelines

Documentation requirements

State/ESG alternatives

Highlights

R&D / Sec. 174 / Cost Segregation / QPP

QBI

SALT - Temporary cap increase, PTE workarounds, and state conformity updates

Industry specific highlights

M&A provisions and entity choice

ERC and new planning considerations

Energy incentives

Prerequisites

Fundamental knowledge of the new H.R. 1 tax bill, commonly referred to as OBBBA.

Designed For

CPAs, tax practitioners, small firms, medium firms, large firms, sole practitioners

Objectives

Apply Sec. 174 retroactivity rules and small business elections to research budgets to optimize R&D expensing.
Distinguish QBI safe harbor strategies and model SALT cap/PTE workarounds across states.
Use actionable strategies for real estate, manufacturing, and construction clients, leveraging mortgage/OZ incentives, Sec. 179D deductions, and bonus depreciation timing.
Compare QSBS tiers, OZ permanence, and entity-based leverage for tax efficiency for M&A entities.
Identify ERC eligibility and design Trump EE comp agreements ahead of Sec. 274(o) to revive ERC and comp plans.
Determine incentive deadlines, satisfy documentation rules for Sec. 179D, and integrate ESG alternatives to leverage energy incentives.

Notice

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