Hey 👋

If you've heard about the One Big Beautiful Bill Act (OBBBA) and your brain went "cool, more tax stuff I don't have time for" — don't worry. I've got you.

Here's the thing: buried under all that legislative jargon are some genuinely awesome opportunities for small business owners. And since most provisions kicked in for tax year 2025 (returns filed in 2026), the window to act is now — not next April.

Let's skip the fluff and get to the good stuff. Here are 3 ways you can put OBBBA to work for your business right now.

💰 1. Go Buy That Thing You've Been Eyeing

Remember when bonus depreciation was slowly fading away? Well, OBBBA said "psych" and permanently brought back 100% bonus depreciation. That means if you buy qualifying equipment, machinery, computers, or vehicles and put them in service by year-end, you can deduct the full cost this year.

Your move: Look at your capital spending plan for the next 12 months. If something's on the list, buy it before December 31. Just make sure it's ready to use (not sitting in a box) before you ring in the new year.

📋 2. Stop Sending 1099s for Tiny Payments

Raise your hand if you love paperwork... (crickets)

OBBBA raised the 1099 reporting threshold from $600 to $2,000. So if you've been generating 1099s for every contractor who got $600, you can now breathe — a little.

Your move: Update your accounting software threshold to $2,000. Still collect W-9s from everyone (because you won't always know who'll cross that line), but save yourself the headache of filing forms for smaller gigs.

🧾 3. Claim Your $400 Safety Net (Yes, Free Money)

The QBI deduction got a glow-up. OBBBA made it permanent and added a $400 minimum deduction — as long as you have at least $1,000 of qualified business income from an active trade or business you materially participate in.

Your move: If you thought the QBI deduction was out of reach, run the numbers again. That $400 floor might just surprise you.

Bottom line: OBBBA isn't just a law — it's a checklist. And we're here to help you check every box.

👉 Ready to make sure your business is OBBBA-ready? Hit reply and let's chat about a mid-year books review. We'll make sure your 2026 return captures everything you're entitled to.

Catch you next week!

— Lori ​
​Wolf Accounting Services LLC

This newsletter is for general informational purposes only and does not constitute tax, legal, or advertising advice. Consult a qualified professional regarding your specific situation.​
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