If you run or finance a manufacturing business in the U.S., Section 70301 of the “One Big Beautiful Bill” is worth your full attention. It makes 100% bonus depreciation (full expensing) permanent for qualified business property under.


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Before the actual amount of tax to be paid is determined, various direct offsets to tax liability are taken. Such “direct offsets” are called “tax…
After adding up all the income and taking all the deductions, we have arrived at the net taxable income amount. Based on that number, the income tax…
Note that the standard deduction amounts are used if the total of all the “below the line” deductions does not exceed $13,850 for single and married…
Health savings account (HSA) Contributions other than employer contributions, rollovers, and qualified HSA funding distributions from an IRA to your…
