July 10, 2025

The One Big Beautiful Bill Act (OBBBA) was recently signed into law marking the most sweeping tax reform since the Tax Cuts and Jobs Act (TCJA) in 2017. The legislation aims to extend TCJA and implement significant changes across various sectors including taxation, health care and social programs. Below is an overview of the key provisions so you know what to expect as the provisions go into effect.

OBBBA was signed into law on July 4, 2025 however, the effective dates for the provisions within OBBBA vary depending on the specific area of policy. While many begin in 2025 (retroactive or immediately upon signing), others begin in 2026 (or later) as noted below.

In summary, this legislation brings sweeping changes to estate planning, business deductions and investment incentives which requires a fresh look at existing tax strategies. Rest assured your team at QRGA, LLP is working hard to fully understand all of the changes and how to leverage them for the benefit of our clients. We will be working with you over the coming months to ensure you are prepared for the changes and will provide you with the recommendations and advice you need to accomplish your goals. Of course, should you have any questions in the meantime, please call the office at (781) 551-0040 to speak with a team member.

Lastly, please look for additional emails from us in the future that will go into detail on some of the key provisions listed above. We are committed to keeping our clients informed and proactively communicating with you. Therefore, we will keep you up to date as we take a deeper dive into OBBBA and develop tax planning strategies to maximize its benefits.

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It is important to us that our valued clients are receiving all of the information we make available to them. We know you are busy and your email inboxes may be full. As your trusted advisors, we believe in the importance of proactive communications with you so you are up-to-date on the accounting, auditing and tax topics that are relevant to you, your business and your family.

Sometimes, the information is technical in nature and requires a full explanation to understand it. Other times, our client messages are brief such as deadline reminders, IRS news, firm happenings, etc. In an effort to respect our client's time and avoid email inbox clutter, we communicate these items through our social media platforms. If you haven't had to a chance to follow us on Facebook and/or LinkedIn, we highly encourage you to do so in order to stay connected in 2025 and be aware of all the information we share with our clients and friends of the firm.

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QRGA, LLP Certified Public Accountants | (781) 551-0040 | www.qrgacpa.com

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