The new tax laws that have taken effect beginning in 2025 and into 2026, several important business tax provisions that previously faced sunset dates have now been made permanent, giving businesses greater certainty for long-term tax planning. Notably, the law permanently restores 100% bonus depreciation for qualifying business property acquired and placed in service after January 19, 2025, allowing businesses to immediately deduct the full cost of eligible assets instead of depreciating them over time. At the same time, the Qualified Business Income (QBI) deduction under Section 199A, which lets eligible pass-through entities deduct up to 20 % of qualified income, has also been made permanent and features updated thresholds and a minimum deduction for taxpayers with sufficient income. These changes ensure that key tax breaks for capital investment and pass-through income remain available beyond their previous expiration dates, providing stability and potential tax savings for businesses of all sizes.
2026 Retirement Contribution Limits Increase
Under the new IRS tax rules for 2026, the limits for retirement plan contributions have increased to help taxpayers save more toward retirement. For workplace plans
