"One Big Beautiful Bill" & R&D Tax Credits: What CPAs Need to Know

In this episode of Let's Talk Tax, host TJ Sponsel is joined by David Seibel, EA, a shareholder in the R&D Tax Credit practice, to discuss the impactful "One Big, Beautiful Bill" and its implications on the R&D Tax Credit. They delve into the new opportunities and challenges for small versus large taxpayers, risk mitigation strategies, and options for amending past returns. The conversation also addresses the significant changes for the 2025 tax season. Tune in for actionable insights and expert advice tailored for growth-minded CPAs and real estate professionals. Visit mcguiresponsel.com or connect with our R&D Team for more information.00:00 Introduction to the "One Big Beautiful Bill"00:22 Meet the Expert: David Seibel, EA00:27 Understanding Section 174 Expensing01:47 Impact on Small vs. Large Taxpayers03:30 Key Provisions of the OB3 Bill05:41 Guidance for CPAs and Clients09:11 Compliance Strategies and Scenarios19:56 Employee Retention Tax Credit Update23:45 Conclusion and Final Thoughts