Understanding Full Expensing for Business Property and R&D Costs Under the New Tax Legislation

In this episode of the Know Your Numbers REI podcast, host Chris McCormack dives deep into the recent changes in U.S. tax law following the passage of a significant piece of legislation on July 4, 2025. This episode focuses on two crucial sections—70301 and 70302—pertaining to full expensing of business property and immediate expensing of research and development costs.Chris explains how the reinstatement of 100% bonus depreciation for business property is a game-changer for real estate investors and business owners. He discusses the implications of this law, including how it allows for significant tax savings and strategic planning opportunities. Additionally, he highlights the new provisions for startups, enabling them to fully expense their research and development costs in the year they are incurred, rather than amortizing them over 15 years.Whether you're a real estate investor, a business owner, or an entrepreneur, this episode is packed with valuable insights on how to leverage these tax changes to grow your wealth and reduce your tax burden.If you find value in this episode, please leave us a review, follow us on Spotify, and share it with anyone who could benefit from understanding these tax changes.••••••••••••••••••••••••••••••••••••••••••••➤➤➤ To become a client, schedule a call with our team➤➤ https://www.betterbooksaccounting.co/contact••••••••••••••••••••••••••••••••••••••••••••Connect with Chris McCormack on Social MediaFacebook: https://www.facebook.com/chrismccormackcpaLinkedIn: https://www.linkedin.com/in/chrismccormackcpaInstagram: https://www.instagram.com/chrismccormackcpaJoin our Facebook Group: https://www.facebook.com/groups/6384369318328034→ → → SUBSCRIBE TO BETTER BOOKS’ YOUTUBE CHANNEL NOW ← ← ← https://www.youtube.com/@chrismccormackcpaThe Know Your Numbers REI podcast is for general information purposes only and is not intended to provide, and should not be relied on for, tax, legal, or accounting advice. Information on the podcast may not constitute the most up-to-date legal or other information. No reader, user, or listener of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal and tax advice from counsel in the relevant jurisdiction. Only your individual attorney and tax advisor can provide assurances that the information contained herein – and your interpretation of it – is applicable or appropriate to your particular situation. Use of, and access to, this podcast or any of the links or resources contained or mentioned within the podcast show and show notes do not create a relationship between the reader, user, or listener and podcast hosts, contributors, or guests.