Tax Cuts, Compliance, & Opportunity

Discover key tax strategies, compliance tips, and new opportunities from recent legislative changes to optimize your business's financial future.

August 26, 2025

In today’s Finance Pulse, gain insight into how:

  • The Tax Relief Act of 2024 offers significant benefits for small businesses with extended tax cuts, deductions, and hiring incentives.

  • Sales tax compliance is crucial to avoid fines and audits, and leveraging automation and expert advice can simplify the process.

  • Recent tax updates through the "Big Beautiful Bill" present opportunities for improved tax strategies with enhanced depreciation and expensing options.

Each of these articles is penned by members of Forbes Finance Council, key luminaries shaping the future of finance.

How the Tax Relief Act Could Reshape Small Businesses

The Tax Relief for American Families and Workers Act of 2024, affectionately nicknamed the "One Big Beautiful Bill," is making waves in the small business world.

Here's what you need to know:

🧾 Extended Tax Cuts: The 20% Qualified Business Income deduction now lasts beyond 2025, giving LLCs, S corps, and partnerships a longer runway for tax savings.

 💼 Investment Incentives: Section 179 caps jump to $2.5M, and businesses can still opt for 100% bonus depreciation on big-ticket purchases.

👨‍💻 Hiring Help: The Work Opportunity Tax Credit extended to 2025 supports businesses hiring veterans and other groups, with a potential new training credit incoming.

🚀 Simplified R&D Credits: Tech startups and innovators can breathe easier with streamlined rules for claiming research and development expenses.

Still Interested in Forbes Finance Council?

As a member, you'll receive:

  • Publishing Opportunities: to share your expert insights on Forbes.com through Expert Panels and bylined articles.
  • Executive Profile: a professional, SEO-friendly profile on Forbes.com.
  • Networking Benefits: access to a member portal to connect with other world-class finance leaders.
  • And Much More: from premium travel and lifestyle benefits, to exclusive, virtual knowledge sharing events, members join Forbes Finance Council to learn and grow with their peers.

Click the button below to continue your application today.

Sales Tax Compliance: How To Keep Your Business Audit-Ready

Sales tax compliance may seem like a technicality, but mishandling it can bring significant fines, reputational damage, and unexpected audits. For businesses spanning multiple states or industries, staying on top of rules and regulations is non-negotiable.

Here’s a high-level guide to preventing costly sales tax mistakes:

⚖️ Why Compliance Matters:

  • Costly Fines: Penalties can exceed 25% of taxes owed, bleeding your resources.

  • Reputation Risks: Errors, like overcharging customers, can damage trust and necessitate refunds.

  • Increased Audits: States now use advanced tech to monitor online sales, making audits more frequent and aggressive.

🛠️ Key Strategies for Staying Compliant:

  • Leverage automation tools to calculate tax rates and eliminate human error.

  • Conduct regular audits of your procedures to stay ahead of evolving tax laws.

  • Seek expert advice for complex tax situations or new product launches.

Strategizing Post-Tax Reform: Key Moves for Business Owners

With the "Big Beautiful Bill" signed into law, significant changes are here for business owners regarding depreciation, expensing, and R&D costs.

Key Tax Updates

✅ 100% Bonus Depreciation is Back: Fully deduct asset costs, but it depends on when you signed the contract—not just when you placed assets in service.

💰 Boosted Section 179 Expensing: The deduction limit has been increased to $2.5 million, providing a useful benefit across states due to inconsistent bonus depreciation rules.

📖 R&D Expensing Restored: Fully expense R&D costs starting in 2025, and correct past amortizations.

Action Steps

  • Review Capital Timing: Adjust or split contracts to maximize bonus depreciation.

  • Reevaluate Section 179: Perfect for exceeding bonus thresholds or nonconforming states.

  • Revisit R&D Credits: Amend past returns to unlock deductions and credits.

  • Plan Proactively: Deadlines for tax elections and changes are approaching. Begin planning immediately for optimal results.

Wrapping Up

If these articles sparked your interest, we have a network that you will absolutely love: Forbes Finance Council.

This exclusive, vetted community brings together the brightest minds in finance—founders, CEOs, CFOs, and other finance team leaders.

Put yourself at the forefront of innovation with access to publishing opportunities on Forbes.com, a personalized, SEO-friendly Executive Profile, and the chance to network with other respected leaders in the field.

Join Forbes Finance Council today, and become part of a group driving transformation in finance.