Episode Details

In this episode, host April Walker, CPA, CGMA, Senior Manager — AICPA & CIMA, sits down with Mark Gallegos, CPA, MST, Partner — Porte Brown, to unpack key year-end tax planning strategies. They dive into new opportunities for individuals and businesses under the H.R. 1, P.L. 119-21, the law known as the One Big Beautiful Bill Act (OBBBA), including the increased state and local tax (SALT) cap, expanded deductions and the return of immediate expensing for domestic research and development (R&D) costs. Tune in for practical insights on proactive planning and multi-year modeling to help clients maximize benefits under the new law.

What you'll learn from this episode:

• The impact of H.R. 1 on income tax planning
• Learn more about new and expanded deductions
• Hear about year-end actions that might be beneficial for taxpayers
• Why entity choice conversations might be necessary given the current law

AICPA resources

• Planning after tax changes
• Tax Section
• Tax Section news and member FAQs
• Year-End Tax and Financial Planning Toolkit