Course Description

This program provides a practical exploration of the One Big Beautiful Bill Act and its impact on taxpayers’ ability to minimize taxable income through deductions and credits. Participants will gain a clear understanding of the Act’s key provisions, eligibility requirements, and planning opportunities. With a focus on both individual and business tax benefits, the course equips practitioners with strategies to identify, evaluate, and implement deductions and credits that maximize client outcomes. Real-world examples and case studies will help solidify concepts into actionable planning tools.

Learning Objectives

By the end of this course, participants will be able to:

• Explain the major deduction and credit provisions of the One Big Beautiful Bill Act
• Identify eligibility criteria for key deductions and credits under the Act
• Evaluate the comparative benefits of deductions versus credits for different taxpayer scenarios
• Apply statutory and regulatory guidance to maximize available tax benefits for individuals and businesses
• Recognize common pitfalls and compliance risks when claiming deductions and credits
• Develop client planning strategies that integrate deductions and credits to minimize taxable income

Topics Covered

• Overview of the One Big Beautiful Bill Act and its policy goals
• Individual-level deductions (mortgage interest, medical, charitable, etc.)
• Business-level deductions (depreciation, Section 179, meals & entertainment, etc.)
• Key credits for individuals (education, energy, child-related, etc.)
• Key credits for businesses (research, energy, hiring, etc.)
• Comparing deductions versus credits: strategic considerations
• Interaction of credits and phaseouts under the Act
• Recordkeeping and substantiation requirements
• Common errors and audit red flags related to deductions and credits

Who Should Attend

• CPAs and public accountants
• Tax attorneys and legal advisors
• Enrolled agents and tax practitioners
• Financial planners and wealth advisors
• Corporate tax managers and compliance officers
• Business owners and executives seeking to optimize tax outcomes
• Government and nonprofit finance professionals handling tax compliance