One Big Beautiful Bill Act
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Watch the Webinar.
Understanding the OBBBA: Tax Implications for Businesses and Family Trusts
Questions answered at the end of the webinar include:
- If you want to amend to take advantage of the R&D credit, would the new partnership amendment rules apply?
- The owners of the partnership include trusts
- With these new rules around CFCs, does this mean there is no longer a filing requirement for 5471s on these CFCs?
- What is the reasoning for BEAT now excluding the R&D credit?
- Are there any basis trap avoidance strategies in the OBBBA for Real estate held in a S Corp?
- What is the impact of making Section 954(c)(6) look-through rules permanent?
- Partial-year CFC ownership means additional reporting requirements for US shareholders?
- OBBBA lifts downward attribution of stock rules, so that means no inclusion of income from a foreign subsidiary in a controlled group?
- So most americans will see some sort of tax savings, however it might be offset based on the increased time to prepare the return, IE – more cost to the client?
- If you have a small estate, and my childlren are very accomplished and have significant wealth on their own, can the way they inherit my estate affect their estate?
- For the 6K additional deduction for seniors 65+, can you only take if you do the standard deduction and not itemizing?
- Are there any income thresholds/phase outs for the Trump children accounts?
- For the automobile loan interest deduction, is it only for auto loans for new cars? IE – what if i bought a used 2003 car in july of 2025?
- Why would the new bill add a floor of 0.5% for chariable contributions? Would’t the government want to encourage charity contributions? this almost seems like the opposite (even though it is a small floor)
- Any thoughts as to why the government reduced the gambling loss deduction to 90%?
- Did the OBB change any existing law regarding the tax due and owing on the sale of foreign real estate in countries that have tax treaties with the US?
- Are taxpayers able to carry forward and use the 105 of unused gambling losses
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