Michigan Business Network

Chris Holman welcomes Kevin Todd, CPA and Senior Manager, Maner Costerisan, Lansing, MI. Q1: For listeners who may not be familiar, can you share more about what the One Big Beautiful Bill Act (OBBBA) is? A: The One Big Beautiful Bill Act, signed into law on July 4, 2025, is a sweeping, nearly 900-page piece of legislation that touches on everything from taxes and health care to energy policy. It makes many provisions from the 2017 Tax Cuts and Jobs Act permanent and introduces new tax rules—some temporary, some permanent—that will impact both individuals and businesses. While the goal was simplification and economic growth, the reality is that the law is complex, and its impact will vary depending on your situation. Q2: The law brings back something called “bonus depreciation” for businesses, can you explain what that is? A: Bonus depreciation allows businesses to write off the full cost of certain equipment or property in the year they buy it, instead of spreading out the deduction over time. By making th