Urgent Actions to Take Now on the New Tax Law for Businesses

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Act Now to Secure Tax Benefits Before They Expire

The recently enacted One Big Beautiful Bill Act offers a myriad of tax incentives for businesses and individuals. However, with some benefits expiring soon, it’s crucial to act promptly to maximize savings and investment opportunities. Key changes taking effect in 2025 and 2026 include incentives for electric vehicles (EVs), work opportunity credits for eligible hires, and energy-efficient construction boosts.

Maximizing EV Credits Before Deadline

If you’re considering purchasing an electric vehicle, you have until September 30, 2025, to take advantage of valuable federal tax credits. New clean vehicle credits can offer up to $7,500 for eligible purchases, and a 30% cost reimbursement is available for charging stations—again, installation must be completed by June 30, 2026. Don't wait too long; research your eligibility through the IRS FAQs to ensure you qualify and can claim these incentives.

Don't Miss Out on the Work Opportunity Credit

The work opportunity credit, which encourages hiring from targeted groups such as veterans or ex-felons, is set to expire at the end of 2025. This credit can support businesses with a substantial reduction in labor costs, offering up to $9,600 for hiring certain veterans. Ensure that you submit IRS Form 8850 within 28 days of hire to secure this credit and bolster your workforce diversity.

Rewarding Homebuilders and Energy-Efficient Projects

Contractors focusing on energy-efficient homes can benefit significantly from federal tax credits before the June 30, 2026 deadline. The potential credits reach as high as $2,500 per single-family home, incentivizing builders to prioritize energy efficiency as they plan new projects.

Navigating the complexities of the new tax laws can be daunting, but understanding these critical deadlines and utilizing the available credits will position your business for success as we transition into this new fiscal landscape. Make sure to consult with your financial advisor or accountant to tailor these opportunities to your specific circumstances.

Tax Strategies & Accounting

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Urgent Actions to Take Now on the New Tax Law for Businesses

Act Now to Secure Tax Benefits Before They Expire

Maximizing EV Credits Before Deadline

Don't Miss Out on the Work Opportunity Credit

Rewarding Homebuilders and Energy-Efficient Projects

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