What's In The Final Tax & Budget Law?
Posted On
July 10, 2025
The tax and budget bill, signed into law on July 4, includes business tax incentives to promote growth: the R&D tax credit, 100% bonus depreciation, and 20% deduction for pass-through business entities. It increases the maximum amount a taxpayer may expense to $2.5 million, restores a more favorable standard for calculating interest deductions, and raises the estate tax exemption to $15 million. However, it eliminates many clean energy credits, including those for biomass stoves and boilers.
Read more: Hardwood Federation & National Association of Home Builders →