The IRS says the One Big, Beautiful Bill Act was signed into law on July 4, 2025. For business write-offs, one of the biggest changes was that the law reinstated 100% bonus depreciation for certain qualified property acquired and placed in service after January 19, 2025. The IRS also says the law added a 100% special depreciation allowance for qualified production property placed in service after July 4, 2025, if construction began or the property was acquired after January 19, 2025. In addition, the law restored the ability to currently deduct domestic research and experimental expenditures for tax years beginning after December 31, 2024, instead of forcing amortization in every case; taxpayers can still elect to capitalize and amortize those domestic costs, while foreign research generally must still be amortized over 15 years.

The law also increased Section 179 expensing. IRS Publication 946 says the maximum Section 179 deduction for tax years beginning in 2025 is $2.5 million, reduced dollar-for-dollar when qualifying property placed in service exceeds $4 million; for 2026, the inflation-adjusted amounts are $2.56 million and $4.09 million. IRS small-business guidance also notes a niche new deduction for certain qualified sound recording productions, with up to $150,000 of eligible production costs deductible for qualifying productions commencing after July 4, 2025, and before January 1, 2026. IRS small-business guidance further says OBBB made the 20% QBI deduction permanent for qualified active trades or businesses, although that is better described as making an existing deduction permanent rather than creating a brand-new write-off.

 

One important catch: OBBB did not only add write-offs; it also accelerated the end of some energy-related credits and deductions. For example, IRS FAQ guidance says the 179D energy-efficient commercial buildings deduction will not be allowed for property whose construction begins after June 30, 2026. So the practical answer is that OBBB created or expanded several major business deductions, but it also shortened or removed some other tax benefits.