Tax season 2026: What business owners need to know about the One Big Beautiful Bill

About this episode

This episode discusses essential tax information for small business owners in preparation for the 2026 tax season, focusing on new regulations and deductions.

As a small business owner, it’s important to be prepared and properly file your taxes. Staying up to date on rules and regulations will help ensure that you don’t leave any money on the table, and we strongly recommend partnering with a tax professional to help you with the process. [01:04] The 2026 Tax & Compliance Landscape [01:31] “No Tax” Deductions Explained [03:40] Least Understood One Big Beautiful Bill Act Provisions [07:40] Overtime Deduction: What Qualifies [10:02] Tip Deduction: Key Rules & Limitations [11:46] Industries Affected by the New Tip Rules [12:44] New FICA Tip Credit Expansion [15:59] IRS Guidance for 2025 Reporting [18:48] Final Advice for Small Businesses This content is based on generally accepted HR practices, is advisory in nature, and does not constitute legal advice or other professional services. ADP does not warrant or guarantee the accuracy, reliability, and completeness of the content. Employers are encouraged to consult with legal counsel for advice regarding their organization's compliance with applicable laws. This content is current as of the published date. Copyright © 2026 ADP, Inc. All Rights Reserved. The ADP logo, ADP, RUN Powered…

Topics covered

• 2026 Tax & Compliance Landscape
• Tax Deductions
• One Big Beautiful Bill Act Provisions
• Overtime Deduction
• Tip Deduction
• FICA Tip Credit Expansion
• IRS Guidance

Keywords

• tax season
• small business
• tax professional
• compliance
• deductions

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