What the One Big Beautiful Bill Means for Your Business

5 changes that could actually help small business owners across Iowa, Nebraska, Kansas, and Missouri

Let’s be real: most policy changes don’t feel like they mean much to someone running a plumbing business in Topeka or a print shop outside Des Moines. You hear about some “once-in-a-generation” legislation, and then you go back to work wondering what it’ll cost you this time.

But here’s the surprise, the One Big Beautiful Bill that passed this summer? It might actually help you. Like, real dollars in your pocket kind of help.

Not five years from now. Not buried in some 700-page PDF.
We’re talking about changes you’ll feel in your business this year.

1. You get to keep more of what you make

The pass-through deduction is now permanent. That’s up to 20 percent of your business income that gets knocked off your taxable amount before the IRS even touches it. If you’re an LLC, S Corp, sole prop, or partnership, this could mean thousands staying in your pocket every year.

For most owners I know, this is the first time in a long time the tax code moved in their favor. Talk to your tax person now, not in March. The more you prep for it, the more you keep.

2. You can write off the full cost of equipment, even if you finance it

Let’s say you buy a $40,000 box truck in October. You put $5,000 down and plan to pay the rest off over five years. Under the new law, you can still write off the full $40,000 this year.

That means a major tax deduction shows up before you’ve even made your second payment. It works for machines, tools, trailers, even certain software and renovations.

The catch is it has to be in use before year-end. If you’ve been thinking about upgrading your setup, this is your window. Don’t let it pass.

3. If you sell your business, you may not owe capital gains taxes

This one hasn’t gotten enough attention. If you sell stock in a qualifying small business after holding it for at least five years, you might not pay any tax on the gain. That includes sales to investors, family, or even employees in certain situations.

This opens the door for long-term exits without getting slammed by taxes on the back end. If you’ve spent your life building something and want to cash out without giving 30 percent to the government, now’s the time to start planning.

This doesn’t apply to every business, but it’s worth checking. Especially if you’re over 50 and thinking about what comes next.

4. Your team takes home more without raising your payroll

Under the new law, tips and overtime earnings up to $25,000 aren’t taxed for qualifying workers. This puts more cash in their pockets without forcing you to bump wages or bonuses.

If you’ve got good people who rely on seasonal hours or customer tips, tell them about this. It’s a win you didn’t have to fund — and a good reason for them to stay loyal.

Keep in mind this could change how you handle payroll reporting, especially for tipped roles. It’s worth a conversation with your bookkeeper so you’re not caught off guard.

5. There’s less paperwork to deal with come tax time

The 1099 reporting threshold has been raised. That means fewer forms to file and fewer reasons for the IRS to snoop around if you work with contractors, seasonal help, or side-gig crews.

It’s not life-changing, but it saves time and risk, especially if you’ve been straddling the line on how much work you send out to non-W2 folks.

Final thought

The One Big Beautiful Bill isn’t a magic fix. But it’s a rare thing: a government move that actually helps the people building real businesses.

If you’re smart about it, it could put more money in your pocket, lower your tax bill, give your crew a reason to stay, and help you sell smarter when the time comes.

That’s worth paying attention to.