03/26/2026
Contractors: 3 things changed in the tax code that could save you thousands this year.
Congress passed the One Big Beautiful Bill and here's what it means for you:
1. That truck you just bought? 100% deductible. The year you buy it. And this is now PERMANENT.
2. The pass-through deduction (QBI) just got easier to qualify for. If your business makes at least $1,000 in qualified income, you're guaranteed at least a $400 deduction, even if you were phased out before.
3. State and local tax deductions jumped to $40,000. If you're paying Washington B&O tax or property taxes on your shop, this matters.
Most CPAs won't tell you about this stuff until tax time. By then it's too late to plan around it.
Are you buying equipment for your business?
