Congress just cracked open the door to some long-overdue tax relief, and if you’re running a small business or startup, this could finally be the break you’ve been waiting for. The House passed a major budget resolution by just two votes—and now lawmakers are moving full steam ahead on a massive bill that’s expected to include permanent tax cuts, changes to energy and border policy, and some serious spending reductions.
Here’s what really matters for you: that frustrating rule that’s been making you spread out your R&D expenses over five years? It could be on its way out. This bill sets the stage to bring back full, immediate write-offs for research and development costs—something that used to help you reinvest faster and plan smarter. If you’ve been feeling stuck or like your tax strategy got flipped upside down after 2022, this is the change you’ve likely been hoping for.
Getting here wasn’t easy. There was a lot of back-and-forth, and the resolution barely made it through the House. But now that both House and Senate Republicans are mostly on the same page, the real work of drafting the full bill is getting underway. Tax committees are expected to start finalizing language in early May, and there’s pressure to move quickly with the debt ceiling deadline looming. Lawmakers want this entire package signed and delivered before Memorial Day.
So what does that mean for you? It means there’s momentum again. You might not need to play guessing games with Section 174 much longer. And if this all moves forward, it could bring some much-needed stability to your tax planning, especially if you’re putting money into innovation, development, or growth.
If staying ahead of tax changes is on your mind—or if you’re feeling stretched trying to manage the books, payroll, and everything else—we’re here when you’re ready to hand off some of that work.
