What Business Owners Need to Know About the “One Big Beautiful Bill” Act

By Gary Galstyan, Founder & CEO

Earlier this year, Congress passed the One Big Beautiful Bill Act (OBBB), a wide-ranging tax and compliance measure. While headlines focused on the sweeping reforms, the real impact for small and mid-sized businesses is in the details.

As founder and CEO of Rockwell Capital Group, I’ve reviewed the legislation to help clients understand how it could affect day-to-day operations. Below is a concise guide to the major provisions—so you can plan with confidence.

Key Tax Changes

The Act aims to simplify the tax system for smaller enterprises while encouraging reinvestment. Highlights include:

Lower Corporate Rates

Businesses with less than $25 million in annual revenue may qualify for new tiered federal corporate rates:

· Under $5 million in taxable income: 15%

· $5 million–$25 million: 20%

This represents potential savings compared with previous flat rates.

Expanded Section 179 Deductions

OBBB increases the amount businesses can immediately deduct for equipment, software, and other capital investments—making it easier to offset the cost of growth.

Clearer Pass-Through Rules

Partnerships, S corporations, and sole proprietorships receive updated guidance on qualified business income (QBI) deductions, reducing ambiguity and improving tax-planning accuracy.

New Compliance Requirements

Tax relief comes with added responsibilities. Key changes to prepare for:

· Digital Recordkeeping – Certain financial records must be stored in federally compliant digital formats starting next fiscal year.

· Enhanced Payroll Reporting – Companies with employees or independent contractors must provide more detailed wage and withholding data.

· Environmental and Social Disclosures – Businesses receiving federal contracts or grants must report basic environmental impact metrics and workforce diversity data.

Opportunities for Growth

The legislation also sets aside funding to encourage expansion:

· Federal Grants and Low-Interest Loans – Especially for technology adoption, green energy, and manufacturing projects.

· Hiring & Training Incentives – Tax credits for apprenticeships and employee upskilling.

· Support for Rural and Underserved Areas – Additional credits and funding for businesses that launch or expand in these regions.

Steps to Take Now

Small and mid-sized businesses can position themselves early by:

1. Scheduling a Tax Review – Work with a CPA or advisor to understand how the new brackets and deductions apply to your structure.

2. Upgrading Accounting Systems – Move to cloud-based software to meet digital recordkeeping mandates.

3. Auditing Payroll Processes – Ensure accurate documentation for both employees and contractors.

4. Researching Grants and Credits – Even if you’re not yet eligible, knowing the criteria can guide future planning.

5. Preparing for ESG Reporting – Build capacity to track environmental and workforce data, even if not immediately required.

Why Expert Guidance Matters

Major tax laws rarely translate into simple, one-size-fits-all changes. The benefits of OBBB—lower rates, larger deductions, and growth incentives—are intertwined with new compliance rules. Careful preparation can mean the difference between missed opportunities and meaningful savings.

Rockwell Capital Group helps business owners interpret new legislation and create tailored strategies. If you’d like to understand how the Act may affect your company, our team can provide a personalized review.

Bottom Line

The One Big Beautiful Bill Act is one of the most significant shifts in small-business tax policy in recent years. By understanding its provisions and acting proactively, business owners can stay compliant and potentially reduce costs.

For a detailed analysis specific to your business, contact Rockwell Capital Group at (888) 676-7878.