Key Tax Provisions in the 2025 OBBB
What it means for California businesses and CPAs
Stay ahead of the biggest tax reform since 2017
The 2025 One Big Beautiful Bill Act (OBBB) brings sweeping updates to the tax code, many with direct implications for California taxpayers and the CPAs who serve them. From changes to the SALT deduction cap and international tax rules, to enhanced R&D expensing and new limitations on clean energy credits, this legislation could significantly impact planning strategies for individuals, businesses, and multinationals alike.
CalCPA is here to help you navigate the changes. Explore our exclusive video series, in-depth resources, and expert insights to stay ahead of the changes and confidently guide your clients through what’s next. Stay tuned for the latest updates and insights!
Video Series
One Big Beautiful Tax Bill Series | 2025
The 2025 “One Big Beautiful” Tax Bill (OBBB) brings sweeping changes to the tax landscape, impacting individuals, small businesses, multinationals, and key industries across California. This multi-episode series breaks down the bill’s most significant provisions, with expert-led discussions designed to help CPAs and financial professionals understand what’s changing, what it means, and how to advise clients with clarity and confidence.
Jump to an episode: Episode 1, pt 1 | Episode 1, pt 2 | Episode 2 | Episode 4 | Episode 5
Episode 1, part 1: The Big Picture: Breaking Down the One Big Beautiful Tax Bill | What’s in the One Big Beautiful Bill?
Speaker:
Annette Nellen, CPA, Esq. | San Jose State University
This opening episode provides important context on the development of the 2025 tax bill and highlights key provisions practitioners should closely monitor. The session will cover items with retroactive effect, early termination dates, and distinctions between temporary and permanent changes. It will also offer insight into what’s currently omitted from the bill and what may still be under consideration for future legislation.
Episode 1, part 2: The Big Picture: Breaking Down the One Big Beautiful Tax Bill | Retroactive Tax Changes You Need to Know
Speaker:
Annette Nellen, CPA, Esq. | San Jose State University
Episode 2: Changes to Qualified Opportunity Zone
Speakers:
Annette Nellen, CPA, Esq. | San Jose State University
Blake Christian, CPA | HCVT
The 2025 tax bill brings important updates to the Qualified Opportunity Zone (QOZ) program, introducing new criteria, timelines, and targeted incentives that CPAs and investment professionals need to understand.
Episode 4: Labor and Employment Law Update
Speakers:
Susan K. Hatmaker | Hatmaker Law Group
The latest federal tax bill brings major changes to payroll and paycheck rules—especially for tips and overtime pay.
Episode 5: Navigating Itemized Deduction Changes in the 2025 Tax Bill
Speakers:
Join Troy Lewis, CPA, CGMA | BYU
Several smaller, but important, individual tax provisions were modified. This quick episode explores updates to itemized deductions, including mortgage interest, charitable contributions, casualty losses, and miscellaneous deductions.
