• Research and experimental expenditures: Eligible domestic research and development expenditures may be deducted immediately beginning after December 31, 2024. Special options may apply to certain small-business expenditures capitalized in earlier years.
  • Business-interest limitation: The adjusted-taxable-income calculation for the 30% business-interest limitation was modified to account for depreciation, amortization, and depletion under the restored EBITDA-style approach.
  • Section 179 expense: The maximum Section 179 deduction increased to $2.5 million and the phaseout threshold to $4 million, with inflation adjustments and other qualification rules.
  • Advanced manufacturing investment credit: The credit rate increased from 25% to 35% for qualifying property placed in service after December 31, 2025.
  • Opportunity Zones: A new permanent Opportunity Zone framework was created for future designation rounds. Timing, geography, and investment requirements should be reviewed against current Treasury and IRS guidance.
  • Percentage-of-completion method: The law added an exception to the percentage-of-completion accounting requirement for certain qualifying residential construction contracts.
  • Qualified Small Business Stock: The QSBS rules added partial exclusions for certain three- and four-year holding periods, increased the full exclusion cap to $15 million, and raised the gross-asset threshold to $75 million for eligible stock issued after enactment.