What the 2025 tax code changes mean for your small business
Three provisions buried in the recent omnibus bill could meaningfully affect how you structure deductions this year.
The Tax Relief for American Families and Workers Act of 2025 introduced three changes that directly affect small business owners: an extension of 100% bonus depreciation through 2026, revised thresholds for the §179 deduction ($1.22M for 2025), and updated safe-harbor rules for home office deductions. For Chicago small businesses operating as pass-through entities, the most actionable change is the bonus depreciation extension — any equipment purchased before December 31st, 2025 qualifies for full first-year expensing rather than the phased depreciation schedule that would otherwise apply. If you made significant capital investments this year or are planning to, book a strategy session with us before Q4 closes. The window matters.
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