Chicago Business Attorney Blog
A New Era of Tax Policy for Business Owners
On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law, ushering in sweeping changes to the federal tax code. While the law has drawn national attention for its b
roader political implications, it contains several key provisions that Illinois business owners should take seriously. These changes affect everything from depreciation schedules and pass-through deductions to employer tax credits and employee compensation planning.