• Jul 07, 2026 wisecpa

New Tax Law Brings More Certainty for Small Business Owners

If you’re a business owner, you know how difficult tax planning can be when the rules seem to change every few years. The recently passed One Big Beautiful Bill Act (OBBBA) provides much-needed stability by making many of the temporary provisions from the 2017 tax reform permanent.

For business owners looking for accounting for small business Delaware, this creates new opportunities to make long-term financial decisions with greater confidence.

What Changed?

Here are some of the most significant provisions that are now expected to remain in place for the foreseeable future.

Individual Tax Rates Stay the Same

The current federal tax brackets will remain in effect. The highest tax rate stays at 37% instead of increasing to 39.6% as previously scheduled.

This provides more certainty for individuals and business owners whose income flows through to their personal tax returns.

The Child Tax Credit Increases

Rather than dropping back to $1,000 per qualifying child, the Child Tax Credit increases to $2,200 per qualifying child beginning in 2025 and will continue moving forward.

Higher Standard Deduction Remains

The larger standard deduction is now permanent and will continue to adjust for inflation. Because of this, fewer taxpayers will need to itemize deductions each year, simplifying the filing process for many families.

Itemized Deduction Rules Continue

Several limitations that were set to expire are now permanent, including:

• The $750,000 mortgage interest deduction limit

• Changes to itemized deductions

• An increased State and Local Tax (SALT) deduction cap, which rises from $10,000 to $40,000 for many taxpayers

Qualified Business Income (QBI) Deduction Continues

One of the biggest wins for many entrepreneurs is the continuation of the Qualified Business Income (QBI) deduction.

If your business income is reported on your personal tax return—such as a sole proprietorship, partnership, or S corporation—this deduction can significantly reduce your taxable income.

For many Delaware business owners, the permanence of the QBI deduction makes long-term tax planning much easier.

Estate and Gift Tax Exemptions Stay Higher

The higher federal estate and gift tax exemptions also remain in place. These exemptions were expected to be reduced by roughly half but will now continue at their current higher levels, benefiting families and business owners planning future wealth transfers.

What This Means for Delaware Small Businesses

While many of these changes create greater certainty, tax planning is still essential. Future legislation could always revisit parts of the law, and every business has unique circumstances.

That’s why working with a trusted local CPA Delaware businesses rely on can make all the difference. Strategic tax planning can help you maximize deductions, reduce surprises, and make informed decisions throughout the year—not just during tax season.

Let Wise Business Solutions Help

At Wise Business Solutions, we specialize in accounting for small business Delaware entrepreneurs can count on. From tax planning and bookkeeping to payroll and business consulting, we’re here to help you make confident financial decisions every step of the way.

If you’d like to understand how these tax law changes affect your business, contact our team today. Together, we’ll build a tax strategy that supports your goals today and well into the future.