On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law, introducing extensive changes to the U.S. tax code. Most taxpayers want to know how this will affect their business and personal returns. A large portion of this bill made permanent the tax changes we saw with the 2017 TCJA, which was set to expire at the end of 2025. While the legislation spans a wide range of policy areas, we want to present a summary of aspects of the bill that focus on the tax provisions most relevant to businesses and individuals.