Top 5 Planning Opportunities for Entrepreneurs After the New Tax Law
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Recent changes to federal tax law1 are opening valuable planning opportunities for entrepreneurs and small-business owners. With a proactive approach, business leaders can use these new benefits to strengthen their companies and plan for growth.
Professionals at CLA (CliftonLarsonAllen LLP)—including Miryam Wisnicki, Tax Principal, and Leslie Boyd, Managing Principal of Industry—are guiding clients through these changes and helping them align tax strategies with larger business goals.
"Whenever there's a shift in tax policy, it's a good time for business owners to take a fresh look at their overall strategy," Wisnicki says. "The factors that influence planning may have changed, which can open up new possibilities."
Here are five areas where business owners can benefit from a fresh look at their tax planning.
1. Enhancing itemized deductions options
The new law temporarily raises the state and local tax (SALT) deduction cap to $40,000 for those with adjusted gross income (AGI) of less than $500,000, beginning in 2025. At the same time, higher earners should be aware of new limitations on itemized deductions and changes to charitable giving rules coming in 2026.
Wisnicki explains, "There's a new overall limitation on itemized deductions, and that will typically affect the higher-income taxpayers." She adds, "People who don't typically think of themselves as being in that 37% bracket because they have a significant number of itemized deductions may still be impacted."
Another new provision affects charitable giving: "There's a new floor placed on charitable contributions where the first 0.5% of the taxpayer's AGI is deducted from their charitable contributions," Wisnicki says. "If the taxpayer has a high AGI, that could be a significant reduction in the benefit."
Because these changes are not effective until 2026, they create a window of opportunity. CLA advisors are helping clients consider options such as accelerating charitable gifts or using donor-advised funds in 2025.
2. Business deductions encourage growth and innovation
The revised tax law brings new flexibility to business deductions, especially for companies that are investing in their future. The ability to immediately deduct domestic research and development (R&D) expenses, take advantage of expanded business interest deductions, and claim 100% bonus depreciation on qualifying property after January 19, 2025, are all significant changes.
Wisnicki highlights the biggest benefits: "The three that I highlight for business owners is the ability to deduct research and development expenses once again, business interest expense expansion, and then finally bonus depreciation and Section 179 opportunities."
For companies that are investing in R&D, these changes support new ideas and investments, helping businesses stay competitive at home and abroad. "All of that will interplay with things like state tax considerations and maybe even what you are doing with respect to your research expenditures," Boyd says.
CLA's team uses scenario modeling to help business owners see how these deductions fit together, so their tax planning supports immediate needs and long-term strategy.
3. Using cost segregation to save on building purchases or upgrades
For those building, renovating, or buying property, cost segregation studies are now even more valuable. These studies help businesses identify which parts of a property can be depreciated more quickly, allowing for greater flexibility in tax planning.
"It can supercharge the value of a cost segregation, from a time value of money standpoint," Boyd explains. "Cost segregation can accelerate deductions on certain building components, allowing you to reduce taxable income." The professionals at CLA work with business owners to identify qualifying components and time deductions for greater benefit.
4. Reviewing your business structure
A company's legal structure has a big impact on taxes, succession, and growth. With the expanded Qualified Small Business Stock (QSBS) exclusion and the continuation of a low corporate tax rate, entrepreneurs have a good reason to revisit their entity choice.
"In order to be a qualified small business and get the benefits, you need to be a C corporation," Wisnicki says. "There is an opportunity here for pass-through businesses to consider whether there is a benefit in converting to a C corporation… so this evaluation has to be done with the help of a CLA tax advisor."
Boyd adds, "There are a lot of factors that go into our choice of entity, and if somebody is considering that, the biggest factor they need to think about is what their goal with the business is, whether to sell or to hold, and if they are investing the earnings in the business or withdrawing cash. Those tend to be the two biggest levers in those decisions." CLA's approach combines technical knowledge with a clear understanding of business goals, helping owners make confident decisions.
5. Planning for clean energy credits
Clean energy incentives remain a positive feature of the new tax law. C corporations, nonprofits, and public entities can find opportunities with credits and direct pay options, especially by acting before certain phase-outs begin.
"There are still opportunities available concerning clean energy projects, in particular if you are a C corporation... there is still the opportunity to look at credits out there available to purchase, and that's a planning opportunity," Boyd says. CLA assists clients in finding the right timing and approach to make their projects as beneficial as possible.
A collaborative approach to growth
Several provisions in the updated tax law are intended to encourage growth, reinvestment, and innovation. "There's so much more than just the numbers," Boyd observes. "And that's where I think CLA offers a valuable perspective on how we help clients."
Working with experienced advisors allows entrepreneurs to approach these changes confidently, knowing their tax planning supports immediate results and future success.
Click here to learn more about how CLA can help you navigate the new tax law and grow your business.
1 On July 4, 2025, U.S. President Donald Trump signed the One Big Beautiful Bill Act into law following swift passage by both the House and Senate.
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