Category: Tax
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Federal and Texas Tax Law Changes from 2024 to 2025 for Small Businesses and Sole Proprietors
Introduction Several significant tax law changes took effect between 2024 and 2025 that impact U.S. small businesses and sole proprietors. New federal legislation – notably the One Big Beautiful Bill Act (OBBBA) signed in mid-2025 – introduced many updates to business deductions, credits, and reporting requirements. Additionally, routine IRS adjustments and policy changes (like inflation-indexed
Allgood Bookkeeping 