In the News | CNBC
Biggest Trump tax cut benefits for small business owners to keep more income on Main Street
Oct. 5, 2025 · Authored by Diana Walker
Big news for innovators and small businesses.
Baker Tilly’s Diana Walker spoke with CNBC about a major change in R&D tax treatment, a big win for small businesses and start-ups. Under the new law, companies can immediately deduct 100% of domestic R&D costs after 2024, reversing a key provision of the 2017 Tax Cuts and Jobs Act. This change provides much-needed relief for companies that drive innovation and offers opportunities to claim credits for past years.
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