Date: January 27th , 2025

Time: 3pmET | 2pm CT | 12pm MT | 11am PT

Duration: 120 Minutes

Description:

The One Big Beautiful Bill Act (OBBB), signed into law on July 4, 2025, brings sweeping updates for S corporations by extending and expanding key provisions of the 2017 Tax Cuts and Jobs Act (TCJA).

Under OBBB, lower individual tax rates are made permanent, tax brackets are widened, and the Qualified Business Income (QBI) deduction under Section 199A is extended beyond 2025. This lets S corporation shareholders continue excluding up to 20 percent of qualified business income—reducing overall tax liability by up to 20 percent or more. Beginning in 2026, expanded phase-out thresholds will allow more taxpayers to take full advantage of this benefit.

The session will also explore how OBBB reshapes entity selection decisions, from maintaining S corporation status to electing C corporation treatment and qualifying for enhanced Qualified Small Business Stock (QSBS) opportunities. In addition, we’ll review the temporary increase in the SALT deduction cap to 40,000 dollars (2025–2029), its phase-out rules for higher-income taxpayers, and how it interacts with state-level pass-through entity tax (PTET) regimes.

Topics Covered

• Major updates for S corporations under the One Big Beautiful Bill Act (OBBB)
• Permanent extension of lower individual tax rates and widened tax brackets
• Expanded and extended Qualified Business Income (QBI) deduction under Section 199A
• Maximizing the 20% QBI deduction and understanding new phase-out thresholds beginning in 2026
• Impact of OBBB on entity choice decisions—S corporation versus C corporation status
• Opportunities for enhanced Qualified Small Business Stock (QSBS) treatment
• Temporary increase in the SALT deduction cap to $40,000 (2025–2029) and its phase-out for high earners
• Comparison of federal SALT changes with state-level pass-through entity tax (PTET) regimes
• Strategic tax planning for S corporations in light of long-term OBBB reforms

Learning Objectives

• Explain the key S corporation provisions under the One Big Beautiful Bill Act.
• Identify how the extended QBI deduction and new thresholds affect shareholder tax planning.
• Evaluate whether retaining S corporation status or converting to C corporation status is more beneficial post-OBBB.
• Apply the new SALT deduction and PTET comparisons to optimize state and federal tax positions.
• Develop forward-looking strategies to align S corporation planning with OBBB’s long-term reforms.

Credits and Other information:

• Recommended CPE credit – 2.0
• Recommended field of study – Taxes
• Session Prerequisites and preparation: None
• Session learning level: Basic
• Location: Virtual/Online
• Delivery method: Group Internet Based
• Attendance Requirement:  Yes
• Session Duration: 120 minutes

Who Will Benefit:

• CPA
• Enrolled Agents (EAs)
• Tax Professionals
• Attorneys
• Other Tax Preparers
• Finance professionals
• Financial planners

About Our Speaker

Jason Dinesen , EA

President, Dinesen Tax & Accounting, P.C.

Jason Dinesen (LPA, EA) is an entrepreneur and tax expert. Jason brings over 15 years of experience helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries. He has coached more than 200k+ accounting, taxes, and HR professionals on various topics of accounting, individual taxation, corporate taxation, and professional ethics. Jason has developed a strong following within the professional community for tax-related subjects. Jason is known for sharp tax interpretations, and he quickly brings his analysis of the latest tax updates and IRS guidance to the professional community.