Navigate Your Path to Financial Clarity
(414) 531-0653

Recent Federal Tax Legislation and Small Businesses: Key Changes to Watch

Jan 18, 2026 | Big Beautiful Bill, Newsletter, Small Business, Tax Planning

Written By Steven J. Pope

Small businesses are often affected more quickly by tax law changes than individuals, especially pass-through entities such as LLCs, S corporations, and sole proprietorships. Adjustments to deductions, depreciation rules, payroll treatment, or reporting requirements can directly impact cash flow and compliance.

Some changes may create opportunities, such as expanded deductions or planning strategies tied to timing income and expenses. Others may increase complexity, requiring closer attention to recordkeeping, payroll, or quarterly estimates.

Business owners should also be aware that federal changes often interact with state tax rules, which can amplify or offset their impact.

What business owners should review

  • Entity structure and whether it remains tax-efficient
  • Depreciation and asset purchase timing
  • Payroll, benefits, and owner compensation strategies
  • Estimated tax payments and cash flow projections

Regular review helps businesses stay compliant while identifying legitimate tax-saving opportunities.

Written By Steven J. Pope

Steven J. Pope, CPA, is the principal and lead tax advisor at SJP Tax Services, a Wisconsin-based accounting and tax firm serving individuals and small to medium-sized businesses throughout the Milwaukee area and surrounding communities. With over 20 years of combined experience in accounting, bookkeeping, tax, and business services, Steve brings a practical, client-focused approach to navigating complex tax and financial matters. Steve specializes in individual and business tax preparation, proactive tax planning, audit counseling and representation, and small business advisory services. His experience spans closely held businesses, real estate professionals, trusts and estates, and individuals with complex tax situations. He has extensive expertise in areas such as IRS and state audit response, 1031 exchanges, cancellation of debt issues, and the tax rules governing passive activities and real estate professionals. Throughout his career, Steve has emphasized proactive planning rather than reactive compliance. He works closely with clients year-round to identify opportunities to minimize tax liability, manage risk, and support long-term financial stability. Clients value his responsiveness, clarity, and ability to explain complex tax concepts in straightforward terms. Steve is committed to building long-term relationships based on trust, accuracy, and personalized service. Whether meeting clients in the office, at their place of business, or remotely using secure technology, his goal is to meet clients where they are and provide guidance that supports informed financial decisions.

Explore More Insights

0 Comments