Episode Overview
Rebecca Warnick, CPA and founder of The Warnick Group, returns to explain the new One Big Beautiful Bill Act and what it means for equipment rental companies. She breaks down key changes like 100% bonus depreciation, the permanence of the QBI deduction, the new SALT cap, and tax-free overtime, while offering practical advice on planning for the long term instead of chasing short-term savings.
Timestamps:
- 00:00 – Introduction to the episode and recap of Rebecca’s previous appearance on Episode #48.
- 01:45 – Rebecca gives an overview of the One Big Beautiful Bill Act and its significance for rental businesses.
- 02:34 – Deep dive into the 100% bonus depreciation change, what it means, and why it matters.
- 11:35 – Rebecca explains the permanence of the 20% Section 199A QBI deduction for pass-through entities.
- 18:29 – Discussion of the new $40,000 SALT deduction cap and how it impacts companies in high-tax states.
- 21:40 – Kyle and Rebecca talk through the payroll implications of tax-free overtime and tips for hourly employees.
- 24:26 – They cover the phase-out of electric vehicle credits and how it may affect rental purchasing decisions.
- 27:40 – Solar energy credits are also ending, and Rebecca emphasizes the urgency for businesses considering those investments.
- 29:35 – The episode closes with a reminder that state tax codes may take time to catch up and rental companies need to plan accordingly.
