The One Big Beautiful Bill is changing how small businesses handle their books, like construction firms. It makes bonus depreciation for assets 100% and simplifies R&D expenses. We’re updating how we track assets and expenses for accurate financial reports.
The Inflation Reduction Act’s clean energy credits have new rules. This means we need to keep track of certified payroll and project costs in our ledgers. It helps us stay in line with the IRS. With clearer rules on interest, we can better analyze our finances and prepare for audits.
For pass-through businesses, OBBB makes the Section 199A deduction permanent. This means we can prepare our P&Ls for QBI more easily. We separate owner wages from other income, making tax prep smoother.
For businesses with C-corp shares, QSBS updates require careful record-keeping. This helps us plan for exits and align with tax rules. It’s another way the One Big Beautiful Bill impacts bookkeeping.
Procurement and payroll are also changing. We now track the cost of imports, including tariffs and customs. New rules for tips and overtime mean we need to be accurate with payroll. We match payroll to the general ledger and provide year-end statements for employees and CPAs.
We use online accounting software to keep everything organized. This includes invoices, contracts, and certified payroll. It helps us track expenses and maintain a clear audit trail.
Our plan is to update our bookkeeping practices. We’ll document bonus depreciation, track interest, and create detailed subledgers for energy projects. We’ll also map supply chains and update bids for accurate costs. With these steps, we can help your business stay compliant and grow under OBBB.
FAQ
How does the One Big Beautiful Bill Act change day-to-day bookkeeping for construction firms?
We update fixed asset policies and depreciation schedules. We also change project forecasting to reflect new rules. This includes 100% bonus depreciation and clean energy credits.
We segment interest by project and entity. We tighten job costing, payroll, and expense tracking in online accounting software. Our goal is to make policy changes clear in cash flow benefits while staying IRS compliant.
What should we change in our fixed asset and depreciation process for 2025–2029?
Tag every asset with acquisition and in-service dates. Also, mark election status and qualified property flags. Keep invoices, build sheets, and serial numbers attached in your ledger.
For heavy equipment, vehicles, and shop tools, model immediate expensing versus standard depreciation. This supports bonding, lending, and financial reporting.
How do the new interest deductibility rules affect our chart of accounts?
Create distinct interest accounts by entity and job. Attach loan agreements and allocation workpapers to each interest entry. This supports audit-ready documentation and better financial analysis for borrowing decisions.
It also ensures accurate tax preparation services under OBBB’s clarified limits.
What’s the bookkeeping impact of QSBS changes for construction suppliers or tech subsidiaries?
Maintain stock ledgers, equity issuance records, and basis tracking. Document Section 1202 eligibility, issuer asset size, and holding periods for tiered exclusions. We integrate these records with tax planning to model exits and capital gains exposure.
With Section 199A now permanent, how do we keep our QBI clean?
Produce monthly QBI-ready P&Ls—separate owner wages, guaranteed payments, and investment income not eligible for the deduction. Track entity-level results for LLCs, partnerships, S-corps, and sole proprietors. We validate thresholds, apply the new limits, and prepare year-end financial reporting that aligns with IRS compliance.
What payroll changes do we need for the new tip and overtime deductions?
Tighten timekeeping and tip capture in your payroll module. Reconcile to the general ledger monthly and issue year-end summaries employees can use for returns. Train supervisors on overtime policies—this helps recruiting and retention but does not replace fair wages or FLSA compliance.
How should we track domestic R&D so we can use the new expensing rules?
Create R&D cost centers. Use expense tracking to mark qualifying activities like wages and supplies. Keep time sheets and project briefs handy.
We make adjusting entries for retroactive expensing. We also keep documentation for the IRS.
What do clean energy credit changes mean for contractors bidding solar, EV, or efficiency work?
Build subledgers for each project to track certified payroll and apprenticeship hours. Attach source documents in your accounting software. Update pricing for credits that phase down.
How does the de minimis repeal and new tariffs change purchasing and job costing?
Add landed cost tracking to item receipts. Map vendors by country and update estimates for tariff costs. Consider bulk buys or domestic sourcing for better margins.
We push these costs into job costing for accurate bids and change orders.
What is the “one big beautiful bill bookkeeping impact” on cash flow planning?
We align capital purchases with bonus depreciation. Integrate interest deductibility rules. Use rolling forecasts for rate scenarios.
This keeps cash reserves healthy and supports equipment financing. Our financial analysis and reporting make these moves clear and actionable.
We operate only in the U.S. Do we need to worry about cross-border or IP rules?
Yes, if you import materials or use proprietary software. Record arm’s‑length pricing and tariffs. Maintain invoices and support for transfer pricing.
Accurate expense tracking and job costing protect margins and IRS compliance.
What governance and controls should we put in place to stay audit-ready under OBBB?
Use a monthly close checklist and document tax positions. Maintain audit trails in your accounting system. Attach source documents to every tax-sensitive transaction.
These bookkeeping best practices create clean files for lenders and the IRS.
How soon should we update our bidding and pricing models?
Now. Incorporate landed costs and revised credit values into budgets and estimates. We sync your estimates with the general ledger.
This reflects real costs and tax timing in production reports and WIP schedules.
Which online accounting software setup do you recommend for construction under OBBB?
Use a platform that supports job costing and subledgers. QuickBooks Online Advanced with Projects or Sage Intacct Construction work well. We configure charts of accounts for tariffs and R&D.
We also set up accounts for energy-credit labor, interest by job, and QSBS records. This streamlines tax preparation services.
How do we get help implementing these changes?
We offer bookkeeping, financial reporting, tax preparation services, and setup. Text or call (719) 203‑2063 or email Veronica@QuiverBookkeeping.com. We’ll turn policy into workflow.
Your books will support smart decisions, strong margins, and full IRS compliance.