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The IRS and Congress rolled out several key changes in 2025 that directly affect small business owners, from bonus depreciation to reporting rules and inflation adjustments. Below is a roundup of the most important developments from the start of 2025 to now (November 2025), with direct links to IRS and Treasury sources so you can dig deeper. Inflation Adjustments and Tax Bracket Changes Every year, the IRS adjusts tax brackets and deductions for inflation, but 2025’s updates