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In this episode of the Small Business Briefing, Brian Calley and Sarah Miller provide essential updates for Michigan businesses. They break down the new “One Big Beautiful Bill” tax legislation, highlighting increased standard deductions, a higher state and local tax (SALT) deduction cap, expanded child tax credits, and new rules for overtime and tipped wage income.
The discussion also covers significant business tax changes, including the permanent 20% Qualified Business Income (QBI) deduction, expanded eligibility for service professions, accelerated depreciation for capital investments, and more generous business interest and R&D deductions.
The team addresses the ongoing fight against a proposed Michigan graduated income tax, sharing recent wins in the ballot initiative process and analyzing the potential impact on Michigan’s competitiveness and population trends.
Additional updates include the outlook for Federal Reserve interest rate cuts, the effects of unresolved trade and tariff negotiations, and a notable decline in Canadian tourism to Michigan.
The episode wraps up with news about the acquisition of Kellogg by Ferrero, its implications for Michigan operations, and a brief update on the 2026 election landscape.
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