2026 Tax Strategy for Business Owners: Tariffs, OBBBA Wins, and the IEEPA Wild Card

Happy New Year

Here we go. We’re heading into 2026 with one eye on opportunity and one eye on uncertainty.

If you’re mapping out your 2026 tax strategy for business owners, there’s a lot happening. Here’s the landscape as I see it—and what it means for your tax plan this year.

The Tariff Squeeze Is Coming Home

So far, a lot of the tariff cost has been absorbed inside the supply chain—but the window for “quiet absorption” is narrowing. That pressure eventually shows up in:

• supplier pricing
• inventory costs
• customer pricing decisions
• margin and cash flow

If you import anything—or buy from suppliers who do—this affects you.

One data point worth respecting: the U.S. Chamber of Commerce estimates $202 billion in annual tariff taxes for 236,000+ small business importers (assuming import levels hold). That’s an average of roughly $856,000 per importer per year ($202B ÷ 236K). Small businesses are often the least equipped to absorb that kind of swing without changing pricing, buying, or cash planning.

This isn’t a reason to panic. It’s a reason to plan.

The Tax Landscape: Opportunities Are Still on the Table

The One Big Beautiful Bill Act (OBBBA) locked in some meaningful opportunities for business owners and households.

If you want the official IRS rundown of what changed, start here:

• One, Big, Beautiful Bill provisions (IRS)

Here are the big ones I’m seeing in planning conversations:

• Investment incentives are back. OBBBA reinstated 100% bonus depreciation for certain qualified property acquired and placed in service after January 19, 2025 (details matter here—timing and “placed in service” rules are everything).
• Child tax credit changes. The maximum Child Tax Credit increased to $2,200 per qualifying child (with refundable limits and eligibility rules still in play).
• Tips and overtime deductions (2025–2028). There are new deductions for qualified tip income and qualified overtime compensation—meaning both employees and employers need to think about tracking, substantiation, and payroll processes.

And if you’re still thinking about equipment purchases, cost segregation, or retirement plan optimization—those conversations need to happen now, not in Q4.

Internal resources to go deeper:

• OBBBA Bonus Depreciation: Write Off 30% of Your Building (Cost Segregation)
• No Tax on Tips Deduction for 2025: How It Works

The Wild Card: What Happens with IEEPA Tariffs?

The Supreme Court is expected to rule soon on whether tariffs imposed under the International Emergency Economic Powers Act (IEEPA) are lawful.

If those tariffs are struck down, tariff rates could drop materially—but the size and duration of that drop depends on what (if anything) replaces them under other legal authorities.

Either way, this is a real swing factor for:

• inventory decisions
• pricing strategy
• cash flow projections
• margin protection

I’m watching this closely and will update clients as soon as there’s clarity.

What This Means for Your 2026 Strategy

Here’s my honest advice for your 2026 tax strategy for business owners:

1. Don’t wait until Q4. The businesses that win this year will be the ones making proactive moves in Q1 and Q2—not scrambling in December.
2. Stress-test your margins. If tariff costs hit your P&L harder than expected, what’s your plan? Build that into your projections now.
3. Take advantage of what’s available. Investment incentives, deduction opportunities, and entity structure optimizations exist for a reason. Use them.
4. Stay liquid and flexible. Uncertainty favors businesses with cash reserves and adaptable strategies.

Let’s Talk

If we haven’t connected recently, now’s the time. I’m booking Q1 strategy sessions and can help you pressure-test your plan against:

• tariff-driven cost changes
• OBBBA-driven tax opportunities
• timing decisions (capex, hiring, retirement plans, entity structure)

Book your strategy session here

Read related content

• OBBBA 2025 Tax Planning: Why You Can't Wait Until December
• Immediate R&D Expensing for Small Businesses: OBBBA Section 174A Explained
• IRS List for OBBBA Tips Deduction: Do You Qualify?

P.S. If you know another business owner who needs this perspective, feel free to forward this along. The more prepared we all are, the better.