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In this episode of the Iowa Manufacturing Podcast, host Leisa Fox sits down with Emma Brock, Tax Partner, and Jim Donovan, National R&D Tax Lead at Eide Bailly, to unpack the sweeping implications of the recently passed One Big Beautiful Bill (OB3). The conversation dives into how this legislation affects small to mid-sized businesses, with a focus on clarifying common misconceptions, identifying hidden opportunities, and outlining strategies for compliance and optimization.
Emma and Jim share their insights on the R&D tax credit—one of the most misunderstood but potentially impactful areas of the bill. Many companies, whether they realize it or not, are already engaging in activities that qualify for R&D credits, from process improvements to product development. The challenge often lies in documenting these efforts in a way that meets IRS standards while still being efficient for the business.
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The discussion emphasizes the importance of partnering with experienced tax advisors who not only understand the technical aspects of OB3 but can also assess whether pursuing certain credits is worth the investment in time and resources. With practical examples and expert analysis, Emma and Jim help manufacturers understand how to leverage tax law to strengthen their bottom line, reinvest in innovation, and stay competitive in a rapidly evolving market.
This episode is a must-listen for leaders and financial decision-makers in manufacturing who want to cut through the noise, avoid costly mistakes, and make informed choices about the opportunities OB3 presents. Whether you’re new to R&D tax credits or reevaluating your current approach, you’ll walk away with valuable takeaways to guide your strategy moving forward. For more information, contact Jim Donovan at jdonovan@eidebailly.com or ebrock@eidebailly.com.