Bulletin for January 27, 2026

Eisneramper

Thanks to GNOEA member George Messing, Owner Messina’s Catering, for hosting this week’s networking event for GNOEA members at the Rooftop on Basin St!

Gregory Booth is a Partner in the firm’s Tax Services Group. With over 15 years of extensive public accounting experience, Greg primarily focuses on Federal tax compliance, planning and research. Greg has cultivated strong relationships with clients throughout the Gulf South region, with particular emphasis on the real estate, restaurant, and professional service sectors. Greg’s dedication to his clients extends beyond day-to-day tax matters, as he provides invaluable advice and strategic insights to support their long-term tax planning goals. Prior to joining the firm, Greg was a Director at Postlethwaite & Netterville (P&N), a leading full-service accounting and business advisory firm. In addition to his exceptional contributions in the accounting industry, Greg generously shares his knowledge and passion as an adjunct professor at Loyola University in New Orleans, Louisiana. Every fall semester, he imparts invaluable insights to aspiring accounting professionals, shaping the future of the field.

Greg presented to the GNOEA members on the One Big Beautiful Bill. He stated the qualified income deductions is made permanent, retaining the 20% deduction for non-specified service trade or business (“SSTB”) income above certain thresholds. The business interest expense deduction limit contains TWO provisions regarding Sec. 163(j), which limits the amount of business interest expense a taxpayer can deduct in a given year:

• Revives the use of EBITDA (instead of EBIT) for purposes of determining the business interest expense deduction limitation under IRC Sec. 163(j) retroactive to taxable years beginning on or after January 1, 2025.
• Disallows the use of interest capitalization (i.e., IRC Secs. 266, 263A, and 263(a)) as a way to deduct the interest expense for tax years beginning on or after January 1, 2026. Note: (This does not impact the 2024/2025 tax years).

For individuals Greg stated there are changes to the 1099 form. There is a deduction for auto loan interest if you purchases a new car after 12/31/24 and before 1/1/29.