December 31 is more than a date on the calendar — it’s a hard line for many tax and financial deadlines. If you’re a business owner in Woodland Hills or anywhere in Los Angeles, there are tasks to prioritize.

If you haven’t been following closely, the One Big Beautiful Bill Act (OBBBA) is a sweeping budget reconciliation law signed on July 4, 2025, covering tax reform, spending, healthcare, immigration, defense, and more. In political terms, it’s the modern-day omnibus — a single massive law with far-reaching effects.