CLIENT ALERT: Tax Changes Under the One Big Beautiful Bill Act

As the One Big Beautiful Bill Act ushers in significant tax changes, it’s crucial to stay informed and prepared. At Falcon Rappaport & Berkman LLP, our experienced tax team is closely monitoring these updates and is ready to provide the strategic guidance you need. While the list of changes is extensive, we’ve highlighted what we believe to be the most impactful areas for our clients:

Depreciation and Expensing

Estate, Gift, and Generation-Skipping Transfer Tax

Qualified Opportunity Zones

State and Local Tax (SALT) Limitations

Qualified Small Business Stock

R&D/R&E Restored and Expanded

How Can We Help?

If you have any questions or need personalized guidance on how these changes may affect you or your business, or if there are aspects of the bill not covered here that are of interest or may require our attention, please don’t hesitate to contact us. Our team is here to help you navigate these updates with confidence and clarity.

DISCLAIMER: This summary is not legal or tax advice and does not create any attorney-client relationship. This summary does not provide a definitive legal opinion for any factual situation. Before the firm can provide legal advice or opinion to any person or entity, the specific facts at issue must be reviewed by the firm. Before an attorney-client relationship is formed, the firm must have a signed engagement letter with a client setting forth the Firm’s scope and terms of representation. The information contained herein is based upon the law at the time of publication.