OBBBA Series

Falcon Rappaport & Berkman’s tax team is prepared to navigate the evolving landscape shaped by the One Big Beautiful Bill Act. While the full scope of changes is extensive, we’ve identified the most critical areas where businesses and individuals will experience significant impact.

With a deep understanding of these shifts, our team is ready to provide strategic guidance tailored to your unique needs.

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

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.