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Internal Revenue Code (IRC) New Legislation Tax Planning

Allen Matkins

Bonus Depreciation Is Back! And Other Big Beautiful Taxes

Allen Matkins on

On Friday, July 4, 2025, President Trump signed into law the Reconciliation Bill commonly known as the One Big Beautiful Bill Act (OBBBA). Broadly speaking, the OBBBA extends and makes permanent many provisions enacted by the...more

Lowenstein Sandler LLP

One Big Beautiful Bill and Opportunities To Avoid or Defer Tax on Gains

Lowenstein Sandler LLP on

On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act (H.R.1) (OBBBA). This alert focuses on OBBBA changes regarding qualified small business stock (QSBS) and qualified opportunity zone (QOZ)...more

BCLP

Qualified Small Business Stock Benefits Expanded Under the One Big Beautiful Bill Act

BCLP on

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (the “Act”) into law. Among the many changes, the Act expands the favorable tax treatment for Qualified Small Business Stock (“QSBS”) under Section 1202...more

McCarter & English, LLP

One Big Beautiful Bill Act Tax Law Updates–Private Educational Institutions and Nonprofits

On July 4, 2025, President Trump signed into law legislation commonly referred to as the “One Big Beautiful Bill Act” (OBBBA), which includes provisions that specifically affect private primary, secondary, and post-secondary...more

Troutman Pepper Locke

The One Big Beautiful Bill Act: Analysis of Key Provisions for the Real Estate Industry

Troutman Pepper Locke on

On July 4, 2025, President Donald Trump signed H.R. 1 into law, the budget reconciliation bill known as the One Big Beautiful Bill Act (the Act). As discussed in our prior alert released following the passage by the House of...more

Jones Day

Qualified Small Business Stock Benefits Expanded in New Tax Bill

Jones Day on

The One Big Beautiful Bill Act expands the qualified small business stock benefits available to founders and investors....more

Jones Day

The One Big Beautiful Bill Becomes Law: Key Real Estate Tax Changes

Jones Day on

Signed into law on July 4, 2025, the One Big Beautiful Bill Act (the "Act") permanently extends and modifies several cornerstone provisions of the Tax Cuts and Jobs Act of 2017, restores key business incentives, and makes...more

Morrison & Foerster LLP

One Big Beautiful Bill Expands Qualified Small Business Stock Exemptions

President Trump signed into law the One Big Beautiful Bill Act (the “Act”) on July 4, 2025 (the “Signing Date”). Among the Act’s significant tax extensions and changes to tax law are several taxpayer-favorable revisions to...more

Husch Blackwell LLP

Estate Planning and Other Tax Strategies under the One Big Beautiful Bill Act

Husch Blackwell LLP on

President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law on July 4, 2025. The OBBBA represents a significant overhaul of the U.S. tax system, making permanent many provisions of the 2017 Tax Cuts and Jobs...more

Bodman

One Big Beautiful Bill Act Reinforces and Enhances Qualified Small Business Stock Tax Savings – A Benefit for Prospective Startup...

Bodman on

The One Big Beautiful Bill Act (H.R. 1, 119th Cong § 70431 (2025)) (“Act”) was signed into law by President Trump on July 4, 2025, after narrowly passing the House on July 3, 2025....more

Goodwin

One Big Beautiful Bill Act - Tax Highlights Related to Real Estate Investors

Goodwin on

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA), which both extends many soon-to-expire provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) and makes several additional changes to the...more

Goulston & Storrs PC

Beyond the Bill: Key Tax Implications of the OBBB

Goulston & Storrs PC on

On July 4, 2025, the One Big Beautiful Bill Act (the “OBBB”) was signed into law, introducing a broad package of policy reforms, funding reallocations, and regulatory changes set to reshape the nation’s infrastructure,...more

Rivkin Radler LLP

Closely Held Businesses and Their Owners Ask: What’s Big and Beautiful in the Recent Tax Law?

Rivkin Radler LLP on

The “One Big Beautiful Bill Act” (the “Act”) was signed into law last week, on July 4. As promised by the White House, the Act extends – i.e., purports to make “permanent” – many of the otherwise expiring provisions that were...more

Holland & Knight LLP

One Big Beautiful Bill Act Increases Tax Benefits for Qualified Small Business Stock

Holland & Knight LLP on

President Donald Trump on July 4, 2025, signed into law H.R. 1, commonly referred to as the One Big Beautiful Bill Act (OBBB). (For a detailed analysis of the bill, see Holland & Knight's previous alert, "Trump Signs the One...more

McDermott Will & Emery

One Big Beautiful Bill Act brings major changes to Section 1202 capital gains exclusion

McDermott Will & Emery on

The recently passed One Big Beautiful Bill Act (OBBBA) makes significant and immediate changes to the tax rules surrounding qualified small business stock (QSBS) under Section 1202 of the Internal Revenue Code. These rules...more

Frost Brown Todd

One Big Beautiful Bill Act Enacts a Permanent Increase in the Estate and Gift Tax Lifetime Exclusion Amount for 2025 and Later...

Frost Brown Todd on

On July 3, 2025, and by a vote of 218 to 214, the U.S. House of Representative passed the Senate’s amended version of H.R. 1 (also known as the “One Big Beautiful Bill Act” or OBBBA 2025), which is the tax-and-budget...more

Hanson Bridgett

Timing is Everything for QSBS After the One Big Beautiful Bill Act

Hanson Bridgett on

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, establishes new phased-in benefits for Qualified Small Business Stock (QSBS) held for at least three years. ...more

Warner Norcross + Judd

One Big Beautiful Bill Enacts Important Health and Welfare Plan Updates

Warner Norcross + Judd on

On July 4, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBB), a sweeping piece of legislation that includes several provisions impacting employer-sponsored health and welfare benefit plans. The OBBB...more

Cozen O'Connor

Expansion of QSBS Benefits Under the One Big Beautiful Bill

Cozen O'Connor on

On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, which had narrowly passed through the United States Congress. The OBBBA makes permanent certain tax provisions that were due to expire...more

Foley & Lardner LLP

One Big Beautiful Bill Updates to Qualified Small Business Stock Rules under Section 1202

Foley & Lardner LLP on

As part of the newly enacted One Big Beautiful Bill Act (the OBBBA),[1] Congress adopted the first substantive amendments to Section 1202[2]–which prescribes the qualified small business stock (QSBS) rules–in over a decade...more

Foley & Lardner LLP

Trump Accounts: The New Child Savings Account Established Under the One Big Beautiful Bill Act

Foley & Lardner LLP on

On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBA). The OBBA established a new type of tax-advantaged savings account for minors, known as “Trump Accounts.” While the specific details of...more

Husch Blackwell LLP

One Big Beautiful Bill Act Expands Qualified Small Business Stock Exclusion

Husch Blackwell LLP on

On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act” into law. Among notable tax legislation, the act expanded the qualified small business stock exclusion, potentially making C Corporation tax status a...more

Gould + Ratner LLP

OBBB Act Brings Significant Changes to Section 1202 QSBS Gain Exclusion

Gould + Ratner LLP on

On July 4, President Donald Trump signed the One Big Beautiful Bill Act (“OBBB”) into law. Among many changes, the OBBB included an expansion of the qualified small business stock (“QSBS”) gain exclusion under Section 1202 of...more

Baker Botts L.L.P.

The "One Big Beautiful Bill Act" Substantially Alters Clean Energy Tax Landscape

Baker Botts L.L.P. on

On July 4, 2025, the legislation commonly known as the "One Big Beautiful Bill Act" (the “BBBA”) was enacted. The BBBA makes significant changes to the tax credits available under the Inflation Reduction Act of 2022 (the...more

Seyfarth Shaw LLP

7 Key Changes to the Qualified Opportunity Zone Incentive Under the One Big Beautiful Bill Act

Seyfarth Shaw LLP on

On July 4, President Trump signed into law H.R. 1, the One Big Beautiful Bill Act (OBBBA), a sweeping 870-page piece of legislation that introduces significant changes across various areas of federal policy. While full...more

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