OBBBA One Year Later: Key Tax Developments and Planning Considerations

Article

Review how OBBBA evolved during its first year through new guidance, implementation updates and planning considerations.

8 minute read

July 1, 2026

Sean Muller

Partner-in-Charge, Specialty Tax Services
National Market Leader, Private Equity

Thomas E. Bazley

Managing Director, National Tax Office

Dawn Rhea

Partner, National Tax Office

Laura Roman

Partner-in-Charge, National Tax Office

Mark Watson

Partner, National Tax Office

Robert Henry

Partner-in-Charge, Tax Provisions

Blake Fuqua

Partner-in-Charge, State and Local Tax

Weaver Capital Advisors

Never miss a thing.

Over the past year, the impact of The One Big Beautiful Bill Act (OBBBA) has continued to unfold. Policy changes and implementation dynamics have created ripple effects across taxpayers and businesses, prompting many to reassess planning strategies and financial outlooks. As we look ahead, the insights captured in this review highlight the key developments, challenges and opportunities shaping tax planning and compliance in the years to come.

Stay ahead of what’s next by revisiting key insights on OBBBA one year after its passage and what it means moving forward.

Bonus Depreciation Changes/Phase-Down Rules

OBBBA significantly reshaped the landscape for capital investment by expanding depreciation incentives, restoring favorable treatment for certain research expenditures and introducing new considerations for production-related investments. As the Treasury and the IRS continue to issue guidance, taxpayers are evaluating how these changes affect fixed asset strategies, prior elections and long-term capital planning.

Trump Accounts

One of OBBBA’s most widely discussed provisions was the introduction of Trump Accounts, creating a new tax-advantaged savings vehicle for eligible individuals and families. Since enactment, additional guidance has clarified account eligibility, contribution rules and planning considerations, helping taxpayers better understand how these accounts may fit into broader financial and wealth planning strategies.

Section 174 R&Ds

The treatment of research and experimental expenditures has remained a focal point for taxpayers since the implementation of mandatory capitalization requirements. OBBBA introduced meaningful relief, including opportunities for retroactive planning and expanded expensing options, while subsequent guidance has provided additional clarity on implementation and compliance considerations.

Interest Limitation Rules Under Section 163(j)

OBBBA revisited several aspects of the business interest expense limitation rules under Section 163(j), creating new planning opportunities and considerations for businesses with significant debt structures. Since passage, taxpayers have continued to monitor guidance affecting real property elections, interest deductibility calculations and the broader impact of financing decisions on taxable income.

SALT Cap Changes

Changes to the state and local tax deduction cap continue to influence planning decisions for individuals, pass-through entities and closely held businesses. OBBBA modified key SALT provisions, prompting taxpayers to reassess deduction strategies, entity structures and the interaction between federal and state tax obligations.

Qualified Business Income

OBBBA provided long-term certainty for many business owners by extending the Section 199A qualified business income deduction. The extension preserves a significant tax benefit for eligible pass-through entities and sole proprietors, while reinforcing the importance of evaluating entity structure and income planning strategies.

Extension of Section 199A QBI Deduction

International Tax

The international tax provisions included in OBBBA have prompted multinational organizations to revisit existing structures, cross-border operations and export planning strategies. As companies assess the implications of the legislation, many are reevaluating how global tax positions align with evolving business objectives and regulatory requirements.

Energy Credits

OBBBA introduced substantial changes to energy-related tax incentives, affecting developers, investors and businesses participating in renewable and alternative energy markets. Subsequent guidance has clarified the treatment of key credits, including 45Z, while changes to solar, wind and other energy incentives continue to shape project economics and investment decisions.

Other Changes

In addition to its broader business and tax provisions, OBBBA included several targeted measures affecting individual taxpayers and employer-sponsored benefits. Changes involving car loan interest, tip income and employer-provided meal facilities have created new compliance considerations while offering planning opportunities for certain taxpayers and businesses.

Reflecting on OBBBA’s First Year

OBBBA did not stop evolving when the legislation was signed into law. Over the past year, additional guidance and implementation updates have shaped how taxpayers apply many of its most significant provisions. Whether you are evaluating capital investments, tax credits, international operations or individual planning opportunities, understanding these developments can help inform decisions moving forward. Contact Weaver’s tax professionals to discuss the opportunities and considerations most relevant to your situation.

OBBBA One Year Later: What Changed, What Matters, What’s Next

The tax landscape continues to evolve one year after The One Big Beautiful Bill Act (OBBBA), with corporate, individual and energy-related provisions now actively influencing planning decisions across industries. As guidance develops and practical challenges emerge, taxpayers are assessing how these changes impact strategy, compliance and future opportunities.

Join Weaver on-demand for a three-session series examining how OBBBA is being applied in practice and what organizations and individuals should prioritize moving forward.

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