The One Big Beautiful Bill Act (OBBBA) marks the most sweeping overhaul of the tax code since 2017, reshaping rules across personal and business income, education, healthcare, and credits. To help you stay ahead of the curve, Think Outside the Tax Box is proud to share our Quick Reference Guide, designed to keep you and your clients informed, prepared, and proactive.

The Senate just passed the most significant SALT deduction changes since 2017, and most tax professionals are missing the real opportunity. While everyone's celebrating the increase from $10,000 to $40,000, there's a hidden tax trap that creates effective marginal rates exceeding 45% -- and that's your biggest planning goldmine.

Buried in the middle of the One Big Beautiful Bill Act (OBBBA) is a small section with huge tax savings for multifamily developers – expansion of the 460(e) revenue recognition method exceptions. Previously only available to smaller construction contractors, the new law opens up a potential windfall for larger scale developers.

The SALT cap has been one of the most argued pieces of the One Big Beautiful Bill Act as it has been making its way toward passage. Actually, tax professionals and politicians have been talking about the SALT cap (and looking for ways around it) since it was enacted as part of the Tax Cuts and Jobs Act. As most of you are aware, most TCJA provisions were set to expire at the end of 2025, including the SALT cap. We take a look at where they stand now.

Overpaying on taxes puts a damper on anyone’s mood. You should be paying precisely what you owe—no less, and no more. When it comes to selling your real estate, you really don’t have to pay taxes on that sale right away. One way to avoid the taxes is by using a Section 1031 exchange, but you actually have other options. This article will show you how to take advantage of them.

The Tax Court docket has been inundated with syndicated easement cases. In 2024, the IRS was mostly winning. That trend has continued in 2025. So far there have been three IRS wins. Here they are.

With the sale of a client’s primary residence, many tax professionals are familiar with the Section 121 exclusion, which allows taxpayers to exclude up to $500,000 ($250,000 for single - $500,000 for married filing jointly) on capital gains for the sale. Often, the only criteria mentioned is that the taxpayer must have owned and occupied the home for two of the most recent five years. However, this barely scratches the surface of Section 121; there’s much more money-saving potential in this portion of the tax code.

The concept of cost segregation began in the 1960s, when taxpayers argued specific components of real estate had a shorter life than the depreciation tables allowed (39 years for commercial property and 27.5 years for residential real estate). After decades of legal cases, the IRS provided rules and safe harbors in 1996 and 2002. Taxpayers now can use cost segregation and remain compliant with IRS regulations. The real question now is: Does a cost segregation study really reduce a taxpayer’s liability? And if so, by how much?