2025 Tax Reform

Codified tax breaks provide policy certainty. The newly passed "One Big Beautiful Bill" Act extends core elements of the 2017 Tax Cuts and Jobs Act while codifying several key tax provisions into permanent law, including 100 percent bonus depreciation, the Qualified Business Income deduction and Low-Income Housing Tax Credits. The legislation provides measured support rather than dramatic stimulus, yet reinforces real estate's tax-advantaged status by preserving established tools like 1031 exchanges and carried interest treatment. By making many provisions permanent, the legislation creates a more stable framework for long-term tax planning and investment allocations. The policy timing is particularly favorable for commercial real estate, as tax benefits can help investors manage higher borrowing costs.

 Key Features Include:

• Overview of key policy provisions and their impact on investor sentiment 
• Analysis of specific tax incentives and their effect on property markets
• Discussion of fiscal tradeoffs, economic outlook and investment implications