Middle Market Growth Conversations Inside the OBBBA's Tax Provisions
Sep 13, 2025
Join Donald Rawe, a tax compliance expert at Forvis Mazars, and Howard Wagner, a domestic tax policy specialist, as they explore the One Big Beautiful Bill Act's significant tax provisions. They delve into the complexities of interest deduction limits and bonus depreciation, discuss flow-through tax planning challenges, and uncover new opportunities in expanded Section 1202 gains exclusion. Their insights reveal strategies for entrepreneurs and investors to navigate the evolving landscape of private equity taxation.
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First Jobs Shaped Career Choices
- Donald started his first job pushing carts at Target and used it as motivation to excel academically.
- Howard delivered pizzas until a snowy accident ended that chapter and steered him to a professional career.
Interest Limits Shift Back To EBITDA
- Interest deduction limits returned to a cash-flow-focused 30% of tax EBITDA under OBBB, easing pressure on depreciation-heavy businesses.
- Complexity for passthroughs remains, especially around 163J carryforwards and partnership calculations.
Take Advantage Of Permanent 100% Bonus Depreciation
- Plan capital expenditures around the return of permanent 100% bonus depreciation and watch binding contract dates carefully.
- If building manufacturing facilities, confirm qualifying manufacturing use, meet construction windows, and watch a 10-year recapture rule.