From accelerated expensing to revamped Qualified Small Business Stock rules, the OBBBA has shifted both the numerator (cash flows) and the denominator (risk and discount rates) of the valuation equation. The result is a more dynamic environment—one with fresh opportunities, but also new pitfalls. With the passage of the One Big Beautiful Bill Act (OBBBA), valuation professionals and business owners alike find themselves working under a new spotlight. The law, signed on July 4, 2025, reshapes the tax landscape in ways that directly alter the assumptions embedded in business valuations. From accelerated expensing to revamped Qualified Small Business Stock (QSBS)…
