My Take on Trump’s “One Big Beautiful Bill” and What It Means for Real Estate Investo

[William Thompson]

When I first read through the details of Trump’s newly signed tax legislation—the so-called “One Big Beautiful Bill”—my initial reaction was: this changes the playbook for real estate investors in a big way.

Here’s what stood out to me:

1.⁠ ⁠SALT Deduction Relief

For years, my clients in places like California, New York, and New Jersey have been capped hard on their state and local tax deductions. Now, with the new $40K cap (through 2029), many of them will finally breathe a little easier. That’s real money back in their pockets.

2.⁠ ⁠Estate Tax Exemption Jump

This one floored me—the estate tax exemption shoots up to $15M per individual ($30M per couple), indexed for inflation. For investors building generational wealth, this is a game changer. I’ve already started sketching strategies with clients on how to take advantage of this window.

3.⁠ ⁠Boost for Affordable Housing & Expensing

The bill expands the Low-Income Housing Tax Credit (LIHTC) and keeps capital expensing front and center. If you’re in development or rehab, this could open some doors. But…

4.⁠ ⁠Clean Energy Takes a Hit

On the flip side, some of the clean energy incentives are being rolled back. That stings for those of us pushing sustainable rehabs—it may mean higher upfront costs or fewer credits to lean on.

My Bottom Line:

This isn’t just another tax tweak—it’s a strategic reset. If you’re buying, selling, or even just holding right now, the way you structure your deals and plan your taxes today could save (or cost) you thousands over the next few years.

I’ll be diving deeper into this with clients, but I wanted to share my first reaction here.

*What do you think—does this bill feel like a win for real estate investors, or are you cautious about what’s missing?

— William Thompson

Real Estate CPA & Tax Strategist