Calcular el impacto de la gran y atractiva ley sobre oportunidades de inversión en propiedades y pequeñas empresas

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, has reshaped the U.S. tax code with sweeping provisions aimed at boosting real estate and small business investment. By introducing permanent tax incentives, expanding depreciation allowances, and reinvigorating opportunity zones, the bill has created a seismic shift in capital allocation strategies. This analysis unpacks how these changes are driving structural economic shifts and unlocking new opportunities for investors.

Real Estate: A Tax-Driven Renaissance

The OBBBA's most transformative provisions for real estate center on 100% bonus depreciation for qualified properties placed in service after January 19, 2025. This allows developers to immediately expense building systems, equipment, and interior improvements, effectively reducing taxable income and improving cash flow. For value-add projects like industrial retrofits or office conversions, this provision turns capital expenditures into near-term tax deductions, making such ventures more financially viable.

Another game-changer is the expansion of the Low-Income Housing Tax Credit (LIHTC) program, which now allocates 12% of annual credits (up from 9%) to affordable housing developments. Coupled with a new Fast-Track Permitting Fund to expedite federal environmental reviews, this creates a tailwind for developers targeting underserved markets.

. Meanwhile, opportunity zones (OZs) have been made permanent, with rural investments now eligible for a 30% basis step-up and rolling 10-year zone designations. These changes provide long-term stability for investors, though stricter compliance requirements-such as penalties for noncompliance-add complexity.

Small Business: Fueling Growth Through Tax Certainty

For small businesses, the permanent 20% qualified business income (QBI) deduction for pass-through entities offers critical tax certainty. This is particularly impactful for real estate professionals and small business owners reliant on pass-through structures, as it enhances after-tax returns and supports reinvestment.

The bill also raises Section 179 expensing limits to $2.5 million (indexed for inflation) and extends 100% bonus depreciation for property placed in service through 2029. These provisions reduce tax burdens for small businesses investing in equipment or real estate-related purchases, such as HVAC systems or construction tools. Additionally, domestic R&D costs can now be expensed retroactively for 2022–2024, allowing small businesses to amend past returns and recoup cash flow.

Structural Shifts: Capital Flows and Long-Term Trends

The OBBBA's incentives are already redirecting capital toward sectors with high depreciation and tax optimization potential. In real estate, industrial and affordable housing are prime beneficiaries. The 100% bonus depreciation for nonresidential properties used in manufacturing or production could spur domestic industrial development, while LIHTC expansion aligns with growing demand for affordable housing.

For small businesses, the R&D expensing retroactivity and increased Section 179 limits are likely to accelerate capital investment in innovation and infrastructure. The permanence of QBI deductions also reduces uncertainty for pass-through entities, encouraging entrepreneurship and long-term planning.

However, structural risks persist. Higher-income taxpayers face phase-out thresholds for many deductions (e.g., $150,000 for joint filers), which could limit benefits for wealthier investors. Additionally, the OBBBA's emphasis on compliance for OZ investments may deter smaller players.

Investment Strategies in the OBBBA Era

1. Real Estate: Prioritize value-add projects in industrial, manufacturing, or affordable housing sectors where depreciation and LIHTC benefits are maximized.
2. Small Business: Target pass-through entities in R&D-heavy industries (e.g., tech, clean energy) to leverage retroactive R&D deductions and QBI benefits.
3. Opportunity Zones: Focus on rural zones with the 30% basis step-up, but ensure strict compliance to avoid penalties.

Conclusion

The OBBBA has redefined the investment landscape by creating a tax environment that rewards capital deployment in real estate and small business sectors. While structural shifts are still unfolding, the bill's emphasis on depreciation, R&D, and affordable housing signals a long-term trend toward tax-driven economic growth. Investors who align with these incentives-while navigating compliance hurdles-stand to gain significant advantages in the post-2025 era.