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Assessing OBBBA: Tax Risk Management for Farms and Ranches

C. Rob Holcomb

Summary

The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, marks a substantial shift in the U.S. tax landscape, introducing nearly $13 trillion in new tax provisions. This session examines the law’s most consequential impacts on farm and ranch operations, with a focus on how producers and advisors can strengthen tax planning and long-term financial resilience.
Participants will review key provisions affecting agricultural businesses, including the permanent extension of the 20% Qualified Business Income Deduction (QBID) and the establishment of a $15 million individual estate and gift tax exemption—two changes with major implications for succession planning. The session also outlines significant updates to Section 179 expensing, now offering a maximum deduction of $2.5 million, and the permanent adoption of 100% bonus depreciation for property acquired after January 19, 2025.
Additionally, attendees will explore the new election available for farmland sales to qualified farmers. This provision allows sellers to recognize gain over four installments, provided the buyer maintains a 10 year farming commitment that meets statutory requirements.
This educational effort equips agricultural professionals with practical knowledge to help producers enhance cash flow, mitigate tax risk, and support the long term viability of farm and ranch operations under the new law.

Details

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