The Impact of the One Big Beautiful Bill Act on Family Offices
Overview
Comprehensive changes to the U. S. Tax Code were made when the One Big Beautiful Bill Act (OBBB) was signed into law on July 4, 2025. Notably, the OBBB includes five provisions that have particular impact on single-family offices. With the OBBB declining to reinstate investment-related, miscellaneous itemized deductions, family offices should consider employing management company incentive structures to recoup the lost tax benefits. Family offices should also utilize the extended and expanded tax benefits for ultra-high-net-worth taxpayers.