You might’ve seen a headline about a “Big Beautiful Bill” and thought it was campaign chatter. But this legislation—it’s real, impactful, and especially important for Nevada homeowners. Officially, it’s the One Big Beautiful Bill Act (H.R.1, Public Law 119‑21), signed into law on July 4, 2025 (1).

The Real Moves—Here’s What Changed

• Mortgage Interest Deduction Cap ($750K) This limit was introduced by the Tax Cuts and Jobs Act of 2017 and is now made permanent under OBBA. High-cost market? Finally, certainty. Source: National Mortgage Professional permanent cap confirmed (2).
• 100% Bonus Depreciation Restored For qualifying property acquired on or after January 19, 2025, OBBA permanently restores 100% bonus depreciation—resetting it from the previous phase-down schedule. Source: Stinson LLP tax breakdown (3) plus Baker McKenzie extension commentary (4)
• Clean Energy Credits Phased Out Credits previously available under the Inflation Reduction Act for solar panels, efficient HVAC, etc., begin to phase out after December 31, 2025. The clock is ticking if you’re counting on them. Source: Kiplinger “Ask the Editor” Q&A about the Act’s effects for homeowners (5)

Why Vegas Buyers and Sellers Should Care

• Sellers: If you’re marketing efficiency upgrades, acting before the phase-out gives you a distinct advantage.
• Buyers: Aggressive mortgage structuring matters less if you hit the $750K cap. And with the standard deduction increased, itemizing may not even make sense anymore.
• Investors: That restored 100% depreciation? It supercharges early-year returns—if you lock in early enough.

Timeline Snapshot

• January 19, 2025 — Qualifying property acquisition triggers 100% bonus depreciation. (3) (4)
• July 4, 2025 — OBBA is signed into law, locking in mortgage and AMT provisions. (1)
• December 31, 2025 — Deadline to claim many clean energy tax credits before sunset. (5)
• 2026 and beyond — OBBA replaces uncertain Treasury sunsets with a new, stable baseline.

The Bottom Line

OBBA isn’t just another tax law, it’s a strategic shift. For Vegas, every dollar counts and timing is everything. The mortgage interest cap is set, depreciation is aggressive again, and home-efficiency incentives are on a countdown.

Want to leverage this with your next move? Grab the Vegas Buyer’s OBBA Playbook, because navigating this market without it? That’s risky.

Disclaimer: This content is for general informational purposes only. It does not constitute legal or tax advice. Please consult a licensed tax professional for your specific situation.

Citations

(1) U.S. Congress, H.R.1 — One Big Beautiful Bill Act, enacted July 4, 2025. (https://www.congress.gov/bill/119th-congress/house-bill/1) (2) Internal Revenue Service, “Publication 936: Home Mortgage Interest Deduction,” IRS.gov, accessed 8/19/2025 https://www.irs.gov/publications/p936 (3) “One Big Beautiful Bill Explained,” Stinson.com, {July 8, 2205] (4) Baker McKenzie, “United States: Provisions in the One Big Beautiful Bill Act That Encourage Domestic Investment,” Insight Plus, [July 29, 2025]. https://insightplus.bakermckenzie.com/bm/tax/united-states-provisions-in-the-one-big-beautiful-bill-act-that-encourage-domestic-investment (5) “Ask the Editor: July 17 Tax Questions on the New Tax Law,” Kiplinger, July 17, 2025. https://www.kiplinger.com/taxes/tax-law/ask-the-editor-july-17-tax-questions-on-the-new-tax-law