OBBBA Tax Shake-Up & Top 10 Risks Oregon Businesses Could Face

• 5 :00 - 5:45 PM : Drinks, Dinner & Networking
• 5 :45 - 6:45 PM : "OBBBA Tax Shake-Up" presented by Kurt Muramatsu, Senior Tax Manager, & Andrea Potter, State & Local Tax Manager, Geffen Mesher
• 6 :45 - 7:00 PM : Dessert & Networking Break
• 7 :00 - 8:00 PM: "Top 10 Risks Oregon Businesses Could Face In 2026" presented by Paul Quandt, Senior Vice President: Commercial Insurance, HUB International

On July 4th, 2025, the One Big Beautiful Bill Act was signed into law, encompassing a sweeping number of provisions. Our focus will be on the direct impact to businesses, with a deep dive into several critical provisions including Section 174 research and development (R&D) expensing, the return of 100% bonus depreciation with a new qualifying asset category, changes to percentage of completion method for residential construction, and the Section 163(j) business interest expense limitation. In addition, we will also provide a brief update on recent changes to Washington State Business & Occupation (B&O) tax and expansion of Washington State sales tax. By the end of this session, you’ll have a clear understanding of how these changes may affect your business operations, tax planning, and strategic decisions going forward.

Key Takeaways

• Section 174 R&D Expensing – The Act restores immediate expensing for domestic research and development costs with various options for expensing costs previously capitalized under the prior rules.
• 100% Bonus Depreciation & Qualified Production Property – A full expensing provision returns, now expanded to include a new asset class — qualified production property — which could significantly benefit manufacturers.
• Residential Construction & the Percentage of Completion Method – Changes to the accounting method for long-term residential projects may alter revenue recognition timelines and tax liabilities for builders and developers.
• Section 163(j) Business Interest Expense Limitation – Revised rules around interest deductibility could affect financing strategies, especially for highly leveraged companies.
• WA Business & Occupation (B&O) Tax Adjustments – Modifications to rates and classifications that may affect gross receipts reporting.
• Expansion of WA Sales Tax to Professional Services – Several service-based business activities previously exempt are now subject to sales tax — a shift with compliance and pricing implications.

About Kurt Muramatsu:

With over seven years of experience in public accounting, primarily serving real estate clients, Kurt Muramatsu brings a unique blend of analytical precision and industry insight to every engagement. Holding a degree in Manufacturing and Industrial Engineering from Oregon State University and an Accounting Certificate from Portland State University, Kurt combines technical acumen with financial expertise to deliver strategic solutions tailored to complex portfolios.

Outside the office, Kurt finds harmony in music. A dedicated trumpet player, he performs with various groups across the Portland Metro area, including the Beaverton Community Band and Light Opera of Portland.

About Andrea Potter:

Andrea Potter joined Geffen Mesher in 2019 as a member of the firm’s dedicated State & Local Taxation (SALT) team. In addition, she also works with our Transaction Advisory Services (TAS) team. Originally from Denver, she made the move from the Midwest to Oregon after previously managing the Indirect Tax Department at a national CPA firm.

In her ten years of experience prior to joining Geffen Mesher, Andrea cultivated expertise in indirect tax, specializing in sales & use tax, payroll tax, employment credits, and SALT audit defense on a national level allowing Andrea to provide multi-state tax compliance. In addition to SALT, Andrea also provides her indirect tax knowledge advising clients through mergers and transactions within our TAS team for transactions within the lower middle- market.

Join the Portland Chapter of the Institute of Management Accountants (IMA) for an in-depth presentation on the current state of the economy, labor market, and demographic trends in the Portland area. Our expert speaker will provide valuable insights into employment trends, industry growth and decline, wage dynamics, and population changes that are shaping the regional economic landscape.

• Understand Oregon's recent economic and labor market information to help business leaders project and plan for the future.
• Review Portland's job growth, unemployment rates vs historical rates, and our structural labor challenges.
• Impact of inflation and rising cost of living in Portland and Oregon as a whole

About Paul Quandt:

Paul is a senior commercial lines insurance executive within HUB International’s Northwest region and has developed a strong reputation as a high energy and risk-reducing focused specialist. Prior to becoming an agent, he oversaw risk services of 7 western states for a national insurance carrier, designing cost-effective risk reduction programs.

In 2015 Paul joined HUB International, a top 5 global brokerage. Today, he is primarily focused on companies that carry risk; those that view quality loss control & safety programs as a necessity, whether it’s large fleet, complex liability, heavy manufacturing, pollution exposure, or complicated management liability.

His background in risk management makes him uniquely qualified to review his clients’ coverage and safety programs, assisting them in not only making sure they are well covered in the event of a loss, but also reducing the likelihood of a loss by putting risk services in the forefront.

Paul is a member of HUB’s Education, Transportation, Forest Products and Complex Risk industry verticals.

He is proud of his dedication to continuing education, having earned certifications as a CIC, CLCS, and the prestigious CFPS.

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