OBBBA Deep Dive: Bonus Depreciation, Qualified Property, and Strategic Planning

1.5 CPE Credit Hours

The One Big Beautiful Bill Act (OBBBA) introduces complex rules that directly impact cooperative tax planning. This session delivers the latest guidance and translates it into practical applications with concrete illustrations. You’ll explore Qualified Deduction Property, including qualified production property, bonus depreciation, construction timelines, effective dates, and carve-outs. Bonus depreciation rules and other election provisions will also be covered, giving tax and accounting professionals the tools to navigate compliance, optimize deductions, and make strategic planning decisions under current law.

Presenter and Moderator Bios

Presenter: David Antoni, CPA, Tax Managing Director, Baker Tilly US

Dave Antoni serves as a National Tax Managing Director, Baker Tilly, providing technical expertise in taxation of Cooperatives and ASC 740, Accounting for Income Taxes.  Serving in the Food, Beverage, and Agribusiness Practice, Dave provides tax consulting, compliance, and audit tax provision services for our cooperative and non-cooperative enterprises clients on a national basis.  Dave has significant experience in the application of ASC 740 to Cooperatives and non-cooperative private and public company enterprises.  He has extensive experience with inbound and outbound multi-national companies and coordinates service delivery building client service teams of specialists including accounting methods, tax credit services, compensation and benefits, international tax, M&A, state and local tax, valuations, and transfer pricing services.  Dave works with management and boards on tax cooperative considerations for capital planning and bylaws provisions, private letter rulings, and advises cooperatives on tax issues such as IRC §199A(g), §163(j), application of new tax legislation including the Pillar 2 global minimum tax and tax accounting methods.

Dave’s professional accounting experience with Baker Tilly and previously with KPMG spans over 39 years and 35 years serving cooperatives as a focus area.

Education
Dave holds a Bachelor of Science degree in Business Administration (cum laude) from La Salle University, Philadelphia, Pennsylvania, where he concentrated in Accounting and Computer Science and was a member of the Beta Alpha Accounting Society.  Dave also has completed several graduate level tax courses in Villanova University School of Law’s Master of Science in Taxation program.

Professional Affiliations
Dave is a Past National President of the National Society of Accountants for Cooperatives (NSAC), NSAC Executive Committee Member, Past National Board Member of NSAC’s Atlantic Chapter and serves as Immediate Past Chair and Member of its National Tax Committee.  He is also a Member of the Legal, Tax & Accounting (LTA) Committee of the National Council of Farmer Cooperatives (NCFC), has served as Past Chair and Member of LTA’s Executive Committee. Dave also serves as a Vice-Chair of the LTA Reporting Subcommittee on Overview of New Tax, Other Legislation and Implementation Issues Affecting Farmer Cooperatives. He is a member of the American Institutes of Certified Public Accountants.  Dave is a frequent speaker concerning tax issues related to cooperatives at annual meetings of NCFC and the NSAC and contributes articles to the Tax Fax Column of NSAC’s The Cooperative Accountant publication.  Dave co-hosts the annual Baker Tilly Agribusiness Cooperative Roundtable.

Presenter: Nicholas Falk, CPA, Senior Manager, RSM US, LLP

Nick Falk is a Senior Manager with RSM US, LLP and has over 21 years of experience in providing tax compliance and consultation services to various private sector entities. He has a deep understanding of taxation of partnerships and corporations including partnership capital account maintenance. He is also a subject matter expert in subchapter T and section 521 cooperatives.

In his current role, Nick delivers advice and consultation regarding complex taxation matters, manages engagement teams, and prepares tax research and tax positions.

Professional affiliations and credentials

• Certified public accountant
• American Institute of Certified Public Accountants
• Minnesota Society of Certified Public Accountants
• National Society of Accountants for Cooperatives

Education

• Bachelor of Business Administration, accounting, University of Wisconsin–Whitewater

Moderator: Wayne Sine, CPA, MBA, Education Director, National Society of Accountants for Cooperatives

After retiring as Tax Director of a regional supply cooperative on the East Coast, Wayne Sine was asked to serve as Education Director for NSAC. As an active and long-term member of NSAC, Wayne previously served as Chair of NSAC’s Tax Committee, President of the Atlantic Chapter, and was a recipient of NSAC’s Silver Bowl Award. In addition to his work with NSAC, Wayne has also served on the Legal, Tax, and Accounting (LTA) Committee of the National Council of Farmer Cooperatives, Chaired the Tax Committees for both the Virginia Chamber of Commerce and the Virginia Manufacturers Association, served on the Tax Policy Committee of the Virginia Society of CPAs, and served as Region Vice President for Tax Executives Institute.