Photo by Marco Oriolesi on Unsplash Introduction Since 1993, U.S. tax law has quietly served as a powerful engine for entrepreneurship, creating a system that incentivizes investors to bet on emerging startups. That year, Congress added Section §1202 to the Internal Revenue Code (IRC), allowing investors to exclude a portion of their capital gains from selling stock in qualifying startups, known as Qualified Small Business Stock (QSBS). The One Big Beautiful Bill Act of 2025 (OBBBA) has...