By Amanda M. Ziehm, Staff Accountant The One Big Beautiful Bill (OBBB) brings sweeping tax changes to U.S. businesses. Below is a quick look at some of the key changes: Qualified Business Income Deduction Section 199A was set to expire after 2025, which is a 20 percent deduction for qualified business income. The QBID has […]
The One Big Beautiful Bill, signed into law on July 4, 2025, makes a cost segregation study for your business real estate worth looking into. Read here what a cost segregation study is and why it may be an important tax activity for your business.
Chock full of information about the “One Big Beautiful Bill” (OBBB) that was signed into law on July 4, 2025. How might this sweeping new law impact your business, or impact your personally? Read more here. Bonus: We’ve also prepared a special add-on to our newsletter about how the OBBB can make a cost segregation […]
While many of us were busy firing up the grill, gathering with family and friends, and looking forward to fireworks in celebration of Independence Day, something significant was happening in Washington. On Friday, July 4th, as the holiday festivities were underway, the President signed into law the long-anticipated tax legislation known as the One Big […]
Our new newsletter prepared especially with our Small Business clients in mind is available for you to read. It’s a big issue – seven pages! – full of important and good-to-know information that all small businesses – and all businesses, in fact – need to know to keep operating smoothly and profitably. We hope you […]
Captive Insurance: History and Overview of the use of Alternative Risk Transfer Strategies from Financial and Tax Perspectives The use of captive insurance by businesses, as a way to reduce insurance costs and develop alternative revenue streams, is becoming increasingly popular. Presented by our captive insurance expert, Mike Baritot, MST, Of Counsel, provides an overview […]
Please see below for a communication from the Financial Crimes Enforcement Network (FinCEN) that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act. U.S. businesses or U.S. individuals who may have already completed and filed a BOI report do not need to […]
In late December 2024, two new laws were signed by President Biden which reduced the reporting burden under the Affordable Care Act (ACA) for employers and group health plans titled the Paperwork Burden Reduction Act (PBRA) and the Employer Reporting Improvement Act (ERIA). Under the ACA, applicable large employers (ALEs), which are those with 50 […]
The Social Security Fairness Act was signed into law on January 5, 2025, and ends the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). These provisions reduced or eliminated the Social Security benefits of over 3.2 million people who were receiving a pension based on work that was not covered by Social Security (non-covered […]
Form 1099-K, “Payment Card and Third-Party Network Transactions” is an information return that reports the gross amount of reportable transactions to the Internal Revenue Service (IRS). Payment card transactions are those transactions processed using credit cards and debit cards. Third-Party Network transactions are those transactions processed by a central organization that has a contractual obligation […]