Insights

With the passing of the One Big Beautiful Bill Act (OBBBA), the Federal Reserve cutting interest rates, and inflation showing signs of moderating, tax planning remains as important as ever for taxpayers seeking to manage cash flows and reduce their tax liabilities over time.

The tax function is under increasing pressure. Legislative changes and new disclosure rules will make accounting for income taxes more complex and challenging.

State and local tax (SALT) issues consistently rank among the top concerns of tax and finance professionals.

Human capital challenges remain at the forefront as private companies look to retain and attract talent and leverage tax rules to efficiently offer competitive equity and benefit programs.

The current trade environment is marked by rapid and often unpredictable changes, posing significant challenges for businesses.

Transfer pricing is consistently one of the top tax issues facing multinational public companies.

International tax planning is becoming both more complex and more important.

With all the challenges facing private companies this year, it's critical that they leverage every available tax benefit.

Over the last several years, the IRS has been ramping up its scrutiny of partnership tax positions. Part of this effort included comprehensive basis shifting guidance issued in the summer of 2024. In 2025, the trend toward increased partnership enforcement eased under the new administration, which has withdrawn the bulk of the basis shifting guidance.

The current capital markets environment remains marked by volatility, persistent inflationary pressure, and structurally higher interest rates. Companies are facing less predictable financing windows, with higher cost debt and volatile equity valuations.

From Survive to Thrive: Private companies find themselves navigating a tax landscape marked by rapid change and increasing complexity. The wave of legislative, economic, and technological developments over the past year has created novel challenges. It's not enough to merely survive.

Regardless of whether your private company is taxed as a C corporation at the 21% rate or organized as a pass-through, the rules for calculating and recognizing income have changed significantly. The One Big Beautiful Bill Act (OBBBA) makes major changes to research expensing, bonus depreciation, and the limit on the interest deduction.

Professional services businesses operate in a unique financial environment that combines the complexities of client-based revenue, partnership structures, and professional regulations. Whether you're managing a law firm, consulting practice, or healthcare facility, the financial challenges you face differ significantly from traditional businesses – and require specialized expertise to navigate successfully.

The White House on March 25, 2025, issued Executive Order 14247, “Modernizing Payments To and From America’s Bank Account.” The executive order states that effective September 30, 2025, to the extent permitted by law, the Secretary of Treasury will cease issuing paper checks for all federal disbursements, which includes tax refunds. 

As nonprofits navigate a complex landscape shaped by economic volatility, delayed government reimbursements, philanthropic shifts, and increasing service demands, maintaining operational continuity requires more than reactive budgeting. It requires a forward-looking financial strategy— one grounded in resilience, liquidity, and the flexibility to respond to risk. At the heart of this strategy is the net operating reserve (NOR).

State tax laws are evolving rapidly, with broadening nexus standards, shifting apportionment rules, aggressive enforcement tactics, and growing divergence from federal standards. As a result, companies operating across multiple U.S. states face an increasingly complex state tax compliance landscape.

In light of current political volatility, economic uncertainty, donor realignment, and rapid technological change, traditional models of nonprofit governance may no longer be sufficient for your organization.

The Treasury Department has released crucial guidance on one of the most talked-about provisions in recent tax legislation - the "no tax on tips" deduction from the One Big Beautiful Bill Act. This development represents a significant opportunity for workers in tip-based industries, but like most tax changes, the details matter enormously.

The construction industry is facing unprecedented financial challenges as we move through 2025. From evolving tariffs and rising material costs to new tax legislation, construction companies are grappling with a complex web of economic factors that demand strategic financial planning and expert guidance.

Real estate and construction companies are on the precipice of a dramatic shift. Artificial intelligence (AI), particularly agentic AI, will permanently change how the industry does business, streamlining functions from back-office administration to logistics, data-heavy tasks, and more.