Insights

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. 

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.

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.

Managing finances for a nonprofit organization means navigating one of the most complex compliance landscapes in the business world. While for-profit companies focus primarily on tax compliance and financial reporting, nonprofit finance managers must juggle federal and state tax-exempt requirements, grant compliance obligations, board governance standards, and specialized accounting rules – all while supporting the organization's mission with limited resources.

The reconciliation tax bill signed into law by President Trump on July 4 sets out sweeping tax changes, with many provisions of interest to the real estate industry. This Alert highlights the most important changes for the industry to focus on in tax planning. 

President Donald Trump signed into law a sweeping reconciliation tax bill, commonly known as the “One Big Beautiful Bill Act” (OBBBA) at a July 4 signing ceremony, capping a furious sprint to finish the legislation before a self-imposed Independence Day holiday deadline. The Senate had approved the bill in a 51-50 vote on July 1 after making a number of last-minute changes following intense bicameral negotiations. The House then voted 218- 214 on July 3 to send the bill to th

The One Big Beautiful Bill Act (OBBBA) represents the most comprehensive tax legislation in years, fundamentally reshaping the American tax landscape for individuals, businesses, and organizations across all sectors. With the bill now finalized, taxpayers face a complex array of changes that demand immediate attention and strategic planning.

The IRS on July 14 released initial explanations of the new deductions for tips, overtime pay, and auto loan interest, while pledging to quickly release more substantial guidance. The deductions are for individuals but have important implications for businesses. They are effective immediately for 2025. 

Every business decision has a tax impact - some obvious, some hidden. Understanding these implications before you act can save...

Pass-through entities, including partnerships, S corps, and LLCs, can benefit from tax advantages due to their structure.

The IRS recently released information about 2023 increases that may affect taxpayers. When planning for 2023, there are several things to...

The employee retention credit (ERC) has been one of the most beneficial forms of pandemic relief for the restaurant industry. However,...

The IRS on October 19 issued IR-2022-183, warning employers to be wary of promotions for the employee retention credit (ERC) that sound...

U.S. businesses are facing pressure to drive revenue, manage costs and increase shareholder value, all while surrounded by economic and...

With rising interest rates, inflation and continuing market volatility, tax planning is as essential as ever for taxpayers looking to...

The Internal Revenue Service (IRS) recently announced next year’s inflation adjustments, which are higher than average due to increased...

Proper planning is crucial for all taxpayers, but effective tax planning and strategy is a necessity when it comes to high-net-worth...

The IRS on August 23, 2022, announced it will grant automatic penalty relief for late-file penalties imposed with respect to certain...

Although it may seem overwhelming, estate planning doesn’t have to be a daunting or complicated process. Even if an estate’s assets are...