New Information Return and Payroll Tax Reporting Rules Require Attention
October 21, 2025
The One Big Beautiful Bill Act (OBBBA) introduced or updated numerous business-related tax provisions. The changes that are likely to have a major impact on employers and payroll management companies … Continued
IRS Releases Guidance on Changes to R&E Expensing
October 06, 2025
Among its numerous tax provisions, the OBBBA reinstated immediate deductions for research and experimental (R&E) expenditures under Internal Revenue Code Section 174, beginning in 2025. The IRS has recently issued … Continued
How will the Changes to the SALT Deduction Affect Your Tax Planning?
September 04, 2025
The One Big Beautiful Bill Act (OBBBA) shifts the landscape for federal income tax deductions for state and local taxes (SALT), albeit temporarily. If you have high SALT expenses, the … Continued
What Taxpayers Need to Know About the IRS Ending Paper Checks
August 05, 2025
The federal government has announced a major change that will affect how numerous Americans receive their tax refunds and federal benefit payments. The U.S. Treasury Department, the IRS and the … Continued
The OBBBA Will Soon Eliminate Certain Clean Energy Tax Incentives
August 01, 2025
For some time, President Trump and the GOP have had their sights on repealing many of the tax incentives created or enhanced by the Inflation Reduction Act (IRA). With the … Continued
How will the One, Big, Beautiful Bill Act Affect Individual Taxpayers?
July 24, 2025
The One, Big, Beautiful Bill Act (OBBBA) includes, among many other things, numerous provisions that can affect an individual’s taxes. The new law makes some changes to existing tax breaks … Continued
The One, Big, Beautiful Bill Act Extends Business Tax Provisions
July 17, 2025
The One, Big, Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. For many businesses, the favorable provisions outweigh the unfavorable, but both kinds are … Continued
President Trump Signs His One, Big, Beautiful Bill Act into Law
July 09, 2025
On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). As promised, the tax portion of the 870-page bill extends … Continued
GASB Statement No. 101: Time to Update Your Compensated Absences Accounting
June 20, 2025
Posted by Michael E. Mast, CPA, CFE The era of GASB 16 is officially over! For state and local governments with fiscal years beginning after December 15, 2023, GASB Statement … Continued
It’s Benchmark Survey Season – What You Need to Know About the BEA’s BE-10 Filing Requirement for U.S. Direct Investment Abroad
May 27, 2025
We’re in another reporting year for the Bureau of Economic Analysis (BEA) Benchmark Survey on U.S. Direct Investment Abroad, and it’s time for individuals and businesses with foreign holdings to … Continued