BLS Insights

The U.S. Senate and House of Representatives have passed the Inflation Reduction Act (IRA). President Biden is expected to sign the bill into law shortly. The IRA includes significant provisions … Continued

The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The amount of first-year depreciation available … Continued

You may have already heard, but we wanted to send a reminder that the IRS increased the standard mileage rate for qualified business driving for the second half of 2022. … Continued

Back in late 2019, the first significant legislation addressing retirement savings since 2006 became law. The Setting Every Community Up for Retirement Enhancement (SECURE) Act has resulted in many changes … Continued

The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships and … Continued

The Financial Professional’s Role on a Nonprofit Board by Jonathan D. Moll, CPA – Director of Nonprofit Services – was published in the Accounting for Success Column of the Winter … Continued

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect … Continued

Welcome to BLS Insights! In an effort to streamline our communication to our contacts in a more user friendly way, we have merged two of our blogs, A Matter of … Continued

A common area of confusion among organizations is how to handle old outstanding checks on bank reconciliations. Many states have reporting requirements regarding unclaimed property (including uncashed checks). Depending on … Continued

The House version of the Build Back Better Act, residing in the Senate for consideration, contains a variety of provisions that we discussed in a previous blog, U.S. House Passed … Continued