The House of Representatives’ reconciliation bill — The One, Big, Beautiful Bill (TOBBB) — took another step forward this past week when the House Budget Committee advanced the bill by a vote of 17-16. TOBBB will now go to the House Rules Committee, where changes are expected...
Read MoreCongratulations on the purchase of your new property! Whether this is your first time in the commercial real estate market or your team’s 100th acquisition, the fun really begins the day after the purchase, at least for your accounting team.As your asset management team moves on to the next...
Read MoreThe Cohen & Co team recently returned from the DealMax conference in Las Vegas where representatives of just about every firm involved in the deal world converged to talk M&A. According to event sponsors, over 3,200 professionals attended, representing firms responsible for deploying over...
Read MorePosted by Amber DiulusThere are many different trusts available as a part of estate planning, each constructed in different ways to be the most tax advantageous depending on you and your family’s situations and assets. Two types of trusts, Irrevocable Life Insurance Trusts (ILITs) and...
Read MoreAs a start-up company in the technology sector, you likely will encounter a range of complex accounting and tax challenges due to the fast-paced nature of the industry, ongoing product development, and the distinct ways companies in this space are structured and financed. These factors can all...
Read MorePosted by Dale Hazzard and Hannah PrenglerBeginning January 1, 2025, Pennsylvania requires nearly all types of domestic and foreign entities located or doing business in Pennsylvania to file an annual report. Below highlights what your business needs to know.1. Which Entities Must File an Annual...
Read MoreOn March 21, 2025, FinCEN issued an interim final rule removing the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) under the Corporate Transparency Act (CTA). The CTA was passed in 2021 to enhance transparency and combat illegal financial...
Read MoreOur Trust & Taxes 101 series explains how Electing Small Business Trusts can be useful to business owners in passing their S Corporation onto beneficiaries.
Read MoreTechnology and life science companies often have aggressive growth strategies centered on scalable software or products. To achieve their ambitious goals, these companies typically require multiple rounds of investment capital, sourced from friends and family, angel investors and venture capital...
Read MoreCohen & Co is proud to announce Angela Bacarella-Wood has joined the firm's Detroit, Michigan, office as an assurance partner.Angela brings nearly 25 years of assurance experience in a variety of areas. Her in-depth background includes both private and public company audits, large...
Read MoreThe estate tax exemption is set to drop significantly after the Tax Cuts and Jobs Act (TCJA) provisions expire at the end of 2025. And while the results of the November 2024 election mean it’s possible those tax provisions could be extended with 2025 legislation, it’s also possible...
Read MoreNOTE: As BOI regulations continue to evolve, please see our BOI Reporting Resource Center for the most up-to-date reporting deadline information. After delayed deadlines and much uncertainty, Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA)...
Read MoreImagine a world where Artificial Intelligence (AI) drives your business to new heights. This isn't a distant dream — it's happening now as AI is revolutionizing industries across the globe. Yet, many companies are still on the sidelines, unsure how to begin their AI journey. In this...
Read MoreGovernor Gretchen Whitmer recently bolstered her commitment to businesses with the enactment of Public Acts 186 and 187, which establish a Michigan research and development (R&D) tax credit. This new legislation incentivizes innovation, growth and investments within the state, allowing for an...
Read MoreThis past year certainly kept business and individual taxpayers on their toes. Beneficial ownership information (BOI) reporting topics overwhelmingly took precedence for our blog readers. Grant audits — a specialized financial audit many organizations find themselves facing after receiving...
Read MoreSince its implementation on January 1, 2019, the FASB Accounting Standards Codification (ASC) 606 has significantly impacted how privately owned software and Software-as-a-Service (SaaS) companies recognize revenue. Six years later, in 2025, these businesses continue to grapple with the...
Read MoreIn June of 2024 the Supreme Court unanimously decided in Connelly v. United States that a corporation’s contractual obligation to redeem shares is not necessarily a liability that reduces a corporation’s value for purposes of the federal estate tax. Further, the Court stated that the...
Read MoreAs we near the end of 2024 and look ahead to 2025 and the years to come, it is more important than ever to be thinking strategically about tax planning, particularly as we are still uncertain about the fate of the many provisions of the Tax Cuts and Jobs Act (TCJA) of 2017.Below are important...
Read MoreDespite the recently concluded political elections, taxpayers continue to have uncertainty regarding potential future tax changes. The impact of these elections, the potential sunset of many individual provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) and a more aggressive tax enforcement...
Read MoreGoing through a financial statement audit can sound like a daunting task, especially if your company has never been audited before. Why are we being audited? What does the process entail? What do we do once the audit is complete?These are all valid and common questions asked by first-time audited...
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