With year-end approaching, it's time for businesses to proactively plan for and execute on tax opportunities to help ease their 2025 tax burden. New this year is the One Big Beautiful Bill Act (OBBBA), which contains numerous tax law extensions as well as new provisions that may be impactful....
Read MoreHonoring our firm’s decades-long tradition, I was fortunate to serve as editor of the 2025 August Tax Clinic edition of the AICPA’s Tax Adviser. Each year we author articles that focus on high-complexity, high-impact areas of the tax code to help clarify these technical topics for the...
Read MoreOhio House Bill 96 signals a significant state tax restructuring effort is underway. The bill repeals several longstanding, impactful sales tax exemptions.
Read MoreOBBBA imposes five key provisions set to reshape tax strategies for high-net-worth individuals. Understanding the implications is extremely important.
Read MorePosted by Jon Williamson and Stephen FisherOn July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, altering the tax landscape for the near and long-term. Much like the 2017 Tax Cuts and Jobs Act (TCJA), the impact of the OBBBA is dependent on each taxpayer’s...
Read MoreOn July 4, 2025, the One Big Beautiful Bill Act (OBBBA) became law and will have a significant impact on the real estate industry in particular. Key areas include the preservation of full deductibility for business state and local taxes, permanent extension of the 20% deduction for pass-through...
Read MoreThe One Big Beautiful Act (OBBBA), signed into law on July 4, 2025, is one of the more comprehensive tax reform packages in recent years. It makes several temporary provisions from the Tax Cuts and Jobs Act (TCJA) permanent, introduces new deductions, and impacts how businesses and individuals...
Read MoreOn July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBBA) into law after it narrowly passed in the Senate (51-50) and House (218-214). While the new law may have only narrowly passed, it will have widespread impact for almost every taxpayer. From its extension of Tax Cuts...
Read MoreThe One, Big, Beautiful Bill (TOBBB) made more progress this past week as the Senate Finance Committee released its draft tax provisions to be included in the bill. While the Senate’s version is similar to the House version passed in May, key distinctions and certain provisions are still...
Read MoreDuring the recent legislative session, Washington’s state legislature passed multiple bills, which the governor signed into law on May 20, 2025. The various legislation aims to help address an estimated $16 billion dollar deficit for the state over the next four years. Specifically, Senate...
Read MoreOn April 7, 2025, Maryland passed the Budget Reconciliation and Financing Act of 2025 (House Bill No. 352), making several significant tax changes effective during 2025 and 2026. Specifically, HB 352 will impact many Maryland taxpayers through the creation of a new sales tax on specified...
Read MoreThe 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 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 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 MoreOn June 7, 2023, Illinois Governor J.B. Pritzker signed into law Senate Bill 1963, significantly changing the state’s qualified investment partnership provisions. Specifically, the law modifies the definition of “investment partnership” and “qualifying investment...
Read MoreAs the critical Wayfair decision from 2018 continues to unfold in terms of its implications, sales and use tax audits have skyrocketed as states look to recapture critical revenues. If your business is selected for a sales and use tax audit, understanding the process will help you minimize any...
Read MoreOn May 10, 2024, Tennessee Governor Bill Lee signed into law Senate Bill No. 2103, significantly changing the Tennessee franchise tax computation. Specifically, SB 2103 eliminates the Tennessee property measure, Schedule G, of the franchise tax effective for tax years ending on or after January 1...
Read MoreA constantly changing tax landscape — from the Marketplace Fairness Act and various uniformity projects, to Wayfair and the digital economy — continues to alter the course of business as usual when it comes to staying compliant with state and local taxes. The current environment has...
Read MoreThe early years of a startup are challenging as you navigate financing, hiring, development and managing operations. If state tax considerations are one of the last things on your business’ to-do list, you’re not alone. With the finite resources that come with starting a company from...
Read MoreIt’s always important for companies to keep abreast of the revolving door of changes to state and local tax compliance. It’s critical not only to ensure they are keeping up and avoiding penalties, but also looking for any potential opportunities. Our recent webinar offered a...
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