Alternative Minimum Tax: What You Still Need to Know
The alternative minimum tax (AMT) is a separate federal income tax system that bears some resemblance to the regular federal income tax system. The ...
The New Law Includes a Game-Changer for Business Payment Reporting
The One, Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement. Beginning with payments made in 2026, the new law ...
How Will the Changes to the SALT Deduction Affect Your Tax Planning?
The One Big Beautiful Bill Act (OBBBA) shifts the landscape for federal income tax deductions for state and local taxes (SALT), albeit temporarily. ...
What Businesses Need to Know About the New Depreciation Rules
The "One Big Beautiful Bill Act" (OBBBA) includes several favorable changes for small business taxpayers. Among the most impactful are expanded and ...
R&E Deductibility May Return Under New Bill
The treatment of research and experimental (R&E) expenses is a high-stakes topic for U.S. businesses, especially small to midsize companies ...
Federal Action on Paying College Athletes Wanted
Since the NCAA began allowing college athletes to profit from their Name, Image, and Likeness (NIL) in 2021, athletes across the country have been ...
IRS Releases Tax Inflation Adjustments for Tax Year 2025
The IRS has announced the annual inflation adjustments for tax year 2025, as outlined in Revenue Procedure 2024-40. These adjustments will impact ...
IRS Changes Let You Keep Cash in Your 401(k) Longer
The IRS recently published new regulations for taxpayers subject to the "10-year rule" for required minimum distributions (RMDs) from inherited IRAs ...
Navigating the New Section 174 Rules: Amortizing R&E Expenditures
The Tax Cuts and Jobs Act of 2017 introduced significant changes to Section 174 of the Internal Revenue Code, affecting how businesses handle ...