As the end of the year draws near, savvy taxpayers look for ways to reduce their tax bills. This year, the sense of urgency is higher for many because of some critical factors. Indeed, many of the Tax Cuts and Jobs Act provisions are set to expire at the end of 2025, absent congressional action. […]

President-Elect Donald Trump will return to the White House in 2025 — a year that already was expected to see significant activity on the federal tax front. A projected unified GOP Congress is poised to help him notch early legislative tax victories. The most obvious legislative win will likely be the extension and expansion of […]

The outcome of the November 5 election is likely to significantly impact taxes. Many provisions in President-elect Donald Trump’s signature tax legislation from his first time in the White House, the Tax Cuts and Jobs Act (TCJA), are scheduled to expire at the end of 2025. Now, there’s a better chance that most provisions will be […]

In today’s world, business owners face increasing challenges in protecting their company’s assets. The headaches business owners deal with can include anything from cyberattacks, natural disasters, theft of money, inventory theft, or worse, theft of trade secrets. What is a trade secret? A trade secret can be any proprietary information (e.g., customer lists, business plans, […]

The IRS has issued its 2025 inflation-adjusted contribution amounts for retirement plans in Notice 2024-80. Many retirement-plan-related limits will increase for 2025 — but less than in prior years. Thus, depending on the type of plan you have, you may have limited opportunities to increase your retirement savings. Type of Limitation 2024 Limit 2025 Limit Elective […]

The IRS has issued its 2025 inflation adjustment numbers for more than 60 tax provisions in Revenue Procedure 2024-40. Inflation has moderated somewhat this year over last, so many amounts will increase over 2024 but not as much as in the previous year. Take these 2025 numbers into account as you implement 2024 year-end tax planning […]

Given this year’s active hurricane season, now is the time to review your business interruption plans and take action. Business Interruption Insurance, often referred to as Business Income Insurance, is a type of coverage that provides for replacement of lost income in the event of a covered loss. Based on our prior experiences with covered […]

ESG is a three-pronged reporting framework that stands for Environmental, Social and Governance. Manufacturing companies may be expected to use this framework when measuring and reporting on their ESG commitments using standards adopted by relevant authorities. While multiple entities set the reporting framework for ESG internationally, in the United States, it is primarily the Securities […]

Hurricane Milton has caused catastrophic damage to many parts of Florida. Less than two weeks earlier, Hurricane Helene victimized millions of people in multiple states across the southeastern portion of the country. The two devastating storms are among the many weather-related disasters this year. Indeed, natural disasters have led to significant losses for many taxpayers, […]

Early voting for the 2024 election has already kicked off in some states, but voters are still seeking additional information on the candidates’ platforms, including their tax proposals. The details can be hard to come by — and additional proposals continue to emerge from the candidates. Here’s a breakdown of some of the most notable […]