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 […]

Throughout the past several weeks, manufacturers have begun seeing signals that the U.S. economy is beginning a new economic cycle. The economy overheated after robust growth following the COVID-19 pandemic, accelerating inflation. The Federal Reserve launched several rate increases to combat the inflation in March 2022. With inflation trending toward the Fed’s target, the consensus […]

Watch our interview with Partner Jon Powell as he discusses cybersecurity threats and the controls businesses can implement to help protect themselves.

Closely held businesses have long used company-owned life insurance policies to facilitate the repurchase of ownership interests of deceased owners. However, a recent Supreme Court ruling may have substantial succession planning and estate tax implications for those who employ this strategy. On June 6, 2024, the Supreme Court ruled in Connelly v. U.S. (“Connelly”) that […]

As mergers and acquisitions begin to pick back up, buyers and sellers should not lose sight of potential debt-like items that can significantly impact net proceeds from a sale and post-close cash flows. What Is a Debt-Like Item? Transactions are typically structured on a cash-free and debt-free basis, meaning the seller pays off all outstanding […]

In April 2024, the Federal Trade Commission (FTC) approved a final rule prohibiting most noncompete agreements with employees. The ban was scheduled to take effect on September 4, 2024, but ran into multiple court challenges. Now the court in one of those cases has knocked down the rule, leaving its future uncertain. The FTC Ban […]