The One, Big, Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. For many businesses, the favorable provisions outweigh the unfavorable, but both kinds are likely to impact your tax planning. Here are several provisions included in the new law that may influence…more
President Trump signs the One, Big, Beautiful Bill On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). As promised, the tax portion of the 870-page bill extends many of the provisions of the Tax Cuts and Jobs…more
Summer Business Travel: What Expenses Are Tax Deductible? If you’re a small business owner or self-employed professional planning summer business trips, understanding which travel expenses are tax deductible is essential. With current IRS rules and potential tax law changes, it’s more important than ever to stay informed and…more
The U.S. House of Representatives passed its sweeping tax and spending bill, dubbed The One, Big, Beautiful Bill Act (OBBBA), by a vote of 215 to 214. The bill includes extensions of many provisions of the Tax Cuts and Jobs Act (TCJA) that are set to expire on…more
Successful companies use key performance indicators (KPIs) to stay on top of their finances. Guess what? Construction companies can — and should — do the same. Let’s break down some of the most important KPIs every contractor should know and track. ________________________________________ Profitability Metrics Want to know if…more
President Trump’s “Liberation Day” announcement of global tariffs caught businesses, as well as foreign countries and worldwide financial markets, off guard. While the president has long endorsed the imposition of tariffs, many businesses expected him to take a targeted approach. Instead, Trump rolled out a baseline tariff on…more
The confusion surrounding the Corporate Transparency Act’s beneficial ownership information (BOI) reporting requirements continues in 2025.
If you’ve been a victim of a federally declared disaster in past years, you may be eligible for benefits under the Federal Disaster Tax Relief Act.
What tax proposals could be in play during President Trump’s first 100 days in office?