Divorce is stressful under any circumstances, but for business owners, the process can be even more complicated. Your business ownership interest is often one of your largest personal assets, and in many cases, part or all of it will be considered marital property. Understanding the tax rules that apply to asset division can help you avoid costly surprises.
For many nonprofits, grants are a lifeline—fueling programs, projects, and operations. But receiving the funds is only half the story. Proper recognition and allocation are essential to maintain compliance, ensure transparency, and preserve eligibility for future funding.
If you own an unincorporated small business, you may be frustrated with high self-employment (SE) tax bills. One way to lower your SE tax liability is to convert your business to an S corporation.
The One Big Beautiful Bill Act (OBBBA), signed on July 4, 2025, brings sweeping tax changes that will touch nearly every corner of the nonprofit sector. While there are a few bright spots, much of the legislation introduces new costs, tighter rules, and more reporting requirements.
The One, Big Beautiful Bill Act (OBBBA) contains a major overhaul to an outdated IRS requirement.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 raises the threshold for information reporting on certain business payments from $600 to $2,000. Beginning in 2027, the threshold amount will be adjusted for inflation.
As we approach the halfway point of the year, now is the perfect time for business owners to take a deep dive into their financial health. A mid-year review isn’t just a best practice—it’s a strategic opportunity to catch issues early, recalibrate your goals, and proactively position your business for a stronger year-end.
New law slashes clean vehicle tax credits—here’s what you need to know (and do) before September 30th.
After months of debate, the One Big Beautiful Bill Act (OBBBA) has become law, bringing sweeping changes to the U.S. tax code for both individuals and businesses. Below is a breakdown of a few of the most significant provisions, along with actionable planning insights. We will be providing a much deeper dive into this bill in the coming weeks.
When a conditional contribution becomes unconditional, it’s time for your organization to recognize it as revenue. But that’s not the end of the story—another critical question follows:
The Senate is currently in a marathon “vote‑a‑rama” phase, reviewing hundreds of amendments to the “One Big Beautiful Bill” (OBBBA) passed by the House in May. That means significant changes remain possible before a final Senate vote—expected this week—followed by a return to the House and, ultimately, the President’s signature.
