On July 4, 2025, President Trump signed the One Big Beautiful Bill Act (OBBB) into law, enacting one of the most comprehensive tax packages since the Tax Cuts and Jobs Act of 2017. The legislation introduces permanent structural reforms to…
New Reporting Requirements for Distributions of Securities from Investment Partnerships
Written by: Jon Nelson, CPA, MST The IRS has recently released Form 7217, “Partner’s Report of Property Distributed by a Partnership,” as well as the accompanying instructions, reflecting a new reporting requirement for partners in investment partnerships, among others, for…
The “One Big Beautiful Bill” Signed Into Law—Major Tax and Policy Changes Now Official
On July 4, President Trump signed the much-anticipated “One Big Beautiful Bill Act” (OBBB) into law, following approval by both the Senate and the House of Representatives. This sweeping legislation permanently extends and reshapes many provisions of the 2017 Tax…
Proactive Tax Planning for Expanding Businesses
Growth is exciting as a business owner, but it also brings added complexity to your tax situation. Expansion may mean hiring new staff, entering new markets, or investing in new assets. Without proper planning, these changes can increase your tax…
What’s in the “One Big Beautiful Bill Act”?
On May 22, 2025, the U.S. House of Representatives passed the “One Big Beautiful Bill Act” (H.R.1), a sweeping proposal to extend or modify several tax provisions originally enacted under the 2017 Tax Cuts and Jobs Act (TCJA), many of…
The 65-Day Rule: A Strategic Tax Planning Tool for Trusts
In trust taxation, the timing of distributions can significantly influence tax outcomes, particularly for complex trusts. The “65-day rule” is a key provision that allows trustees to optimize tax planning. This rule enables trustees of complex trusts to treat distributions…
Section 83(b) Made Easy: What the New IRS Form Means for You
Written by: Eric Gashin, CPA, MBA If you’ve ever received stock or other property as part of your compensation, you might have heard of the Section 83(b) election. This election allows you to include income and pay the tax in…
What the IRS Inflation Adjustments for 2025 Mean for You
Every year, the IRS adjusts tax rules to account for inflation. These changes are meant to ensure fairness and prevent people from paying more taxes solely because of rising costs. For 2025, the IRS has updated tax brackets, deductions, credits,…
Tax Planning Tips for Digital Businesses and E-commerce
Tax planning for digital and e-commerce businesses brings unique challenges and opportunities. Effective tax management can be tricky with diverse revenue streams, cross-border sales, and constantly evolving regulations. Here’s a guide to navigating the tax landscape and making the most…
Navigating Tomorrow: Year-End Tax Strategies for Business Owners
As we near year-end, proactive tax planning becomes more crucial than ever for businesses and family offices with complex tax portfolios. While 2024 hasn’t brought significant legislative tax changes, foundational tax strategies remain invaluable. With potential transactions and evolving state…