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IRS Updates Procedural Guidance on Section 174 Accounting Method Changes for Taxable Years Beginning in 2024

Rev. Proc. 2025-8, issued on December 17, 2024, provides modified procedural guidance that expands...

President Trump’s tax plan: What proposals are being discussed in Washington?

President Trump and the Republican Congress plan to act swiftly to make broad changes to the United...

Evaluating When to Mitigate Risk with Your Pension Plan

Approximately 46,500 defined benefit pension plans existed as of 2022, according to the Employee...

Accounting Challenges and Opportunities in Chapter 11 Bankruptcy

Filing for Chapter 11 bankruptcy can bring a new lease on life for a struggling company. During...

Standing Out at Construction Tradeshows: A Guide for Industry Leaders

As a CPA specializing in construction accounting for over two decades, I've witnessed firsthand the...

Sales of IRA Tax Credits Entail Special Tax Accounting Considerations

Taxpayers either purchasing or selling certain federal income tax credits under the Inflation...

How Construction Companies Can Plan for Success, Failure, and Change

As a CPA specializing in construction accounting, I want to share important insights from a recent...

U.S. Supreme Court Upholds Section 965 Transition Tax

In a 7-2 decision, the U.S. Supreme Court on June 20 upheld as constitutional the Internal Revenue...

Risk Management and Resilience: Navigating Uncertainties

Risk isn’t static. With novel threats continuously emerging, internal and external pressures that...

Estate of Fry: Tax Court Rules for Taxpayer on Related-Party Advances

A recent Tax Court opinion has garnered attention with respect to the treatment of certain...