Business Reporting Burden Eased As a result of a provision in the One Big Beautiful Bill Act, an administrative reporting burden for businesses has been eased. For 2025 and prior years, businesses had to issue ...
HM&M Accounting, Audit and Assurance*, & Tax Blog
If you’d like to benefit your favorite charities while creating an income stream for yourself or a loved one, consider incorporating a charitable remainder trust (CRT) into your estate plan. It can reduce the size ...
For manufacturers planning to build new facilities or expand their existing plants, last year’s One Big Beautiful Bill Act (OBBBA) introduced a powerful new tax incentive. Over the next several years, manufacturers may immediately expense ...
In theory, when you sell stocks or mutual fund shares, calculating your gain or loss for tax purposes is simple: It’s the difference between the sale price and your cost basis. In practice, however, it ...
Cash and noncash donation deductions in 2026 The new year brings changes that affect how taxpayers think about charitable contributions of all kinds. You may have heard that the One Big Beautiful Bill Act allows ...
Everyone should have an estate plan — including single people with no children. For married couples, the law generally assumes that one spouse will make financial and medical decisions if the other spouse dies or ...
The One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, restored the more favorable pre-2022 limit on business interest expense deductions. That’s good news for many businesses, particularly those in capital-intensive industries, ...
Most married couples assume they should file joint income tax returns, and, usually, that’s the right choice. But under certain circumstances, filing separate returns may offer benefits. Bear in mind that the differences between married ...
What could happen if you don’t file your taxes? If you’re required to file a tax return but don’t, the IRS might step in and file one for you. That’s rarely in your favor. This ...
The alternative minimum tax (AMT) resembles the regular federal tax system, but it has a different purpose. It’s intended to ensure that people with certain types of income still pay taxes, even if they otherwise ...
As the end of the year approaches, many people begin thinking about philanthropy. While planning your charitable giving, be sure to consider the potential impact of the One Big Beautiful Bill Act (OBBBA), signed into ...
Over a certain amount, payments made in the course of a trade or business must be reported to the payees and to the IRS, using a specific form. The recently enacted One Big Beautiful Bill ...