New Tax Rules Have Been Set: Start Planning Now

Individual taxpayers faced significant tax planning uncertainty for the first six months of the year. Many provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) were scheduled to expire at the end of this year. However, after the […]

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QBI Deduction: How the OBBBA Improves the Rules

Many owners of pass-through businesses and self-employed individuals have taken advantage of the Section 199A qualified business income (QBI) deduction. Created by the Tax Cuts and Jobs Act (TCJA), this break was scheduled to expire after 2025, making its future […]

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IRS Releases Guidance on Changes to R&E Expensing

Among its numerous tax provisions, the One Big Beautiful Bill Act (OBBBA) reinstated immediate deductions for research and experimental (R&E) expenditures under Internal Revenue Code Section 174, beginning in 2025. The IRS has recently issued transitional guidance (Revenue Procedure 2025-28) […]

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New Tax Law Includes Major Changes for Homeowners

Several provisions of the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, will affect homeowners starting in 2025. These changes are important as you plan for the current tax year, because they may impact whether you […]

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Favorable Business Depreciation Tax Changes Under New Law

There's good news for businesses considering buying equipment and other capital assets: The One Big Beautiful Bill Act (OBBBA) dramatically improves first-year depreciation tax breaks. Here's what you need to know to take advantage. Learn more from the tax experts […]

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Marginal Well Tax Credit: Key Updates for 2025

Operators of marginal oil and gas wells continue to face narrow margins and fluctuating market conditions. To provide relief in lower price environments, the IRS offers the marginal well tax credit under Internal Revenue Code § 45I. Recent guidance establishes […]

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