INSIGHTS
We See Things Differently
When we’re not addressing clients’ needs for business and financial advisory, assurance or tax matters, we’re researching, learning and thinking about related subjects. Check out some of our thinking on a broad variety of topics that may impact your organization. And if you’d like to learn more about any of these topics, we’re always happy to talk.
What Businesses Should Plan for in 2025: Changing Inflation, Interest Rates, and Tax Policies
Learn what businesses should be planning for in 2025.
5 Ways for Businesses and Individuals to Make Tax-Efficient Investments
Learn about five tax-efficient investment strategies that could possibly benefit businesses and individuals.
Small Business Budget Guide: The Key to Successful Year-End Planning
This small business budget guide outlines how small businesses can plan wisely and grow stronger ahead of 2025.
Tax Credits vs Tax Deductions: What’s the Difference?
Two of the most common terms when doing taxes are “deductions” and “credits.” However, it can be challenging to differentiate between the two and how they influence your taxes. Here is a breakdown of the definitions of both terms and their key differences.
What Businesses Should Plan for in 2024: How to Navigate the Current Economic Landscape of Inflation and Interest Rates
We’re looking into the future and discussing what businesses should plan for 2024.
What Businesses Need to Know About the MarylandSaves Program
In September 2022, Maryland introduced the MarylandSaves program, which is designed to help businesses comply with both federal and state laws mandating that employers offer retirement savings for employees. Here’s what business owners need to know about this program, even if you already offer a retirement plan for employees.
TCJA Tax Benefits Phasing Out: What You Need to Know
When the Tax Cuts and Jobs Act (TCJA) was signed into law in 2017, the law made significant changes to the U.S. tax code, but those changes were always meant to be temporary. While some of those provisions have already expired, others will continue to phase out until 2027. Here are the notable tax benefits that are expiring soon.
TJCA Bonus Depreciation Has Started Phasing Out
When the Tax Cuts and Jobs Act (TCJA) was signed into law in 2017, it included many beneficial tax provisions for businesses. One of the most notable was an increase in the bonus depreciation allowance from 50% to 100%. However, the bonus depreciation allowance is scheduled to phase out over a period of four years, beginning in 2023.
The Inflation Reduction Act Signed into Law: How It Affects Taxes for Businesses
On Sunday, Aug 7, 2022, the Senate passed a $750 billion health care, tax, and climate bill called the Inflation Reduction Act. The bill outlines changes that could have tax implications, specifically for businesses. The bill still has to clear the House of Representatives before it is set in motion. Here is a breakdown of the bill’s tax implications if it is passed and signed into law.
IRS to Raise Mileage Rate for Rest of 2022
In the wake of elevated gas prices, the IRS is increasing the optional standard mileage rate for the remaining months of 2022. These rates allow businesses and self-employed workers to calculate the deductible costs of using personal vehicles for business.
How to Ask a Parent to Step Down from Leading the Family Business
There comes a time when the patriarch or matriarch of your family business is no longer the best fit to lead the organization. This can be a delicate topic, especially if your family member does not want to let go of their position. The path to successfully transitioning leadership starts with succession planning.
