In a 2024 National Association of Manufacturers (NAM) survey, 93% of respondents who operate as pass-through entities stated that the impending expiration of the Section 199A qualified business income (QBI) deduction would negatively impact their ability to grow,...

Before the One Big Beautiful Bill Act (OBBBA), tip income and overtime income were fully taxable for federal income tax purposes. The new law changes that. Tip income deduction For 2025–2028, the OBBBA creates a new temporary federal income tax deduction that can...

Once an organization reaches a certain size, it’s difficult to compete for talent and retain employees without sponsoring a qualified retirement plan. However, the costs of doing so can be intimidating, and plan administration might seem overwhelming. Let’s explore...

At back-to-school time, much of the focus is on the students returning to the classroom — and on their parents buying them school supplies, backpacks, clothes, etc., for the new school year. But teachers are also buying school supplies for their classrooms. And in...

By purchasing stock in certain small businesses, you can diversify your investment portfolio. You also may enjoy preferential tax treatment, some of which is getting even better under the One Big Beautiful Bill Act (OBBBA) that was signed into law in July: Qualified...

“Where did it all go wrong?” If you’ve been in the construction business a while, you may have asked yourself this question when a claim by a project owner or some other party lands on your desk. Although there’s probably no way to completely eliminate the risk of...

The One Big Beautiful Bill Act (OBBBA) introduces a new — but temporary — tax break for manufacturers. The qualified production property (QPP) allowance gives manufacturers a strong incentive to make capital investments in new production facilities. Here’s what you...

The Family and Medical Leave Act generally requires private sector employers with 50 or more employees to provide 12 weeks of unpaid leave to eligible employees for qualifying reasons. The key word there is “unpaid.” Providing paid family and medical leave is up to...

It’s been about a month since the One, Big, Beautiful Bill Act (OBBBA) was signed into law. Now that the dust has settled, construction business owners and their leadership teams can begin to really pinpoint the provisions most pertinent to their operations. Here are...

Under current federal income tax rules, so-called personal interest expense generally can’t be deducted. One big exception is qualified residence interest or home mortgage interest, which can be deducted, subject to some limitations, if you itemize deductions on your...

Successful manufacturers have the ability to navigate various changes, whether positive or negative. On the positive side, potentially, are tax law changes enacted under the One, Big, Beautiful Bill Act (OBBBA). Perhaps the most important changes for manufacturers are...

Does your organization sponsor Health Savings Accounts (HSAs) for its employees? Or are you considering a high-deductible health plan (HDHP) with HSAs for your 2026 benefits package? Either way, the recent enactment of the One, Big, Beautiful Bill Act (OBBBA) brings...