November 14, 2025 On July 4, 2025, President Donald Trump signed the One Big Beautiful Bill Act (OBBBA) into law. This legislation includes numerous tax changes, particularly a significant update to Section 179 expensing election, which may greatly impact many taxpayers. Below, we outline the details of the changes of Section 179. Overview of Section 179 Section 179 expensing is applied before bonus depreciation under Section 168(k) . After applying Section 179 and bonu

October 27, 2025 Accrued expenses are liabilities that may appear on the balance sheets of companies that follow U.S. Generally Accepted Accounting Principles (GAAP). Many non-experts in accounting are unclear about which accrued expenses must be recognized and/or disclosed in a company’s financial statements under the accounting rules. These Q&As make accrued expenses easier to understand. What are accrued expenses? Accrual-basis accounting requires expenses to be recognized

September 22, 2025 When a corporation with net operating losses (NOLs) or other tax attributes undergoes an “ownership change” as defined...