Insights: Article

On Friday, Aug. 12, the U.S. House of Representatives voted to pass the Inflation Reduction Act, after being passed by the Senate earlier this month. The bill is much smaller in size than what was proposed under the Build Back Better plan, but still includes some significant tax law changes. The bill includes tax law changes to raise revenue for the government, along with some tax deductions and credit changes. It also includes a provision for $80 billion in additional funding for the IRS.

Enrollment in America’s colleges and universities fell again in spring 2022. Enrollment declines have persisted since spring 2018 and the declines have only steepened.

When a property owner sells an asset that previously was used to offset ordinary income through depreciation, the gain is taxed through depreciation recapture.

As a new auditing standard becomes effective this year for most employee benefit plans, individuals charged with managing and administering plans should be aware of their responsibilities as plan fiduciaries.

We’ve all seen the recent unemployment numbers and heard employment projections from top officials. The struggle to identify, hire, and retain employees at all levels of the organization is very, very real, and it’s causing major issues for businesses. The labor shortage is not isolated to the State of Ohio – it’s happening everywhere and it’s affecting companies across all industries.

The multi-year delays in implementation of the new lease accounting standard are over and now it’s go time. This is it, and if your company or nonprofit has not yet started gathering the information necessary to properly report its lease obligations for 2022, there is no more time to waste.

In this article, we will examine the issues governments still face and will focus on the opportunities as we look to emerge from the COVID-19 pandemic.

sponsors are familiar with solutions like multiple employer plans (MEPs) and pooled employer plans (PEPs). But one of the least well-known plans may be the most effective solution for plan sponsors who are looking to cut costs and maintain local service and plan design flexibility – the “group of plans” arrangement.

ess is considering new options for cloud services, you are likely looking at Microsoft 365, the cloud-based platform for the ubiquitous Microsoft Office Suite.

As values of businesses, real estate, and investment portfolios continue to rise, now is the time to develop and implement an estate plan for taxpayers considering the future transfer of wealth.