In recent legislative developments, the Omnibus Budget Reconciliation Bill for 2025 and Beyond (also known as the One Big Beautiful Bill Act, or OBBBA) has introduced significant tax provisions, some tailored to benefit seniors, ensuring they receive enhanced support in managing their financial and tax responsibilities. Key among these changes is a new deduction available …..

The State and Local Tax (SALT) deduction allows taxpayers to deduct either their state and local income taxes or their state and local sales taxes, in addition to property taxes, on their federal income tax returns when they itemize deductions. This deduction has long been a staple in the tax code, designed primarily to mitigate …..

On July 4th, the President signed into law the so-called “One Big Beautiful Bill” Act (OBBBA), a significant piece of legislation that ushers in a plethora of tax provisions designed to impact taxpayers across the spectrum. Though the act introduces measures that stretch beyond this year, our focus here narrows to changes coming into effect …..

Pursuant to an executive order signed on March 25, 2025, the federal government will phase out paper checks for all federal disbursements, including tax refunds, and will no longer accept paper checks for payments, such as taxes owed. The Treasury will be moving to electronic payment and refund methods. This change aims to reduce costs, …..

On July 4, 2025, H.R.1, also known as the “One Big Beautiful Bill” was signed into law. This budget reconciliation bill permanently extends the 2017 Tax Cuts and Jobs Act (TCJA) provisions and introduces new tax incentives for 2025 and beyond. Below are the key tax changes and TCJA extensions. Please see the enclosed handouts …..

As global trade policies continue to shift, tariff-related uncertainty remains a critical issue for manufacturing executives—particularly Chief Operating Officers (COOs), who are charged with managing supply chains, cost structures, and long-term resilience. While some manufacturers are lobbying for product exemptions or weighing cross-border production strategies, others are actively assessing how tariffs impact their competitive positioning …..

The recent shift in presidential tariffs policy is expected to stimulate growth in U.S. manufacturing. While this anticipated surge is welcome news for the sector, it also exposes a critical weakness: a growing talent gap and an urgent need for workforce enablement. As production ramps up, manufacturers face increasing difficulty hiring, training, and retaining the …..

As manufacturers continue embracing digital transformation, they’re also becoming prime targets for increasingly sophisticated cyberattacks. From smart machinery and cloud-connected systems to widespread use of the Internet of Things (IoT), manufacturers are operating in an era where convenience and innovation come with significant risk. Heading into 2025, it’s more critical than ever for companies in …..

By Al Nafea In 2025, emerging tech like AI, 3D modeling, drones, and VDC is helping small contractors boost productivity, cut costs, and thrive in a changing construction industry. Technology is improving productivity and profitability for small contractors as the building industry continues to change. Technological advancements are sweeping across all industries at a staggering …..

By Evan Milberg The US construction industry has an unusual balance of optimism and unease. Here are five of the biggest economic and technological trends to help contractors navigate the current climate. It’s a bit of a weird time to be a general contractor in the US. On one hand, the Trump administration has vowed …..

Tariffs on construction materials have been rising steadily, putting significant pressure on contractors and trades. Higher material costs can quickly erode profit margins, delay projects, and even lead to disputes over unexpected price increases. To survive and thrive despite these challenges, contractors need proactive strategies to mitigate the impact of tariffs on their businesses. Here …..

By Erica Linguanti   The digital landscape of 2025 is evolving at a rapid pace, presenting unique challenges for nonprofit professionals. To stay ahead of the curve, nonprofits must continuously adapt and refine their strategies. What worked in the past, may not work in the future!   For example, while social media platforms remain a …..

As we move into 2025, nonprofit organizations face increasing competition for donor attention and support. To stay ahead, nonprofits must adapt to evolving marketing trends that drive engagement, build relationships, and amplify their mission. Research indicates that it can take 18–20 points of contact to reach a new donor, underlining the importance of a multi-channel, …..

The start of a new year presents an opportunity for nonprofit leaders to reflect on the past year’s achievements and challenges. Assessing organizational successes and areas for improvement is essential for making strategic adjustments that enhance future success. Below, 20 members of the Forbes Nonprofit Council share insights gained from their experiences in the nonprofit …..

By  Travis Carey, CPA and Amy West, CPA Chief financial officers (CFO) of not-for-profit (NFP) organizations face many challenges today, especially workforce issues. Foremost is the inability to recruit and retain employees because of extraordinarily tight budgets. A large percentage of an organization’s expenses is related to personnel, making it difficult for nonprofits to compete for talent against …..

The deductibility of meal expenses for employers and business entities is a nuanced area of tax law that requires careful consideration of various rules and exceptions. This article explores the intricacies of meal expense deductions, focusing on when the 50% deductibility rule applies, exceptions to this rule, and strategies for planning around these limitations. The …..

You’ve hit your 40s or 50s, and suddenly, retirement doesn’t feel like a distant mirage. The countdown is on. But here’s the good news: You’re in a prime position to play catch-up and fortify your future, using smart tax strategies to stretch your dollars further. Think of it as turning your financial cruise control into …..

The dreaded moment arrives: you check your mail, and there it is—a letter from the IRS. Your heart sinks. What could it be? A mistake? A penalty? A request for missing information? If this sounds familiar, you’re not alone. During filing season, the IRS sends out millions of notices, often leaving taxpayers confused, stressed, and …..

Nathan Wechsler & Company is excited to announce the addition of Matthew J. Sawyer as a Senior Manager.  He performs work for a diverse range of clients, focusing on auditing, accounting, consulting and special projects. “We are pleased to welcome Matthew Sawyer to our team,” said Kelli D’Amore, Managing Director of Nathan Wechsler & Company. …..

The Corporate Transparency Act, enacted in 2021, introduced a critical federal reporting requirement to combat illicit finance in the United States. Effective January 1, 2024, many U.S.-based companies must file Beneficial Ownership Information (BOI) reports with the Financial Crimes Enforcement Network (FinCEN). Here’s an overview of what this means for your business. What Is BOI …..