Lower rates, higher deductions, and revised itemized rules are among the significant changes for individual taxpayers under the One Big Beautiful Bill Act (OBBBA), signed on July 4, 2025. This article outlines the key updates and their implications for future tax planning.
The One Big Beautiful Bill Act introduces significant updates to both the state and local tax (SALT) deduction and the qualified business income (QBI) deduction. Understanding how the expanded SALT cap and permanent QBI deduction apply to individual taxpayer’s situation is essential for effective tax planning.
This article will provide a brief summary of the tax provisions in the OBBBA that impact businesses and will be followed by articles diving deeper into certain business provisions of the OBBBA to provide a more comprehensive overview with planning opportunities.
The One Big Beautiful Bill Act (the “OBBBA”) is landmark legislation passed on July 4, 2025 that has significant implications for individuals. The OBBB is comprehensive tax legislation and includes key changes to individual tax related provisions and incentives. Navigating these changes is complex, but understanding them is essential for effective tax planning.
The administration of Trade, Business & Fictitious Names (“DBA”) registrations in Delaware will be transitioning as of February 2nd , 2026. DBA Registrations will now be done through Division of Revenue through an online process and will apply statewide.
Making sense of U.S. taxes is no small feat—especially when you’re living across borders, juggling green cards, dual citizenships, and tax treaties. Whether you’re a globe-trotting entrepreneur, a recent immigrant, or an advisor guiding international clients, understanding the intricacies of U.S. income and transfer tax residency rules is essential.
Since the adoption of the Corporate Transparency Act (the “CTA”) in 2021, there has been ongoing discourse around the constitutionality of the beneficial ownership information reports (the “BOIR”) rule given the resulting burden for smaller entities and privacy concerns.
It is hard to imagine an area of the law that impacts people more than Wills and Trusts. Death impacts everyone, and so does
In Aroeste v. United States, the U.S. District Court of the Southern District of California held Mr. Aroeste is not liable for the penalties for alleged violation of the Report of Foreign Bank and Financial Accounts (FBAR) because he was a US Nonresident as determined by Article 4 of the United States-Mexico Tax Income Treaty (the Treaty) and therefore, was not required to file FBAR.
Christopher Klug shares some insights on corporate and business tax implications in the post-election landscape during his presentation at the Global Chamber Baltimore/Washington (BWI) Advisory Board Fall Meeting on November 13, 2024.
Titled “Election Aftermath: Tax Implications Impacting the Bottom Line for Corporate America and Business Owners,” his presentation explored anticipated tax policy changes under the new administration and their potential effects on businesses.
On February 27, 2023, the Supreme Court of Finland set a new precedent (KKO:2023:15) in their ruling concerning the application of penalties for tax evasion (tax fraud), when private individuals fail to report investment income from foreign sources on their Finnish income tax returns.
With the global economy we live in, it is important for Fund Managers to have an appropriately structured fund if they plan to have foreign investors. Too often, the fund structure is not tax efficient for the foreign investor. If the fund is not structured to accommodate foreign investment, why should a foreign investor consider investing in the fund?
