Author Archives: mgracey
The One Big Beautiful Bill Act (OBBBA), enacted in July 2025, brings significant tax benefits to domestic manufacturing companies. For example, the law restores taxpayers’ ability to fully write off domestic research and development (R&D) expenses in the year they are incurred. It also reinstates 100 percent special depreciation for a long list of new […]
The July 4, 2025, enactment of the One Big Beautiful Bill Act (OBBBA) amends the tax code and its impact on not-for-profit entities. These include changes to charitable deductions and an extension of excise taxes on highly compensated employees and net investment income for private colleges and universities. Charitable Deductions The OBBBA retains charitable deductions […]
In this episode, Associate Director of Tax Services Alex Keneiby, CPA, shares updates to Opportunity Zones in the OBBB.
Among the various provisions of the new tax and spending bill is a significant change to the tax accounting method condo developers must use to recognize income, removing a significant irritant to developers’ cash flow and tax efficiency. Background Developers of single-family homes and townhouses historically had the option to use the complete contract method […]
Taxpayers in high-income-tax states breathed a collective sigh of relief with the July 2025 passage of the One Big Beautiful Bill (OBBB), which provides a temporary increase to the cap on the state and local tax (SALT) deduction from $10,000 to $40,000 in 2025 through 2029, subject to income limitations. While the new law preserves […]
In this episode Real Estate Tax Director Art Lieberman explains the percentage of completion method of accounting, why it’s going away and why this is so valuable for condo developers.
The One Big Beautiful Bill Act (OBBBA) modifies several international tax laws introduced in 2017 by the Tax Cuts and Jobs Act (TCJA), including a decrease in deductions and changes to the names of the Global Intangible Low-Taxed Income (GILTI) and Foreign-Derived Intangible Income (FDII) regimes. The following provisions are scheduled to take effect for […]
The One Big Beautiful Bill Act (OBBBA), enacted in July 2025, makes dramatic changes to prior tax laws that encouraged individual and business taxpayers to invest in clean energy solutions that reduce carbon emissions. In many cases, taxpayers have a very narrow window of opportunity to claim these credits that are expiring at a much […]
The enactment of the One Big Beautiful Bill (OBBB) redefines and makes permanent the Qualified Opportunity Zone (QOZ) program introduced in 2017, ushering in new tax benefits for a broader range of qualifying investors. Background The Tax Cuts and Jobs Act (TCJA) introduced the concept of Qualified Opportunity Zones (QOZs) to help incentivize private investment […]
In this episode, Senior Manager of Tax Services Alik MacLauchlan shares financial and tax surprises that may arise when an individual changes jobs.