Charitable giving has long been a cornerstone of tax planning. Before the 2025 year closes, we wanted to make you aware of several significant changes to the charitable giving tax rules that will take effect in 2026, reshaping the landscape for donors. Understanding these changes is crucial for maximizing the impact of your philanthropy and your tax savings.

Many entities often struggle with the complexity of the current expected credit losses (CECL) model, especially the requirement to forecast future economic conditions when estimating credit losses on accounts receivable. ASU 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets, issued on July 30, 2025, brings some relief with simpler options tailored to the short-term nature of most accounts receivable.

As we approach year-end, it is again time to focus on year-end planning ideas that you can implement to save taxes both in the current and future years. The approach of deferring income and accelerating deductions to minimize taxes still works for many taxpayers, along with the tactic of “bunching” expenses into this year or the next to optimize deductions.

We have recently learned of various companies offering to help you reclaim surrendered funds/assets held by the State – for a fee. In the following paragraphs, we will explain why the State would be holding your funds/assets and how to reclaim them yourself, free of charge.

As communicated in our August email, an executive order was signed ending virtually all paper checks to and from the federal government effective September 30, 2025.

Do you need a business valuation for your small business? You might need the business valuation for Estate and Gift business taxes, possible business sale, or a host of other reasons.

The recently enacted One Big Beautiful Bill Act (OBBBA) includes several significant tax and policy provisions that directly and indirectly impact financial institutions.

Under an executive order signed earlier this year, beginning on September 30, 2025, the federal government must stop issuing paper checks (with very few exceptions) and will no longer accept paper checks from taxpayers.

On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act, a sweeping piece of legislation that reshapes the American tax code. At its core, the bill makes permanent many of the tax cuts originally enacted in the 2017 Tax Cuts and Jobs Act (TCJA). However, the bill also makes significant tax reform that affects individuals, businesses, and estates. Here we provide a summary of developments for taxpayers to consider.