The One Big Beautiful Bill introduces major tax benefits for small businesses, including the permanent return of 100% first-year bonus depreciation for eligible assets placed in service after January 19, 2025. It also significantly increases Section 179 expensing limits and introduces new incentives for production-related real estate, offering substantial opportunities for tax savings and reinvestment.
Read MoreSigned into law on July 4, 2025, the Reconciliation Bill—officially titled the One Big Beautiful Bill (OBBB)—introduces sweeping changes to the U.S. tax code.
Read MoreStarting in 2026, nonprofits will face an expanded excise tax on compensation exceeding $1 million, which will apply to any employee, not just the top five earners. Donors will also see changes: nonitemizers can deduct up to $1,000 in charitable contributions, while itemizers must exceed a 0.5% AGI threshold to claim deductions, and corporations will face a 1% income floor for charitable deductions.
Read MoreWhen deciding whether to give to charity now or later, it's important to weigh personal financial circumstances, tax implications, and the potential impact of your gift. Giving during your lifetime allows you to see the results of your generosity, while planned giving can ensure long-term support for causes you care about.
Read MoreNonprofits can host impactful meetings and events without overspending by making thoughtful choices around food, beverages, vendor contracts, and equipment. Strategic planning, early booking, and leveraging volunteers or in-kind donations can significantly reduce costs while still delivering a high-quality experience for attendees.
Read MoreThe One Big Beautiful Bill (OBBB) Act, signed into law on July 4, 2025, makes permanent several provisions from the Tax Cuts and Jobs Act while introducing new deductions, such as for tips and auto loan interest, and expanding the child tax credit. It also raises the standard deduction and estate tax exemption, but eliminates green energy credits and personal exemptions, reshaping tax planning for individuals.
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