Capital Planning 101
Capital planning is a critical component of management for governments and public institutions. Here, we break down the capital planning process into four parts.
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Proposed Federal Tax Legislation: The One, Big, Beautiful Bill Act
The proposed federal tax legislation aims to simplify the tax code, reduce rates for individuals and businesses, and eliminate certain deductions and credits. The bill also seeks to increase the standard deduction and expand tax credits for families, while ensuring that the changes are revenue-neutral over the long term.
Read MoreHow Nonprofits Can Manage Revenue Sources
Nonprofits can effectively manage their revenue sources by diversifying their funding streams and implementing strategic financial planning. This approach helps ensure financial stability and sustainability, allowing organizations to better achieve their missions and serve their communities.
Read MoreEnsuring Fair and Compliant Compensation for S Corporation Manufacturing Owners
Owners of small manufacturing businesses structured as S corporations must ensure they receive reasonable compensation for their work to comply with IRS rules. While distributions can offer tax advantages, they must follow fair salary payments based on the owner’s role, responsibilities, and industry standards.
Read MoreNavigating New GASB Pronouncements: What Small and Mid-Size New York Governments Need to Know
As we reach the midpoint of 2025, small and mid-size governments in New York State are navigating significant changes to their accounting and financial reporting practices, driven by recent Governmental Accounting Standards Board (GASB) pronouncements.
Read MoreMoore Signs Maryland Fiscal 2026 Budget to Impose Tech Tax, Change PTE Rules, Increase Taxation of Top Earners
Maryland's fiscal 2026 budget introduces a 3% sales tax on data and IT services, along with new tax brackets and increased rates for high-income earners. The budget also raises taxes on cannabis, sports betting, and vehicle excise, while proposals to reduce corporate tax rates and repeal inheritance tax were not included.
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