The NIH set a new policy that limits indirect cost recovery to 15% for research grants starting February 7, 2025. This alters the previous variable rates that institutions negotiated between 30% and over 60%. The NIH policy shift intends to increase funding for scientific research while ensuring NIH practices match those used by private foundations such as the Gates Foundation. The change creates substantial obstacles, especially for smaller institutions that depend on these funds to support their operations.

On March 2, 2025, the Treasury Department announced that it would not enforce any fines or penalties against US citizens or reporting companies or their beneficial owners after the rule change. They announced they will also be proposing a scope change that will narrow reporting requirement to only foreign reporting companies.

Why dealerships experience turnover in the Controller position.

Pass-through entities, including partnerships, S corporations, and LLCs, can benefit from many tax advantages due to their structure, but they also encounter distinct challenges. Discover the top challenges and actionable steps leaders can take to address these issues.

Changes to how governmental entities report compensated absences like vacation and sick leave

In the last few years, real estate and construction leaders have made great strides to implement new technologies into their regular practices. While these advances have uncovered additional efficiencies, their adoption has created a critical vulnerability: data security.

Another update on the Corporate Transparency Act: Beneficial Ownership Information reporting is once again required.

HHM's 2024 edition of the Auto Dealers' Economic Outlook focuses on key points and topics that auto dealers must be aware of going forward into 2024

This tax court ruling has practical implications for business owners when implementing various tax and estate planning strategies.

Effectively managing defined contribution plans requires a clear understanding of annual contribution limits, regulatory updates, and compliance deadlines.

The new year ushered in some chilling winter weather, and it also brought us a brand new tax season. As we look back at a challenging year in the construction industry, with high interest rates, high supply costs, and steep inflation, here are some things to consider in 2025.

Here are steps you can still take after the new year to reduce your tax liability.

Contact us to ensure you are meeting all applicable deadlines and to learn more about the filing requirements.

Corporations will continue to have to register and pay taxes, Act 2024-213 only removes the need to file an annual report.

A new policy announced by the Trump administration to suspend federal grants and loans has shocked local governments, nonprofits, and many community projects.

A federal judge issued a temporary injunction against the Trump administration’s January 27, 2025 federal funding freeze which provides municipalities and nonprofits relief through February 3 following legal challenges to the policy by nonprofits and state attorneys general.

Important update on the BOI / Corporate Transparency Act

Internships are a crucial phase in your professional journey, offering a chance to gain practical experience and build professional connections. To maximize the value of your internship, consider these strategies:

Traveling for business is an exciting idea for many young professionals. Some millennials have mastered the art of blending business travel with leisure travel, and research shows millennials associate business travel with job satisfaction.

Even if the taxpayer does not qualify for direct relief, they might be able to benefit in other ways using various potential tax saving opportunities.

By choosing the right allocation methods and applying them consistently, you can gain valuable insights into project costs, boost profitability, and make more informed decisions that will contribute to long-term success in the construction industry.

As real estate prices continue to rise, owners of undeveloped "raw" land are finding property development an increasingly attractive opportunity. However, those involved in development may face significantly different tax implications and investment returns depending on whether they are classified as investors who pay capital gains taxes, or dealers who are taxed at higher ordinary income rates.

While Section 179D offers significant benefits, navigating its complexities requires expertise. It’s vital to consult with a qualified tax advisor who specializes in the construction industry to maximize the benefits of 179D and avoid potential pitfalls.

There are several important tax deadlines for businesses and individuals just around the corner. Keep in mind that this list is not all-inclusive, so there may be additional deadlines that apply to you.