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Insights Center: 2025 Tax & Legislative Changes

Individuals, businesses and not-for-profit organizations are all affected by the new tax law – and we are ready to help. Start by staying informed; you’ll find our analyses of the new law’s many provisions here.

Foundations Breathe a Sigh of Relief – Senate Releases Its Version of The One, Big, Beautiful Bill
June 17, 2025

Most of the proposed provisions that would have directly impacted private foundations were removed.

US House of Representatives Approves Rescission of Federal USAID Grants
June 16, 2025

The USAID recissions package is only part of the administration’s efforts to reduce the country’s current $36 trillion deficit.

Getting It Right in Year One: Navigating GASB 103 Requirements
June 12, 2025

GASB Statement No. 103, Financial Reporting Model Improvements, is effective for fiscal years beginning after June 15, 2025.

Maryland Budget Has Key Tax Provisions for Tech Services and High-Income Taxpayers
June 9, 2025

This legislation will bring significant tax changes for businesses providing certain technology services and for high-income taxpayers.

Transitioning to Daily Computations of the Customer Reserve Formula
June 4, 2025

Required or not, transitioning to daily calculations is generally a sound strategy, providing several long-term benefits.

Fame Shouldn’t Equal Vulnerability
June 3, 2025

From prominent cases of stolen millions to the quiet, slow siphoning of wealth, embezzlement by business managers is all-too-common.

10 Business Strategies to Navigate Tariffs and Tax Uncertainty
June 2, 2025

Regardless of what the future holds, it’s crucial for businesses to strategize and plan proactively.

Current Market Turmoil May Have Dipped Your Endowment Underwater
May 28, 2025

Recent studies show an increase in gifting to college and university endowments over the past several years.

BE-10 Survey Due May 30: Key Filing Details for U.S. Investments Abroad
May 27, 2025

The most current survey is due May 30, 2025, for anyone who meets the reporting requirements for 2024.

Key Tax Highlights from New York’s FY2026 Budget
May 21, 2025

On May 9, 2025, Governor Kathy Hochul signed New York State’s Budget Bill (Budget) for the 2026 fiscal year, read more for the key tax provisions.

House Introduces Sweeping Tax Legislation – Highlights from “The One, Big, Beautiful Bill”
May 20, 2025

On May 14, 2025, the House Ways and Means Committee advanced its tax bill, “The One, Big, Beautiful Bill.” While final passage is still far off, key tax provisions offer insight into what the final legislation could include.

Employee Benefit Plans Alert: Spring 2025 Edition
May 19, 2025

This edition of the Employee Benefit Plans Alert focuses on the following topics: ERISA Welfare Plans, Section 125 Cafeteria Plans, Section 457(b) Eligible Deferred Compensation Plans for Nongovernmental Entities.

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