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UPDATED: Key Figures 2025 & 2026

UPDATED: Key Figures 2025 & 2026

January 9, 2026

Lisa Favor

As we begin the new year, we’re sharing updated tax planning figures for 2025, along with a preview of key considerations for 2026. These updates are designed to help you plan proactively and make informed decisions throughout the year. If you have any questions or would like to discuss how these figures apply to your…

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Our Articles

Social Security OBBBA

Is Social Security Now Tax-Free Under the OBBBA? Here’s What You Need to Know

December 18, 2025

If you’ve heard that the One Big Beautiful Bill Act (OBBBA) made Social Security “tax-free,” you’re not alone. Many retirees are asking the same question — and for good reason. While the OBBBA does bring significant tax relief for seniors, it does not automatically make Social Security income tax-free for everyone. Instead, it introduces a…

Your OBBBA Year-End Playbook 2025

Your OBBBA Year-End Playbook 2025

December 9, 2025

Key Takeaways for OBBBA Your 2025 Tax Strategy Window Is Closing Fast With just weeks left in the year, business owners and high-net-worth families are looking at one of the most pivotal year-ends in recent memory. The One Big Beautiful Bill Act (OBBBA) reshaped key areas of the tax code—bringing back full bonus depreciation, expanding…

Reconciling Opening Balances

How Local Government Finance Teams Bridge the Books: Reconciling Opening Balances After Go-Live

November 20, 2025

Months of configuration, data cleanup, and testing culminate in a single moment: turning on your new financial system. But your first test is reconciling opening balances after go-live to confirm that your financial history transferred accurately from your legacy system. If not, every dashboard, report, and decision is on a shaky foundation. Decide What to…

Key Figures 2025 & 2026

Key Figures 2025 & 2026

November 19, 2025

As we approach the end of the year, we want to provide you with essential tax planning figures for 2025 and a preview for 2026. If you need any further assistance or clarification, please do not hesitate to contact us. We are always happy to help you with your tax needs. Download PDF: Key Figures…

California

California Doesn’t Play by Federal Rules: What §179 and Bonus Depreciation Really Mean for 2025

November 18, 2025

Key Takeaway: Even though the One Big Beautiful Bill Act (OBBBA) restored 100% bonus depreciation at the federal level, California still doesn’t conform. The state limits §179 expensing to $25,000 and completely disallows bonus depreciation—creating a big difference between your federal and state taxable income. California and Bonus Depreciation: Still a No-Go While federal law…

Binding Contract Rule

100% Bonus Is Back Under OBBBA—But Watch Out for the “Binding Contract” Rule

November 11, 2025

Key Takeaway: 100% bonus depreciation is back—great news for businesses looking to accelerate write-offs. But a new binding contract rule could catch early-year buyers off guard. A Quick Recap: From Phase-Down to Full Recovery When the Tax Cuts and Jobs Act (TCJA) passed in 2017, businesses celebrated a historic opportunity: 100% bonus depreciation for assets…

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