The reinstatement of bonus depreciation is a critical component of recent U.S. tax legislation aimed at fostering economic growth. The 2017 Tax Cuts and Jobs Act (TCJA) had already put significant emphasis on bonus depreciation, but its permanent reinstatement under the "One Big Beautiful Bill...
The recent passage of the One Big Beautiful Bill Act (OBBBA) marks a significant shift in the tax landscape, bringing with it a range of changes aimed at easing the financial burden on American workers. Among these changes, the introduction of a new deduction for...
Let’s get one thing straight: Scammers are not slowing down. They’re getting slicker, faster, and disturbingly good at sounding like someone you trust—especially now that AI can mimic voices, emails, and even your tax pro’s writing style. The IRS sees it too. That’s why, every year, they publish...
So you built something real. A business. A legacy. A family-run thing that’s weathered recessions, pandemics, and probably more sleepless nights than you care to count. Maybe it’s a restaurant. A dental practice. A small farm. Maybe it’s a consulting firm that started at your kitchen...
In the world of independent pharmacy, managing cash flow can feel like a constant balancing act. Even when revenue looks healthy, cash shortages can still happen—leaving owners scrambling to cover payroll, pay vendors, or reinvest in their operations. If this sounds familiar, the issue may...
Independent pharmacies operate in a fast-moving and highly regulated environment. While owners focus on patient care and community engagement, small but steady profit leaks can go unnoticed—leading to long-term financial strain. At Blackman & Sloop, we work with pharmacy owners to help them identify and...
According to BDO Middle Market CFO Outlook Survey, 64% of chief financial officers (CFOs) believe environmental, social and governance (ESG) adoption will improve their organization’s long-term financial performance. However, for sustainability initiatives to succeed, ESG needs to be a cross-functional collaboration. Finance leaders must play a...
The IRS on June 9, 2023, released generic legal advice memorandum AM 2023-004, which addresses whether developing paid name, image, and likeness (NIL) opportunities for collegiate student-athletes furthers an exempt purpose under Internal Revenue Code Section 501(c)(3). The memorandum concludes that many 501(c)(3) organizations developing these opportunities...
Incredible advances in technology in recent years have enabled organizations to connect with and serve stakeholders in new and increasingly efficient ways. This includes leveraging artificial intelligence (AI) and chatbot technologies to revolutionize higher education operations, offering many benefits to institutions and their various stakeholders. In...
When examining the availability of tax credits, organizations in the nonprofit and local government space typically disregard the opportunity as inapplicable to their organizations. To tax-exempt entities, the concept of leveraging credits to lower their tax burden may seem at odds with their tax status....
