By Kelly Berardi & Richard HirschenGray, Gray & Gray, LLP Table of Contents The One Big Beautiful Bill Act (OBBBA) has brought about a fundamental shift that directly impacts the bottom line for highly leveraged commercial real estate portfolios. Specifically, the permanent restoration of the EBITDA-based calculation for business interest deductions under Section 163(j) is […]
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By Kelly Berardi & Richard HirschenGray, Gray & Gray, LLP Table of Contents The commercial real estate landscape has changed significantly over the past several years, and the strategies surrounding Section 1031 exchanges have evolved accordingly. As accountants and advisors who work with real estate investors and developers, we’ve observed fundamental shifts in how clients
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By Derrick Rebello, CPAGray, Gray & Gray, LLP The signing of the One Big Beautiful Bill Act on July 4, 2025 represents a watershed moment for financial leaders in the manufacturing and distribution sectors. This sweeping tax legislation fundamentally reshapes the strategic tax planning landscape, creating both substantial opportunities and new complexities that demand immediate
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By Tom Yuen, CPA, MST Gray, Gray & Gray, LLP Executive Summary The Trump Administration’s new $100,000 H-1B visa application fee, which went into effect on September 21, 2025, has fundamentally altered the economics of hiring high-skilled foreign workers. This one-time fee applies only to new H-1B petitions for workers from outside the U.S. and
Should You Pay the New $100,000 H-1B Fee? Read More »
The recently enacted One Big Beautiful Bill Act (OBBBA) brings significant changes to the U.S. tax code, particularly affecting Section 174, which governs the tax treatment of research and experimental (R&E) expenses. For business owners and tax managers, understanding these changes is crucial for effective financial planning, compliance, and informed strategic decision-making. Here are the
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The One Big Beautiful Bill Act (OBBBA), signed into law by President Trump on July 4, 2025, represents the most significant tax legislation since the 2017 Tax Cuts and Jobs Act. This comprehensive reform package permanently extends and expands numerous tax provisions while introducing new benefits specifically targeting individual taxpayers, high net worth individuals, business
What’s in the One Big Beautiful Bill Act for Individual Taxpayers? Read More »
The One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, represents the most significant tax reform since the Tax Cuts and Jobs Act of 2017, delivering substantial benefits for privately held businesses through permanent tax provisions and enhanced depreciation allowances. Pass-Through Business Tax Benefits The Act permanently extends and enhances the
What’s in the One Big Beautiful Bill Act for Privately Held Businesses? Read More »
Expanding your footprint adds layers of complexities to tax compliance By Martin D. Kirshner, CPA, MSAGray, Gray & Gray, LLP Table of Contents For heating oil and propane distribution companies operating across multiple states, navigating the complex web of tax obligations requires careful planning and meticulous record-keeping. The expansion into neighboring states often brings significant
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The Alternative Fuel Tax Credit serves as an important federal tax benefit in the United States, reducing the tax burden for businesses and individuals who use fuel for specific qualifying activities. These activities include off-highway business operations, agricultural work and aviation purposes. To strengthen oversight of this program, the Internal Revenue Service has implemented new
IRS Tightens Oversight on Alternative Fuel Tax Credit Read More »
Significant changes are coming to how businesses report their Research and Development (R&D) tax credits. The Internal Revenue Service has recently released draft revisions to Form 6765, marking the most substantial revision in the form’s history. Here’s what business owners and financial managers need to understand about these changes. New Reporting Requirements for 2024 For
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