Tax and accounting

Under current law, the deduction for business interest expense is generally limited to 30% of adjusted taxable income (ATI). Beginning in 2025, the One Big Beautiful Bill Act (OBBBA) changes how ATI is calculated. Depreciation, amortization, and depletion will once again be added back when determining ATI — a shift that effectively increases the amount…

As a family business owner, you’re not just building wealth; you’re also creating a legacy. But when it comes to transferring that legacy to the next generation, taxes, control and family dynamics can complicate even the best intentions. A family limited partnership (FLP) or family limited liability company — let’s refer to them collectively as…

The One Big Beautiful Bill Act (OBBBA) includes numerous tax law changes that affect employers. Understanding these provisions is essential to ensure compliance with federal tax and reporting obligations — and to minimize taxes when providing employee benefits. Below are 10 key employer-focused updates. 1. Employee Deductions for Qualified Tips and Overtime Income For 2025…

When you got married, you knew it was for “better or worse.” But you might not know about laws that hold you responsible if your spouse cheats on a tax return—a situation where expert tax accounting solutions Brookfield professionals can help protect your financial well-being. Married couples filing jointly should be aware that: To illustrate…

For many family-owned businesses, growth comes with a renewed commitment to employees and the community. One such business is taking that commitment to a new level by adding an on-site child care facility — an investment in its workforce that also comes with valuable federal tax incentives. A Strategic Step Toward Work-Life Balance The decision…