With the passage of the One Big Beautiful Bill (OBBB), below is a summary of notable changes to the tax code for businesses, as well as an outline of notable changes for individuals....more
A hypothetical state law for-profit company, which may be a bank, credit union, insurance company, healthcare organization, or other entity (“Company”) intends to establish a charitable organization (“Foundation”) to carry...more
Introduction The One Big Beautiful Bill Act (Act) establishes a new federal tax credit for individual donations to Scholarship Granting Organizations (SGOs) serving U.S. elementary and secondary school students....more
7/18/2025
/ 501(c)(3) ,
Compliance ,
Donations ,
Educational Institutions ,
Internal Revenue Code (IRC) ,
One Big Beautiful Bill Act ,
Scholarships ,
State Taxes ,
Tax Credits ,
Tax Legislation ,
Tax Returns
On January 21, 2025, President Trump issued Executive Order 14173: Ending Illegal Discrimination and Restoring Merit-Based Opportunities (“EO 14173”). EO 14173 aims to eliminate Diversity, Equity, and Inclusion (“DEI”) and...more
President Trump signed the One Big Beautiful Bill Act (OBBBA) into law on July 4, 2025. The OBBBA will have broad and important consequences for many US taxpayers, including tax exempt organizations and educational...more
7/17/2025
/ Colleges ,
Educational Institutions ,
Excise Tax ,
New Legislation ,
One Big Beautiful Bill Act ,
Private Schools ,
Students ,
Tax Exempt Entities ,
Tax Legislation ,
Tax Reform ,
Taxation
Equity incentive plans are a powerful tool for encouraging and rewarding a company’s employees and leadership, who may include prospective investors, through different kinds of equity interests and structures. Different...more
Beware of a new scam targeting Michigan businesses and individuals. The scam uses fake mailings containing “Annual Statement Past Due” notices.
These notices arrive in plain white envelopes, bear no return address, and...more
In 1965, President Lyndon Johnson issued Executive Order 11246 requiring all contractors and sub-contractors working on a project financed by more than $10,000 of federal funding (including Small Business Administration (SBA)...more
9/18/2024
/ Affirmative Action ,
Borrowers ,
Construction Contracts ,
Construction Industry ,
Construction Project ,
Employment Discrimination ,
Federal Contractors ,
Federal Funding ,
Hiring & Firing ,
Non-Discrimination Rules ,
SBA