Taxation Insights

For manufacturers planning to build new facilities or expand their existing plants, last year’s One Big Beautiful Bill Act introduced a powerful new tax incentive.

When investors sell stocks or mutual fund shares, calculating the gain or loss for tax purposes is simply the difference between the sale price and the cost basis. In practice, however, it can get complicated. That’s because many people buy multiple shares of the same investments over time at different prices.

Tax Tip: Did you know the IRS will consider a rental property a personal residence if you rent below fair market rent to a family or friend?

Tax season has officially kicked off. Make sure you are organized and ready to file timely.

The phase out of paper checks has begun as the IRS shifts towards a modernized practice of using electronic payments. This order primarily effects individual or fiduciary tax payers since most businesses have already been required to use electronic payments.

Tax Tip: If a business doesn't have a buy-sell agreement in place, heirs may face significant challenges when the owner dies.

Navigate the upcoming tax filing season as an employer by making sure you comply with the federal information reporting requirements. Most forms are required to be electronically filed.

On December 12th MBK Senior Manager Mary Walsh and Tax Supervisors Olivia Calcasola and Elise Puza presented a special hybrid roundtable discussion with individuals and business leaders.