INSIGHTS

Thoughtful
thoughts from
the thinkers at
Larson Gross.

Tariffs weigh on manufacturing and construction

The impact of tariffs on manufacturing activity was in full force in May, according to business executives surveyed by the Institute for Supply Management, as falling demand and rising prices occurred simultaneously.

No tax on tips and overtime: What employers should know

RSM explains how the One Big Beautiful Bill Act proposals to not tax tips and overtime could affect employers. Learn more.

Washington State Tax Overhaul

Washington lawmakers just signed into law a sweeping package of tax reforms designed to fill a $16 billion budget shortfall. These changes, many of which take effect October 1, 2025, and some retroactive to January 1, 2025, will affect businesses of all sizes, high-income individuals, and consumers

Proposed Section 899: A Potential Game-Changer for Foreign Investment and U.S. Tax Policy

Part of the 2025 “One Big Beautiful Bill Act,” proposed Section 899 of the Internal Revenue Code seeks to impose higher U.S. taxes on foreign entities linked to jurisdictions the U.S. deems to have “unfair” tax policies. Aimed at pressuring foreign governments to revise such taxes, the measure passed the House on May 22 and now awaits Senate approval and presidential sign-off, with a target enactment date of July 4, 2025. Though still in draft form, Section 899 could significantly reshape cross-border tax planning. Larson Gross is closely tracking its progress to help clients navigate potential impacts on global operations.

The End of Paper Checks: What IRS’s 2025 Move Means for Taxpayers and Businesses

As part of a sweeping initiative to modernize federal payment systems, the IRS and the U.S. Treasury will officially discontinue the acceptance and issuance of paper checks for most tax transactions starting September 30, 2025. This transition is more than a procedural update—it represents a major shift in how individuals and businesses interact with the government financially.

Unlocking Opportunities in a Shifting Economy

Economic upheaval doesn’t just bring challenges - it opens the door for businesses that are willing to adapt. Now is the time to rethink your operations and uncover new opportunities for growth.

When a Growing Business Needs More Than a Bookkeeper

Has your business outgrown basic bookkeeping? If you’re facing bigger decisions, more complexity, or uncertainty about your financial future, it may be time to consider whether you need more strategic financial support than a bookkeeper can provide.

What You Need to Know Before Applying for an SBA Loan

For many entrepreneurs, an SBA loan is the gateway to launching or acquiring a business—but it’s not as simple as filling out an application. From choosing the right loan type to preparing a lender-ready financial package, success hinges on preparation and financial clarity.

IRS Priorities may be Shifting Under New Administration

IRS enforcement priorities are shifting, and the ripple effects could impact everything from high-income audits to payroll tax compliance. With workforce changes, funding rollbacks, and new leadership shaping the agency’s direction, taxpayers and advisors alike should be paying close attention. Read the full article to understand what’s changing—and what it could mean for your compliance strategy.

Estate Planning Q&A: Charitable Split Interest Trusts Explained

Key differences, benefits, and strategic uses of charitable split interest trusts (CLAT, CLUT, CRAT, CRUT, NIMCRUT, FLIPCRUT and more).

Estate Planning Q&A: Donor Advised Funds Explained

Learn how a donor advised fund (DAF) can help you receive a current charitable deduction and achieve long-term philanthropic goals.

1031 Exchanges: What Qualifies and Where Investors get Tripped Up

Discover how 1031 exchanges can be a game-changer for real estate investors, offering a strategy to defer capital gains taxes while reinvesting in like-kind properties. This guide dives into the mechanics, eligibility, and potential pitfalls of executing a successful 1031 exchange.

Should Canadian Companies Establish a U.S. Subsidiary?

With increasing tariffs and trade tensions between Canada and the U.S., many Canadian companies are considering whether establishing a U.S. subsidiary is the right move. Beyond tax implications, this decision impacts business strategy, operational efficiency, and long-term growth. While a U.S. subsidiary can reduce cross-border costs and improve market access, it also introduces new tax and compliance obligations. Careful planning with experienced advisors is essential to ensure the best outcome for your business.

CTA Update: Major Change to BOI Reporting Requirements in Interim Final Rule

U.S.-formed businesses are now exempt from beneficial ownership reporting under a new FinCEN rule. This change significantly reduces the compliance burden for many companies. Read the full article to see what’s changed, who still needs to report, and what steps (if any) you need to take.

Financial Blind Spots at Each Stage of the Business Lifecycle

Every stage of the business lifecycle comes with hidden financial risks—and most aren’t where you’d expect them. From early cash flow traps to overlooked succession planning, it’s easy to miss the warning signs until they’ve already impacted your bottom line. In this video, we break down the most common blind spots—and how to stay ahead of them.

Family Loans and Gifts: Avoiding a Tax Headache

When relatives lend or gift money, it can strengthen family bonds or lead to complications if not handled properly. This video explores the differences between gifts and loans in family finances, highlighting IRS guidelines and offering strategies to manage these transactions with minimal tax impact.
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