It's time to do tax planning for the end of the year. There are opportunities to save on taxes and tax traps to avoid. With less than two months left before 2025 comes to a close, this story focuses on actions you can take to cut your federal tax bill. We'll delve into individual planning, investments, retirement accounts, gifts, withholding, business taxes and more. It's important to keep in mind the tax changes in the "One Big Beautiful Bill" (OBBB). This legislation, which was enacted on July 4, 2025, permanently extends... [more]

Everyone loves a great comeback and the accounting profession is having one. The profession is evolving, and its perceived decline could not be further from reality. At the Lubin School of Business at Pace University (this author’s institution and home to one of the oldest accounting programs in New York City) there has been a significant increase in students selecting a major in accounting. This trend is not isolated. According to the AICPA’s 2023 Trends Report, 75% of bachelor’s programs and 78% of master’s programs expected enrollment in 2023–24 to remain the same or increase compared to prior years. [more]

After several key changes in 2025, experts are advising taxpayers to start preparing for the coming year now to avoid any costly mistakes. “Taking action before the end of this year can be a huge benefit to your financial health in 2026,” Dan Snyder, director of financial planning with the American Institute of CPAs (AICPA), said in a news release. “There have been many changes in the tax and financial planning space this year and now is the time to educate yourself and make changes that can affect your tax bill before April 15, 2026.” [more]

Selling a business is one of the most significant milestones in an entrepreneur’s life. It often represents the culmination of years—sometimes decades—of hard work, sacrifice, and passion. But I’ve seen time and again that the process doesn’t begin when a buyer shows up, and it certainly doesn’t end with a handshake at closing. A successful sale starts years in advance and continues well beyond the transaction itself. The preparation phase is absolutely critical. I always advise business owners to begin planning their exit long before they intend to sell—ideally two to five years ahead. This extended runway allows time to make strategic improvements that can boost valuation, clean up any red flags, and organize the documentation that buyers will scrutinize during due diligence.  [more]