MAGI, Big Beautiful Bill Act, and more

Meet Our Firm

Melissa English, Director

Melissa is a Director in the firm working with clients across a variety of industries. She is responsible for managing audits of non-profit organizations, employee benefit plans, and small to medium size businesses. She is also the lead professional working with our employee benefit plan practice. [more]

Most Leaders Overlook This Simple But Powerful Driver of Customer Experience

Customers form opinions within seconds of walking through your door. According to research published in Psychological Science, people make lasting judgments about trustworthiness and competence in as little as seven seconds — sometimes less. For entrepreneurs, that means customer experience doesn’t start with your sales pitch, logo or website. It begins the moment someone steps into your space. [more]

How to transition to a new industry without starting over

Transitioning to a new industry often seems like a daunting prospect if you feel like you have to start from scratch, but that’s not necessarily the case. There are numerous strategies you can employ to navigate career changes, including translating existing achievements into relevant terms, finding unique opportunity gaps, and leveraging transferable skills in meaningful ways. [more]

The Many Definitions of Modified Adjusted Gross Income (MAGI)

People understandably gripe about the complexities of the federal income tax laws. Filling out your tax return is not as easy as writing a couple of numbers on a postcard and sending it to the IRS. Just when you think that you might have a handle on your taxes, Congress changes the laws, sometimes retroactively. Confusing tax terminology adds to the challenge. One example is the many meanings of the term “modified adjusted gross income,” sometimes referred to as modified AGI or MAGI. [more]

Changes to Charitable Giving Under the One Big Beautiful Bill Act

As the year comes to a close, many taxpayers are considering how to handle their end-of-year donations. The One Big Beautiful Bill Act (OBBBA), passed earlier this year, contains several key policies that will affect how many taxpayers itemize, and how itemizers may benefit from deducting charitable donations. The OBBBA makes permanent and expands the Tax Cuts and Jobs Act’s (TCJA) temporary increase to the standard deduction. The expansion takes effect for tax year 2025, and the standard deduction will be $15,750 for single filers and $31,500 for joint filers in 2025. [more]

Inflation adjustments to retirement account limits issued for 2026

The IRS announced the 2026 benefit and contribution limits for qualified retirement plans, including contribution limits for Sec. 401(k) plans and individual retirement arrangements (IRAs) Thursday, increasing the limit for 401(k) plans by $1,000. Notice 2025-67 includes updates to dollar limits for a range of qualified retirement plans and accounts, including traditional and Roth IRAs. The amount that individuals can contribute to 401(k) plans will increase to $24,500 in 2026, up from $23,500 in 2025. The new amount also applies to Sec. 403(b) and most Sec. 457 plans, as well as the federal government’s Thrift Savings Plan. [more]

Smart Investors Are Leveraging Qualified Opportunity Zones—Here’s How with Kiley Bissell

As a tax advisor, I’ve seen firsthand how Qualified Opportunity Zones (QOZs) can transform not only investment portfolios but entire communities. Introduced under the Tax Cuts and Jobs Act of 2017 and recently made permanent, these zones were designed to stimulate economic growth in distressed areas while offering substantial tax incentives to investors. Yet despite their potential, many people still don’t fully understand how to leverage them effectively. What makes Opportunity Zones so compelling is their three-tiered tax advantage. First, they offer tax deferral. If you reinvest capital gains into a Qualified Opportunity Fund (QOF) within 180 days, you can postpone paying taxes on those gains. [more]

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