President Donald Trump signed the One Big Beautiful Bill Act into law in July. The legislation made permanent many provisions of the Tax Cuts and Jobs Act of 2017 and ushered in numerous new and modified tax deductions. “A lot of the changes that the bill made will take effect in 2026,” says Patrick Malloy, co-director of national tax practice and strategy for Crescent Grove Advisors in Milwaukee. Still, there is a long list of items that are changing for the 2025 tax season. “I think people might be pleasantly surprised this year to see their tax burden go down,” [more]

The Family Medical Leave Act (FMLA) is an important law for employees facing significant life events. It allows eligible workers to take up to 12 weeks of unpaid leave for reasons like childbirth or caring for a seriously ill family member. To qualify, you must meet specific criteria related to your employment duration and hours worked. Comprehending these requirements is vital, as they can impact your rights and protections during leave. What else should you know about this significant legislation? [more]

Dividing financial assets during a divorce settlement is often a complicated situation. When it comes to splitting retirement assets specifically, the process tends to be simpler when compared to other assets. A marriage has a clear beginning and end; those dates can be used to neatly divide 401(k) and IRA earnings. Whatever is accrued during the marriage is deemed marital property. That said, there are still nuances surrounding the division of retirement funds that CPAs should be prepared to address. [more]

As an Audit Director, I’ve seen firsthand how quickly the regulatory ground beneath federal grants can shift—and how important it is for organizations that depend on public funding to shift with it. The new uniform guidance brings several significant changes: the single audit threshold has been raised to one million dollars, the de minimis indirect cost rate has been lifted to fifteen percent, and the equipment capitalization threshold has doubled to ten thousand dollars. These adjustments were designed to cut friction, reduce administrative burden, and direct more funds toward mission. But they also create a new compliance map that leaders must navigate carefully. [more]