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One Big Beautiful Bill Act: Implications for Accounting for Income Taxes

President Donald Trump signed the reconciliation tax bill, commonly known as the “One Big Beautiful Bill Act” (OBBBA) into law July 4, 2025, which is considered the enactment date under

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OBBBA on Overtime Wages and Tips

Overtime Wages Effective for tax years 2025 through 2028, individual taxpayers are eligible to deduct the premium portion of overtime (such as the “half” in “time-and-a-half”) for time worked beyond

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BMSS Presents: The OBBBA & Year-End Tax Planning – What Individuals Need to Know

As 2025 winds down, it’s crucial for individuals to understand the implications of recent legislative changes and how to optimize their tax strategies before year-end. Join us for a comprehensive

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The Latest on Washington’s “Beautiful” Tax Bills

Written by Todd Martin, IV, Senior Manager and Jan Lewis, Member On May 22, Americans got their first look at a proposed tax legislation package under the new administration with

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