Adapting to new technologies always brings growing pains — especially when it comes to compliance. Artificial intelligence (AI) is transforming how companies operate, but it also introduces complex governance and risk management challenges. As organizations adopt AI tools, clients, regulators, and stakeholders increasingly want assurance that the technology is being used responsibly and transparently. Traditional
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IRS Releases Guidance on OBBBA Treatment of Research and Experimental (R&E) Expenditures
On August 28, 2025, the IRS issued an advance copy of Revenue Procedure 2025-28, providing important procedural guidance for taxpayers implementing the new rules under Section 174A introduced by the One Big Beautiful Bill Act (OBBBA). This article highlights the new guidance regarding the small business taxpayer retroactivity election, which may require prompt attention from
Read MoreWhat Asset Managers Should Do Now that OBBB is Final
The One Big Beautiful Bill Act (OBBB), enacted July 4, reshapes the tax landscape for funds, managers, portfolio companies, and investors. While many provisions are favorable, the law introduces new modeling choices, timing considerations, and structuring opportunities that call for swift, informed action. Below is a practical briefing to help you prioritize what matters most—so
Read MoreIRS Offers Simpler Path to Adjust Wage Deductions for Employee Retention Credit (ERC) Claims
The IRS has released updated guidance that simplifies how employers can correct wage expense deductions related to the employee retention tax credit. As of March 20, new FAQs clarify that taxpayers may now adjust wage expenses in the year an Employee Retention Credit (ERC) claim is either paid or denied—rather than having to amend a
Read MoreTop Tax Issues Pass-Through Entities Should Consider in 2025
Pass-through entities, including partnerships, S corporations, and LLCs, can benefit from many tax advantages due to their structure, but they also encounter distinct challenges. BDO’s 2024 Tax Strategist Survey, which polled senior tax executives about their most pressing concerns and plans for the year ahead, highlighted the specific tax risks and challenges pass-through entities are
Read MorePresident Trump Issues Executive Order Detailing New “America First Trade Policy”
In his first day in office, President Trump issued a slew of Executive Orders (EO), including one postponing the imposition of any immediate new tariffs that most were expecting on “Day One.” The “America First Trade Policy” EO instead postponed until at least February 1 the proposed 25% tariffs on goods imported from Canada and
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