What the OBBBA change means for recreational and professional gamblers Gambling and sports betting have become a routine part of many taxpayers’ financial lives, and the tax rules that come with them may not become apparent until a return is prepared. Gamblers may assume that a year of winning and losing similar amounts carries no…
This article is part two of a five-part series exploring the phases of building data readiness that your business (and eventually your AI initiatives) can run on. Try this at your next leadership meeting. Ask your sales, finance and operations leaders one simple question: how many customers do we have? If you get three different…
As 2026 comes to a close, cash-basis law firms should consider year-end planning opportunities that may reduce or defer taxable income while supporting the firm’s broader business and cash-flow objectives. Because cash-basis taxpayers generally recognize income when received and deductions when paid, actions taken before December 31 can directly affect the taxable income ultimately allocated…
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