Maryland’s new 3% tech tax, effective July 1, 2025, is poised to significantly impact manufacturing companies – especially those that rely on digital infrastructure, software and IT services to operate efficiently. Here’s how. Overview of the Tech Tax The tax applies to a wide range of technology services, including: The above services could trigger a…
What Is Cryptocurrency Cost Basis? Your cryptocurrency cost basis is the original value of a digital asset when you acquire it. This includes: Understanding your cost basis is essential for crypto tax reporting, especially when calculating capital gains or losses for IRS compliance. Why Cost Basis Matters in Digital Asset Accounting Whether you’re a long-term…
Microsoft Dynamics 365 Business Central (BC) continues to raise the bar for small and mid-sized businesses seeking a connected, cloud-first ERP. In 2025, Microsoft doubled down on AI-assisted work, agent automation, e-commerce integration and everyday usability. This article highlights the most significant improvements from Release Wave 1 (April–September 2025) and what’s planned for Business Central…
The manufacturing landscape is undergoing a seismic shift. The old playbooks optimized for stable supply chains, predictable customer demand and affordable inputs are rapidly becoming obsolete. Global volatility and mounting economic pressures have created a perfect storm. These aren’t temporary headwinds; they’re structural changes. The companies that will thrive in this new era are those…
Regulatory scrutiny around labor unions often changes with a new administration so the need for accurate LM-2 reporting has never been more important. The Department of Labor (DOL) has emphasized its intention to reinforce transparency and compliance across financial disclosures, emphasizing detailed, timely and accurate LM-2 filings; something no union can afford to overlook. The…
Vault ranks Withum in the top 30 on its annual Best Accounting Internships 2026 list. Withum’s internship program gives aspiring tax and audit professionals the opportunity to explore the accounting profession and realize a fulfilling career path. College students, as early as their sophomore year, have an opportunity to get hands-on experience in public accounting while working…
Ryan Kelly, an audit manager in Withum’s Orlando office, was one of only 36 professionals honored by the American Institute of CPAs (AICPA) as a member of its 17th Leadership Academy graduating class. Ryan was selected to attend the four-day Leadership Academy program based on his exceptional leadership skills and professional experience. The event will…
On September 25, 2025, Senator Bernie Moreno (R-OH) introduced the Halting International Relocation of Employment Act (HIRE Act). The HIRE Act aims to incentivize businesses to expand hiring and boost domestic workforce retention. It includes a range of tax credits and employment support reforms. The HIRE Act’s international tax aspects would be a major policy…
Beginning in January 2026, through the Department of Health and Human Services, the 340B Drug Pricing Program will initiate a voluntary pilot rebate model for a select group of drugs and manufacturers. The voluntary qualification application period for manufacturers concluded on September 15, 2025, with approvals expected from the Office of Pharmacy Affairs (OPA) by…