In a fiercely competitive market, life sciences leaders face the dual pressures of spiraling R&D costs and the urgent need to accelerate innovation. The companies that thrive will be those that move beyond traditional models and embrace a new strategic advantage: autonomous AI agents. AI innovation is moving beyond using AI as a passive analytical…
In the fast-paced CPG world, it’s tempting to focus on big wins — a new retail partner, a buzzworthy product launch or a jump in store count. Lasting brands look beyond top-line growth, tracking the financial metrics that protect cash, attract investors and fuel sustainable scaling. These numbers aren’t just accounting entries; they’re decision-making tools…
Withum is proud to announce that Construction Executive, a leading publication in the construction industry, named Withum in their list, The Top 50 Construction Accounting Firms™. Withum has ranked in the top 20 since 2019. Constructive Executive’s Top 50 ranking is determined by an algorithm weighing key factors such as construction and architectural & engineering…
The One Big Beautiful Bill Act (OBBBA), enacted on July 4, 2025, introduces sweeping reforms to the tax treatment of charitable contributions. For high-net-worth individuals (HNWIs), these changes present both strategic opportunities and new limitations that warrant careful planning to preserve philanthropic impact and optimize tax outcomes. Attorneys in particular often experience income spikes from…
Accounting Standards Update (ASU) 2025-05 – Measurement of Credit Losses for Accounts Receivable and Contract Assets, issued in July 2025, introduces a practical expedient and accounting policy election under Topic 326: Financial Instruments—Credit Losses, specifically tailored to ease the burden for entities when estimating credit losses for accounts receivable and contract assets. Simplified Estimation of…
The recently signed One Big Beautiful Bill Act (OBBBA) reinstates immediate expensing for U.S.-based Research and Development (R&D) under Section 174 for tax years beginning after December 31, 2024. It’s now more important than ever to pay attention to key state-level changes relating to R&D. Recent legislation in California, Texas, and Minnesota has introduced notable…
The 2025 Maryland budget bill, H.B. 532 (the Bill), was signed into law by the Governor on May 20, 2025. Among the tax increases in the Bill that were enacted to plug the state’s budget deficit is a new 3% sales tax rate on certain data and information technology services, effective July 1, 2025. The…
In today’s digital landscape, law firms are prime targets for cyber-attacks due to the highly sensitive client data they manage. To protect this information, maintain client trust, and comply with regulatory requirements, many firms are implementing and demonstrating robust security practices by undergoing regular SOC 2 examinations. These examinations or audits attest that controls are…
On June 21, 2024, the Internal Revenue Service (IRS) announced the release of a revised draft of Form 6765, used to claim the Research & Development (R&D) Tax Credit. The accompanying draft instructions were subsequently issued on December 20, 2024. The revised form, effective beginning with the 2024 tax year, introduces several significant changes, including…
Since July, there has been a notable increase in ransomware activity targeting organizations using SonicWall firewalls, particularly the SonicWall SSL VPN functionality. A critical unknown vulnerability is giving attackers and ransomware groups initial access to internal networks, allowing them to move laterally, compromise domain controllers, and deploy ransomware to encrypt devices. It is strongly advisable…