Withum is proud to announce that the Firm has been named a Corporate Ally by the Boston Business Journal’s (BBJ) Business of Pride Awards, recognizing the Firm’s longstanding commitment to LGBTQ+ inclusion and advocacy in the workplace and broader community. The BBJ’s Business of Pride Awards celebrate organizations that demonstrate a strong commitment to LGBTQ+…
When establishing a new management company, one of the critical decisions you will face is how to compensate partners for their services: through guaranteed payments or distributions. Both methods are commonly used, but they have distinct tax implications. What Are Guaranteed Payments to Partners? Guaranteed payments are made by a partnership to its partners, irrespective…
Withum is proud to share that the Los Angeles Business Journal (LABJ) has named Chris Passmore to it’s LA500 List for the third consecutive year, in 2025. The annual LA500 list highlights the most influential and impactful business leaders shaping the Los Angeles business region. It focuses on each honoree’s title and their involvement in the business community and…
Let’s be honest — as user experience (UX) designers, we’ve always relied a little on our gut. We conduct research, run interviews, analyze user behavior, sketch wireframes, build prototypes and hope we’re making the right choices. But sometimes, even after all that, we’re still not sure if we’ve nailed it. Now imagine having a superpowered…
Withum is proud to announce that the L.A. Times has named Kevin D. Holmes to its list of Business of Entertainment Visionaries for the second consecutive year in 2025. Kevin D Holmes, a partner in Withum’s Los Angeles office, specializes in audit, business advisory and internal controls consulting. He has three decades of experience serving private and public…
Pennsylvania has embarked on a significant tax reform journey by reducing its corporate net income tax (“CNIT”) rate. This initiative aims to lower the CNIT rate from 9.99% to 4.99% by 2031. This reduction is part of a broader strategy to make Pennsylvania a more attractive destination for businesses, including law firms, by easing the…
Editor’s note: This is an evolving situation, and we will continue to update this information brief as the facts change. UPDATE: On Thursday, June 26, 2025, U.S. Treasury Secretary, Scott Bessent asked Congress to remove Section 899 from the One Big Beautiful Bill Act after coming to an agreement with G7 countries to exempt U.S….
The Senate Finance Committee released its markup of the One Big Beautiful Bill on June 17, 2025, which includes significant changes to state and local income tax deductions, various international provisions and clean energy credits. However, three provisions regarding bonus depreciation, interest expense limitation rules and domestic research and experimental expenditures are similar to the…
In the competitive hospitality sector, achieving financial efficiency and effective tax planning is vital. Hotel ownership presents unique opportunities to enhance cash flow and minimize tax obligations, particularly through the implementation of cost segregation. This article delves into the nuances of cost segregation, its significant advantages for the hospitality and lodging industry, and how they…
Withum secures new office space in San Ramon and invites the community to an open house celebration in Bishop Ranch Park. Withum is proud to announce the relocation of its San Ramon office to a new, state-of-the-art space in the prestigious Bishop Ranch business park, located at 6101 Bollinger Canyon Road, Suite 400. To celebrate…