The IRS has specific guidelines regarding the deductibility of wardrobe purchases for entertainers. Understanding these rules is crucial for entertainers who want to maximize their tax deductions while staying compliant with tax laws. General Rules for Deductibility In most cases, the IRS does not allow deductions for clothing that can be worn outside of work….
Artificial Intelligence (AI) is no longer a futuristic concept—it’s a present-day force reshaping how organizations operate, compete, and grow. From hiring the right talent to optimizing internal processes and enhancing client engagement, AI is driving a new era of efficiency and strategic decision-making across all facets of business. Revolutionizing Talent Acquisition Recruiting the right people…
On June 16, 2025, the Senate Finance Committee (SFC) released legislative text for a bill that it proposed in response to the previous House bill named the One Big Beautiful Bill (BBB). The full Senate appears on track to consider changes to the BBB by the week of June 23, 2025. Withum previously summarized the…
Hedge Fund managers and other investment advisors are on high alert following the May 2025 Tax Court decision in Soroban because it signals a greater risk that a share of their earnings could be subject to self-employment tax. In Soroban, the U.S. Tax Court held that Soroban’s investment manager limited partners were active limited partners,…
The lodging industry is changing fast, and you can’t afford to be behind the curve on technology, trends and strategies. Staying current on the latest is essential for lodging businesses – but where do you begin and what can you do to keep your business competitive?
Section 83 of the Internal Revenue Code plays a critical role in determining how property transferred in connection with services is taxed, particularly when it comes to stock compensation and vesting schedules. Introduction to Section 83(b) Elections Enacted as part of the Tax Reform Act of 1969, Section 83 requires property value to be included…
Withum’s Hedge Fund Services Team earns global recognition from industry peers for excellence in audit expertise and client service. This international accolade was presented at the recent Hedgeweek Global Digital Assets Awards 2025, recognizing Withum’s outstanding audit services and unwavering commitment to excellence in the industry. WithumSmith+Brown, PC (“Withum”), one of the country’s top 25…
Strong governance is critical to the success of any organizational project, but making informed decisions, mitigating risk, managing resources and ensuring quality doesn’t come easy. Especially when juggling multiple initiatives! That’s where a Project Management Office (PMO) proves invaluable. A well-structured PMO structure provides the oversight and framework needed to align projects with strategic goals,…
Withum Wealth Management is pleased to announce that Henry Mercer has been named Chief Investment Officer at the firm. Mercer has 45+ years of investment management experience and most recently served as President of Mercer Capital Advisers, Inc., which he founded in 1999 and led until his brief retirement in 2022. Since then, he has remained active in the…
Withum is proud to announce that Kelsey Thomas, Senior Manager in the Firm’s Transaction Advisory Services Team, has received an esteemed Emerging Leader Award from The M&A Advisor. This prestigious accolade celebrates the remarkable achievements of professionals shaping the future of mergers and acquisitions, restructuring and corporate finance. Since joining the transaction advisory practice at…