In a recent move, President Donald Trump has proposed to eliminate the carried interest tax loophole, a tax break that has long benefited Wall Street investment managers. This proposal aligns Trump with many Democratic lawmakers who have also sought to remove long term capital gains from carried interest. What Is Carried Interest? Carried interest refers…
Starting January 2025, due to Pennsylvania Act 122, most domestic and foreign filing associations registered to do business in Pennsylvania are required to file an Annual Report. This report will replace the prior filing, which is required once every 10 years, to confirm the existence of entities that have not made some other type of…
Microsoft Copilot has an update: Microsoft 365 Copilot Chat is now available! Copilot Chat is free access to Enterprise grade Copilot, giving organizations a taste of Copilot. This version has some limitations but is a great starting point for organizations not ready to get the value from the $30/month Copilot license. Key Features of Microsoft…
A comprehensive survey of private equity firms reveals the industry’s current AI landscape: 98% of firms report being in the process of digital transformation, though only 7% have completed this journey. The momentum is clear: 75% of firms are either investing or planning to invest in AI within the next 12 months, and 59% now…
Learn how Withum helped a healthcare client optimize realtime reporting, internal controls, scalability and automation while improving efficiencies within their finance department. Download a PDF of this case study. Executive Summary Withum’s CRM and ERP Consulting Services Team was engaged by a thriving radiology and vascular care business facing challenges associated with rapid growth. The…
Withum welcomes Wendy Heiss as a partner in its Cannabis Practice to expand cannabis accounting and business advisory services for the firm. I’m thrilled to have the opportunity to bring my knowledge in the cannabis marketplace to a recognized player in this space. Heiss brings 20 years of public accounting and auditing experience, eight primarily…
In a blockbuster three-team trade, the Los Angeles Lakers landed Luka Dončić from the Mavericks, while Anthony Davis headlined the package going to Dallas, with several other players and picks also involved in the deal. This trade has sparked significant debate, as the Mavericks part ways with one of the league’s premier talents. At just…
The rapid advancement of AI technology is transforming industries across the globe, reshaping how organizations operate and compete. From healthcare to finance, manufacturing to retail, AI is driving innovation and efficiency at an unprecedented pace. By automating routine tasks, providing deeper insights and enabling smarter decision-making, AI is helping businesses to not only survive but…
The rules around required minimum distributions (RMDs) from an IRA account have changed over the past few years, with the most recent change occurring in July 2023, when the IRS issued final regulations. Prior to these final regulations and the SECURE Act 2.0, individuals had to begin taking distributions at age 72. As of 2023,…
The California wildfires that broke out on January 7, 2025, have caused tremendous devastation to individuals and businesses alike. More than 29 people have died, and the wildfires have damaged more than 40,000 acres of land in and around Los Angeles. The fires have destroyed more than 12,000 homes and businesses and more than 180,000…