Insights

Stay informed with the latest insights and perspectives from Withum.

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Employee benefits options on digital interface.
How Industrial and Consumer Products Companies Can Prevent Costly 401(k) Operational Failures

For CFOs and controllers running labor-intensive businesses, managing a compliant 401(k) plan is tough. Done incorrectly, it can trigger DOL penalties, disrupt payroll processes and undermine employee trust. Complex pay structures, high employee turnover, multi-location operations and decentralized HR functions all increase the likelihood of 401(k) operational failures. Here’s how industrial and consumer products companies…

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up close shot of the back of a us penny.
How Should Businesses Handle Cash Rounding During the Penny Shortage?

Retailers across the United States are increasingly feeling the effects of a nationwide penny shortage, a challenge that has intensified as the U.S. phases out production of the one-cent coin. With no new pennies minted for circulation in months, and the Treasury Department preparing to end penny production entirely in early 2026, many brick-and-mortar establishments…

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trucks at a distribution center
State and Local Tax Considerations for Warehouses, Production Facilities and Distribution Centers

Several companies have indicated their intent to invest in domestic manufacturing including Apple, NVIDIA, J&J, Roche. There are several state and local tax considerations in deciding where to select a location for a warehouse, factory, production facility, 3PL or distribution center. These considerations include income/franchise, sales/use and property taxes. Here are several state and local…

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tip jar at a local business
Preliminary Guidance Released on OBBBA’s No Tax on Tips Provision

The Treasury Department has released preliminary guidance on the jobs that are expected to qualify under the “No Tax on Tips” provision of the  One Big Beautiful Bill Act, commonly referred to as the OBBBA or OB3.  The initial list of jobs that will fall under this new tax deduction is provided below; however, the…

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restaurant worker, waitress
Updates: Insights Related to No Tax on Tips and Overtime in the OBBBA

Latest Update: As of September 3, 2025, the Treasury Department released its preliminary listing of jobs that qualify under the “No Tax On Tips” Provision of the One Big Beautiful Bill Act. Click here to learn more.  Update: As of August 7, 2025, the IRS announced that there will be no changes with respect to…

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paying a restaurant bill and including tip
What You Need to Know Now About New Legislation: No Tax on Tips and No Tax on Overtime

Update: As of September 3, 2025, the Treasury Department released its preliminary listing of jobs that qualify under the “No Tax On Tips” Provision of the One Big Beautiful Bill Act. Click here to learn more.  President Donald Trump signed the One Big Beautiful Bill Act, commonly referred to as the OBBBA or OB3, into…

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