Insights

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Why Hospitality ERP Is No Longer Just Back Office

For years, Enterprise Resource Planning (ERP) systems in hospitality were treated as essential, but mostly administrative. They handled accounting, payroll, reporting, and compliance. While certainly important functions, ERPs were not typically viewed as tools that influenced daily operations. In many organizations, ERP was where data landed after the real action had already taken place. That…

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From Capital Contribution to Taxable Sale: Understanding Disguised Sales in Today’s Partnership Structures

Partnership transactions typically begin with the expectation that contributions and distributions will be respected for federal income tax purposes. That expectation can erode quickly, however, when cash and property change hands in close succession. The disguised sale rules under Internal Revenue Code (IRC) Section 707(a)(2) continue to represent one of the most challenging and heavily scrutinized…

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Understanding the Financial Side of Timeshare Ownership

Timeshares have helped millions of families enjoy memorable vacations in high-quality resorts year after year. For owners who value consistency, destination options, spacious accommodations, and resort-style amenities, vacation ownership can be a practical and rewarding way to travel. Understanding how to get what is desired from a vacation ownership product is also important. Whether it…

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IRS Announces Critical Relief for Taxpayers Following Major Tax Law Changes

Revenue Procedure 2026-17  has been released, delivering urgent transition relief to taxpayers affected by the sweeping legislative changes in the One Big Beautiful Bill Act, commonly referred to as the OBBBA or OB3. This new guidance provides a fast-track framework for withdrawing or modifying elections under IRC §163(j)(7) and making late elections under §168(k)(7)—actions previously…

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Navigating Rising Insurance Costs in Hospitality

The hospitality industry has faced mounting challenges over the past five years, with insurance costs emerging as one of the most pressing issues for hotel owners and operators. In a recent episode of Withum’s Lodging Insights and Innovations Podcast, Lena Combs, Partner and leader of Withum’s Hospitality Services Team, sat down with Joey Masters, Senior…

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FAQs on Partnership Capital Accounts: Navigating Tax Complexities and Equity Valuations

Partnership capital accounts serve as a running record of each partner’s ownership in the business, showing how much value they’ve contributed and earned over time. These accounts track initial and ongoing capital contributions, each partner’s share of profits and losses, and any distributions received. This FAQ is designed to break down these concepts in a…

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