On July 4th, 2025, President Trump signed The One Big Beautiful Bill (OBBB) into law, which passed Congress through the reconciliation process. The legislation includes several tax changes and updates that build upon the Tax Cuts and Jobs Act of 2017, which was passed in Trump’s first term. The major updates include changes to the R&D Tax Credit, expansion of the Section 199a deduction, return of 100% bonus depreciation, increase in the SALT Cap, permanent extension of the New Markets Tax Credit, and much more.

In November 2024, the IRS announced that interest rates will decrease for the first quarter of 2025, which begins January 1, 2025. The changes outlined in IR-2024-290 outline all the relevant interest rate changes including various reductions.

At the end of December, President Biden signed the Consolidated Appropriations Act of 2023 into law. While the primary purpose of the legislation was to allocate federal funding for the coming year, it did contain several other parcels of legislation within. One of these was the Securing a Strong Retirement Act of 2021, more commonly referred to as the SECURE Act 2.0. The long-awaited legislation aimed at new retirement savings reform is based on many of the changes initially proposed both in the House and Senate. These include changes to plan design, modified RMD rules, matching student loan payments, and expanded eligibility for part-time employees.

Cyberattacks against businesses across the U.S. have sharply increased over the last year. Ransomware is the fastest-growing type of cybercrime that companies face, with annual losses exceeding $20B. For example, in May of 2021, hackers targeted the billing systems of America’s largest oil pipeline, Colonial Pipeline, causing gas price spikes and shortages across the East Coast. Later, hackers attacked the world’s largest meat producer, causing about ten of its plants to shut down temporarily

Starting a new business is an exciting time where entrepreneurs transform their new or innovative ideas from drawing board to production and delivery. During these initial stages, a business owner has to manage multiple demands and priorities to get key people, processes, and structures into place. For new manufacturing companies, this might mean investment in facilities, machinery, workers, and an ordering system