BE Informed

In this episode of the Brown Edwards Benefits Buzz podcast, host Brittany Quinn, audit partner at Brown Edwards, is joined by Katelyn Tolliver to discuss one of the most common — and preventable — compliance pitfalls facing employee benefit plans: eligibility and enrollment errors. Together, they break down how these errors occur across 401(k)s, ESOPs, and health and welfare plans, walking through real-world examples like incorrect service calculations, missed auto-enrollment settings, HR and payroll miscommunication, and TPA transitions gone wrong. They also cover why these errors matter from a compliance, financial, and employee trust standpoint, and share practical prevention strategies. Plus, they explain what plan sponsors should do if an error is discovered, including how the IRS's EPCRS correction program and the SECURE 2.0 Act's expanded self-correction provisions can help.

In this episode of BE Informed, I dive deep into the essential business provisions of the One Big Beautiful Bill Act, passed on July 4th, 2025. Joined by fellow tax manager Kevin Forget, we break down the significant changes, particularly the permanence of 100% bonus depreciation and the substantial increase in Section 179 expensing limits. We also explore the introduction of a new code section, 168N, which offers a 100% deduction on real estate for qualified production properties, a game-changer for manufacturing clients. With insights on how these provisions can impact your business strategies, this episode is a must-listen for anyone navigating the complexities of tax compliance and financial planning in today's landscape. Tune in for valuable insights that could shape your financial future.

Tax experts Jacob Reeves and Kevin Forget break down key business provisions from the One Big Beautiful Bill Act (OB3) passed on July 4th, 2025. Learn about expanded completed contract methods for residential construction, permanent opportunity zone extensions with new rural incentives, and enhanced low-income housing tax credits. Essential updates for construction industry clients and real estate investors.

In this episode of BE Informed, I dive into the significant business provisions of the One Big Beautiful Bill Act, also known as OB3, which was enacted on July 4, 2025. Join me as I explore the reinstatement of EBITDA in calculating the business interest deduction, a change that offers more flexibility for leveraged companies. I also discuss the expanded definitions impacting motor vehicle and trailer dealerships, including new regulations regarding floor plan interest. Additionally, I highlight the implications of capitalizing interest under the uni cap rules, especially for those in construction. This episode is packed with vital information to help you navigate these changes effectively, ensuring you stay ahead in your financial planning. Tune in for essential insights that could impact your business strategy.

In this episode of BE Informed, I delve into the significant changes brought by the One Big Beautiful Bill Act (OB3), specifically focusing on R&D tax deductions that business owners need to understand. Joined by tax manager Kevin Forget, we explore how the new provisions allow small businesses to immediately expense their R&D costs, reversing previous amortization requirements. We discuss the implications for companies with gross receipts under $31 million and highlight planning strategies, including the option to file superseded tax returns. Don't miss this opportunity to learn how to maximize your deductions and potentially secure refunds for prior years. Tune in for essential insights that could impact your bottom line.

In this episode of BE Informed, I dive into the significant updates surrounding the Employer-Provided Childcare Credit as outlined in the One Big Beautiful Bill Act, which was passed on July 4th, 2025. Join me, Jacob Reeves, as I discuss how the credit has been raised from 25% to 40% for employer-provided childcare costs, with small businesses benefiting even more at 50%. Notably, the maximum credit amount has skyrocketed from $150,000 to $500,000 per year, creating substantial opportunities for larger employers to reconsider their childcare offerings. If you're a business leader or involved in finance, this episode will equip you with crucial insights on how these changes can impact your organization and your employees. Tune in to stay informed and prepared!

Join tax experts Jacob Reeves and Kevin Forget from Brown Edwards & Company as they break down important business provisions in the One Big Beautiful Bill Act (OB3), passed July 4th, 2025. Learn about changes to paid family medical leave credits, excess business loss limitations, corporate charitable contribution floors, and other tax provisions affecting businesses and business owners.

In this episode of BE Informed, I dive into the implications of the Tax Cuts and Jobs Act (TCJA) extensions as outlined in the recently passed "One Big Beautiful Bill." Join me as I break down key provisions impacting individual and estate taxes, including the permanence of individual tax rates and increased standard deductions. Discover how these changes will affect your financial planning, from mortgage interest deductions to casualty loss limitations. I also discuss the implications of student loan discharge exclusions and what they mean for taxpayers. Whether you're a seasoned professional or navigating tax concerns for the first time, this episode offers valuable insights to help you understand how these legislative changes might benefit you. Tune in for a clear and informative discussion.

Brown Edwards tax experts Jacob Reeves and Marie Wimmer break down key provisions from the One Big Beautiful Bill (OB3), including the permanent increase of the estate and gift tax exemption to $15 million and the temporary expansion of the SALT cap to $40,000 through 2029. Learn how these changes may impact your tax planning and what pass-through entity owners need to know about state tax workarounds.

In this episode of BE Informed, I dive into the significant tax changes stemming from the One Big Beautiful Bill, focusing on charitable deductions and the Qualified Business Income (QBI) deduction. Join me as I explain how, starting in 2026, taxpayers who take the standard deduction will be able to deduct up to $1,000 for singles and $2,000 for joint filers in charitable contributions, a move aimed at enhancing charitable giving. I also cover the permanence of the 60% charitable contribution ceiling and the new $1,700 tax credit for educational scholarships. Additionally, I discuss the extended QBI deduction, its implications for pass-through entities, and the increased phase-out thresholds for specified service trades. Tune in for crucial insights that will help you navigate these changes effectively.

In this episode of BE Informed, join me, Jacob Reeves, as I unpack the intriguing new provisions of the One Big Beautiful Bill, particularly focusing on the innovative Trump accounts aimed at fostering savings for our youth. Designed for children born between 2025 and 2028, these tax-deferred accounts allow contributions up to $5,000 annually, with the federal government adding an initial $1,000 per eligible child. I’ll delve into how these accounts transition into traditional IRAs upon the child's 18th birthday, the implications for financial planning, and the potential role of nonprofits in supporting this initiative. Tune in to understand how this legislation aims to instill a culture of savings in the next generation and what it means for families navigating their financial futures.

In this episode of BE Informed, I delve into the significant changes brought about by the One Big Beautiful Bill regarding child care tax credits and ABLE accounts. Join me as I explore the enhancements to the Dependent Care Assistance Program, including an increase in the annual exclusion limit and an improved Child and Dependent Care Tax Credit rate rising from 35% to 50%. I also discuss the adoption credit, which now offers a maximum of $17,280, with a portion being refundable. Additionally, I cover updates to ABLE accounts, including higher contribution limits and eligibility for the saver's credit starting in 2026. Tune in for an informative discussion on how these changes can impact your financial planning and assistance in navigating child care costs.

In this episode of BE Informed, join me, Jacob Rives, as we delve into the new tax deductions set to take effect in 2025. We explore significant provisions from the One Big Beautiful Bill, including a $6,000 deduction for seniors aged 65 and older, and the introduction of a $25,000 deduction for qualified tips, designed to benefit service industry workers. Additionally, we discuss a new deduction for overtime compensation and the opportunity to deduct up to $10,000 in car loan interest for new vehicle purchases. Tune in for insights on eligibility criteria, income thresholds, and the temporary nature of these deductions, ensuring you stay informed and prepared for the upcoming tax landscape.

Brown Edwards tax managers Jacob Reeves and Marie Wimmer break down the major education-related tax provisions in the One Big Beautiful Bill. Learn about the new scholarship contribution tax credit, expanded 529 plan qualified expenses for K-12 and post-secondary education, and the employer student loan repayment exclusion up to $5,250.

Tax experts Jacob Reeves and Kevin Forget break down the key nonprofit provisions in the One Big Beautiful Bill Act (OB3) passed July 4th, 2025. Learn about the new tiered endowment tax affecting private universities with large endowments and the expanded excess compensation tax on nonprofit executives. These changes take effect in 2026—find out if your organization is impacted.

Senior tax managers Jacob Reeves and Marie Wimmer break down the major changes to the premium tax credit under the One Big Beautiful Bill (OB3). Learn about new eligibility requirements, enhanced verification processes starting in 2027, and the removal of repayment caps that could significantly impact taxpayers who receive marketplace health insurance subsidies.

In this episode of BE Informed, we explore the powerful intersection of charitable giving and tax strategy. Join me as we delve into the intricacies of Qualified Charitable Distributions (QCDs) and other tax-efficient giving strategies. Discover how your generosity can align with financial prudence, offering significant tax savings while supporting the causes you care about. We'll unravel the benefits of bunching donations, donor-advised funds, and the nuances of standard versus itemized deductions. Whether you're a seasoned philanthropist or new to charitable giving, this episode equips you with actionable insights to optimize your financial and philanthropic goals. Tune in to learn how to make informed decisions that enhance your charitable impact and financial health.

In this episode of BE Informed, I explore the tax implications of major life events such as marriage, divorce, welcoming a new child, and buying a home. These milestones, while deeply personal, can significantly alter your financial landscape. From changes in filing status and tax brackets to potential deductions and credits, understanding these shifts is crucial for effective tax planning. I'll guide you through the complexities, offering insights to help you navigate these changes with confidence. Whether you're embarking on a new chapter or preparing for one, this episode provides the clarity you need to make informed financial decisions. Join me as we delve into the intricacies of life's pivotal moments and their impact on your taxes.

In this episode of BE Informed, we delve into the intricacies of tax loss harvesting, a strategy used to optimize tax outcomes by offsetting gains with losses. I begin by explaining the fundamentals of tax loss harvesting, outlining how it can be a valuable tool for managing your tax liabilities. The discussion then moves to the mechanics of how tax loss harvesting works, providing listeners with a clear understanding of the process. Key considerations are highlighted, starting with the Wash Sale Rule, which is crucial to avoid disallowed losses. Timing is another critical factor, as strategic timing can significantly impact the effectiveness of tax loss harvesting. Additionally, I emphasize the importance of meticulous record-keeping to ensure compliance and maximize benefits. To illustrate the potential tax savings, I provide a quick example, demonstrating how tax loss harvesting can lead to substantial financial advantages. The episode wraps up with key takeaways, reinforcing the importance of understanding and implementing these strategies effectively. By the end of the episode, listeners will have a comprehensive overview of tax loss harvesting and how it can be applied to enhance their financial planning.

In this episode of BE Informed, we delve into the intricacies of retirement planning by exploring various types of retirement accounts. I begin by providing an overview of the most common retirement accounts, helping listeners understand the fundamental differences and benefits of each. We then discuss the current year's contribution limits, offering insights into how these limits can impact your retirement savings strategy. Maximizing contributions is a key theme in this episode, as I highlight the benefits of fully utilizing your contribution limits to enhance your retirement savings. For those who may be approaching the end of the year without having maximized their contributions, I share strategies for making last-minute contributions effectively. Additionally, I outline key dates and deadlines that are crucial for ensuring your retirement planning stays on track. As we wrap up the episode, I provide actionable steps to help you implement the discussed strategies, ensuring you are well-prepared to make informed decisions about your retirement savings. This episode aims to equip you with the knowledge and tools necessary to optimize your retirement planning efforts.

Join me on BE Informed as we explore the essential year-end strategies for real estate investors and property owners. In this episode, "Year-end Moves For Real Estate Investors And Property Owners," I delve into the critical planning steps needed to maximize tax benefits and optimize property management as the year draws to a close. We'll cover key topics such as understanding tax implications, leveraging depreciation strategies like cost segregation, and navigating passive activity rules. Additionally, I'll highlight the importance of meticulous record-keeping and effective expense planning to enhance your investment returns. Tune in to gain actionable insights and ensure your real estate portfolio is primed for success in the coming year.

Join me on BE Informed by Brown Edwards as we explore Tax Deferral Strategies for High-Income Earners. In this episode, I delve into the complexities of tax deferral and deduction acceleration, offering insights that can transform your financial planning. Discover how timing strategies can optimize your tax situation by deferring income and accelerating deductions, potentially lowering your taxable income and enhancing financial outcomes. We'll discuss the benefits of strategic income recognition, the use of retirement accounts, and the impact of the Alternative Minimum Tax. Whether you're a finance professional or a high-income earner, this episode provides valuable tools to navigate tax planning with confidence. Tune in to learn how these strategies can play a pivotal role in achieving your financial goals and securing a robust long-term financial strategy.

In this episode of BE Informed, we delve into the intricacies of tax-smart investing, particularly as the year-end approaches. I begin by introducing the concept of tax-smart investing, emphasizing its importance for maximizing financial gains. We explore asset location strategies, which involve strategically placing investments in accounts that optimize tax efficiency. This is followed by a recap of tax-loss harvesting, a technique that can help offset gains and reduce taxable income. Next, we discuss dividend considerations, highlighting how different types of dividends can impact your tax situation and investment strategy. The episode also covers Roth conversion opportunities, explaining how converting traditional retirement accounts to Roth accounts can be beneficial under certain circumstances. Finally, I wrap up the episode by summarizing the key points discussed, providing listeners with actionable insights to enhance their investment strategies as the year comes to a close.

In this episode of BE Informed, we delve into the crucial topic of tax deductions that every small business owner should be aware of. We begin by discussing the importance of year-end expense planning, emphasizing how strategic planning can significantly impact a business's financial health. We will then explore various strategies for accelerating deductions, providing listeners with actionable insights to optimize their tax positions.

In this episode of "BE Informed by Brown Edwards," we delve into the intricacies of maximizing tax benefits through charitable giving. I begin by introducing the fundamental relationship between charitable contributions and tax deductions, highlighting the choice between taking the standard deduction and itemizing deductions. This decision is crucial for taxpayers aiming to optimize their tax savings. We then explore several strategies for tax-efficient giving. One such strategy is "bunching donations," which involves consolidating charitable contributions into a single tax year to exceed the standard deduction threshold. Another effective approach is utilizing donor-advised funds, which allow donors to make a charitable contribution, receive an immediate tax deduction, and recommend grants from the fund over time. Additionally, we discuss qualified charitable distributions, a method particularly beneficial for individuals over 70½, allowing them to donate directly from their IRAs to reduce taxable income. Record-keeping is emphasized as an essential component of charitable giving, ensuring that all contributions are properly documented to substantiate deductions. As we wrap up the episode, I summarize the key points, reinforcing the importance of strategic planning in charitable giving to maximize tax benefits while supporting meaningful causes.