Author name: WU Content

Investing in Qualified Small Business Stock Now Offers Expanded Tax Benefits

Individual Tax / By

By purchasing stock in certain small businesses, you can diversify your investment portfolio. You also may enjoy preferential tax treatment, some of which is getting even better under the One Big Beautiful Bill Act (OBBBA) that was signed into law in July: Qualified small business (QSB) stock now offers more tax-saving opportunities. QSB defined A QSB generally is a U.S. C corporation that meets two requirements, one of which has been eased by the […]

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6 Pertinent Provisions Of The OBBBA For Construction Companies

Construction, Consulting, Small or Family‑Owned Businesses / By

It’s been about a month since the One, Big, Beautiful Bill Act (OBBBA) was signed into law. Now that the dust has settled, construction business owners and their leadership teams can begin to really pinpoint the provisions most pertinent to their operations. Here are six to study up on. 1. Accounting exemption For tax years beginning on or after July 4, 2025, contracts entered into for residential construction projects, per the amended definition under the OBBBA, generally qualify for an

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How Businesses Can Fund A Buy-Sell Agreement

Construction, Manufacturing, Small or Family‑Owned Businesses / By

Businesses with more than one owner benefit from having multiple viewpoints and varying skill sets. However, they also face serious risks of uncertainty and conflict if one of the owners suddenly departs or undergoes a major life change. A carefully crafted buy-sell agreement can guard against these risks — if it’s securely funded. Transfer guidelines A “buy-sell” (as it’s often called) is a legally enforceable contract among a company’s owners that sets guidelines for

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New Tax Law Creates An Additional Accelerated Depreciation Opportunity For Eligible Manufacturers

Business Tax, Manufacturing, Small or Family‑Owned Businesses / By

The One Big Beautiful Bill Act (OBBBA) introduces a new — but temporary — tax break for manufacturers. The qualified production property (QPP) allowance gives manufacturers a strong incentive to make capital investments in new production facilities. Here’s what you need to know. Bonus depreciation for QPP Generally, first-year bonus depreciation is limited to tangible property with a recovery period of 20 years or less. But the OBBBA adds Section 168(n) to

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Should a Living Trust Be Part of Your Estate Plan?

Estate Planning, Individual Tax / By

As its name suggests, a living trust (also known as a revocable trust) is in effect while you’re alive. It’s a legal entity into which you title assets to be managed during your lifetime and after your death. As the trust’s grantor, you typically serve as the trustee and retain control over the assets during your lifetime. Thus, you can modify or revoke the trust at any time, allowing for adjustments as circumstances or intentions change. Let’s take a closer look at why you should consider including one in your estate plan. Setting up a living trust To create a living trust,

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A Tax Guide to Choosing the Right Business Entity

Business Tax, Construction, Consulting, Manufacturing, Small or Family‑Owned Businesses / By

One of the most critical decisions entrepreneurs make when starting or restructuring a business is choosing the right entity type. This choice directly impacts how the business is taxed, the level of administrative complexity and regulatory compliance obligations. While legal liability considerations also matter, we will focus on tax implications. For liability advice, consult a legal professional. Whether launching a new venture or reassessing your current structure, understanding how each entity is taxed can help you make strategic and compliant decisions. Here’s a brief overview of five

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Receivables Rx: Key Metrics To Assess The Health Of Your Cash Flow

Auditing & Attestation, Client-Accounting-Services (CAS), Construction, Consulting, Healthcare, Manufacturing, Small or Family‑Owned Businesses / By

For many businesses, accounts receivable (AR) is one of the largest assets on the balance sheet. It represents the cash you’ve earned but haven’t yet collected. Efficient AR management is critical for maintaining healthy cash flow, reducing bad debt and fueling growth. But a key question often goes unasked: How do your company’s receivables compare to others in your industry? This is where benchmarking comes in. Why benchmarking matters Benchmarking is the process of comparing your company’s financial and operational metrics against those of peers in your industry. For receivables,

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The Search Is On: Finding An Independent Auditor

Nonprofits / By

Even if your not-for-profit isn’t legally required to obtain independent audits, such audits can enhance financial transparency, increase accountability and help you build trust with your stakeholders. But how do you find a truly independent auditor? Ensuring independence requires more than hiring an outside firm. The American Institute of Certified Public Accountants (AICPA) Code of Professional Conduct can help guide you. On the face of things The AICPA

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Lower Your Self-Employment Tax Bill by Switching to an S Corporation

Business Tax, Construction, Consulting, Individual Tax, Manufacturing, Small or Family‑Owned Businesses / By

If you own an unincorporated small business, you may be frustrated with high self-employment (SE) tax bills. One way to lower your SE tax liability is to convert your business to an S corporation. SE tax basics Sole proprietorship income, as well as partnership income that flows through to partners (except certain limited partners), is subject to SE tax. These rules also apply to single-member LLCs that are treated as sole proprietorships for federal tax purposes and multi-member LLCs that are treated as partnerships for federal tax purposes. In 2025, the maximum

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A Family Business Owner Needs Both an Estate Plan and a Succession Plan

Construction, Estate Planning, Individual Tax, Manufacturing, Small or Family‑Owned Businesses / By

For family business owners, an estate plan and a succession plan often work in tandem, ensuring that both personal and business affairs transition smoothly. Your estate plan can help ensure that your assets are distributed according to your wishes and provide contingencies in the event of your death or disability before retirement. Your succession plan can pave the way for a seamless transfer of leadership upon your retirement. Here’s how they work together. Two types of succession One reason transferring a family business is so challenging is the distinction

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