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Recent Articles
How OBBB Will Reshape Itemized Deductions for High-Income Earners
At a Glance The One Big Beautiful Bill (OBBB), enacted July 4, 2025, significantly reshapes itemized deductions for high-income taxpayers. Key provisions include a new
SECURE 2.0 Act Current Timeline for ESOPs, KSOPs, and 401(k)s
At a Glance The SECURE 2.0 Act brings several retirement plan changes that directly and indirectly affect ESOP-owned businesses. While many provisions target 401(k) and
Federal ESOP Legislation Update: Key 2025 Bills and What They Mean for Employee-Owned Companies
At a Glance This article summarizes recent federal legislation affecting employee stock ownership plans (ESOPs), including bills passed by the Senate in 2025 and others
Which Calculated Risks Should You Consider?
Minimizing risks is a goal that many business owners have. But sometimes, there are instances where taking calculated risks becomes a necessity, especially when you
Understanding the AGI Reduction for Charitable Contributions Under the OBBB
At a Glance The One Big Beautiful Bill (OBBB) introduces an annual reduction equal to 0.5% of adjusted gross income (AGI) for charitable contribution deductions
Consider an SOC Report to Help Manage Supply Chain Risks
Originally published in Manufacturer, ARB’s Manufacturing Industry newsletter. The pandemic revealed just how fragile global supply chains can be. In addition to contagious diseases, various
OMB Extends Due Date for Certain Single Audits
The Office of Management and Budget (OMB) issued a memorandum on March 19th, which announced a six-month extension of the due date for certain single
Congress Passes the PPP Extension Act of 2021
Update as of March 30, 2021 On March 30, 2021, President Biden signed the PPP Extension Act of 2021. The Paycheck Protection Program (PPP) loan
American Rescue Plan Act of 2021 Expands Nonprofit PPP Eligibility
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARP) into law, providing several tax relief provisions for individuals, businesses,
State of Maine to Conform to Federal Treatment of PPP Loans & Other Tax Relief Provisions
On March 18, 2021, Maine Governor Janet Mills signed the fiscal year 2020-2021 supplemental budget into law. The supplemental budget includes legislation ruling that the
Treasury & IRS Extend Federal Individual Income Tax Due Date for 2020 Tax Year; State of Maine Follows Suit
The Treasury Department and IRS extended the federal income tax filing due date for individuals for the 2020 tax year to May 17, 2021. The State of Maine also extended the due date for 2020 Maine income tax returns to May 17, 2021.