PKF North America News

Reading Time: 5 minutes 45 seconds No doubt, the victims of Southern California’s wildfires of January 2025 are still catching their breath and trying to envision how they will rebuild their lives after the loss of homes, businesses and communities. Inevitably, some will make the difficult decision not to rebuild and will move on. For … Continued The post For California Wildfire Victims, a 1033 Exchange Offers Flexibility and Tax Benefits first appeared on JLK Rosenberger.

As a network that is committed to supporting our people achieve their potential, we’re delighted to announce a raft of partner and director promotions within the PKF Global family.

In the complex landscape of mergers and acquisitions (M&A), purchase price allocation (PPA) plays a pivotal role when a transaction qualifies as a business combination. It is a critical accounting process that involves allocating the purchase price of an acquired company into its various components, including tangible and intangible assets, and liabilities. This allocation is … Continued The post Understanding Purchase Price Allocation in Mergers and Acquisitions first appeared on JLK Rosenberger.

Reading Time: 3 minutes The IRS recently published the draft version of IRS Form 6765 for filing the R&D Tax Credit. The original draft form included additional information to submit when filing original tax returns. The revised draft appears to incorporate several of the comments received and is designed to reduce taxpayer burden and optimize … Continued The post Changes to Claiming the R&D Tax Credit on Original Returns first appeared on JLK Rosenberger.

Welcome to our 2025 California Construction Industry Forecast. The data in this report is obtained through our non-exclusive license with Construct Connect, one of the largest construction data providers in the U.S., and our own proprietary research and internal data. 2025 looks to be another strong year for the California Construction Industry, and according to … Continued The post 2025 California Construction Industry Forecast first appeared on JLK Rosenberger.

The U.S. Supreme Court on Thursday, January 23, 2025, lifted an injunction that had put on hold a federal anti-money laundering law – the Corporate Transparency Act (CTA) – as a legal challenge proceeds in a lower court. However, because there are multiple legal challenges moving through the courts, there is still an injunction in … Continued The post BOI reports remain voluntary despite Supreme Court action first appeared on JLK Rosenberger.

Reading Time:  2 minutes 45 seconds A 529 account is a great tool for saving toward college and higher education expenses for your children or other family members. However, you may find yourself with leftover funds if no other family members plan to attend college. Withdrawing those remaining funds for non-educational expenses can result in … Continued The post 529 Plan Leftovers? Explore Your Options first appeared on JLK Rosenberger.

First, let us say that if you suffered the loss of your home or business in one of the wildfires, we offer our profound condolences, and your JLK Rosenberger advisors are available to answer your questions about federal and state tax relief and other aid programs that may benefit you. As Californians – specifically residents … Continued The post Federal and California Tax Relief Available to Help Wildfire Victims Rebuild first appeared on JLK Rosenberger.

Key Points: If your not-for-profit wants to make an organization-wide New Year’s resolution for 2025, how about this: Strengthen our brand. Although branding strategies usually are associated with the for-profit […]

Reading Time: 2 minutes Background Amended returns claiming a refund for R&D tax credits filed after January 10, 2022, have a new process to follow. Specifically, the IRS mandated 5 pieces of information that were required to be submitted along with the amended return. These included: List the business components for which a claim is … Continued The post Refund claim update – R&D Refund Claim Transition Period Extended to January 10, 2026 first appeared on JLK Rosenberger.

Key Points: Medicare health insurance premiums can add up to big bucks — especially if you’re upper-income, married, and you and your spouse both pay premiums. Read on to understand […]

We’re excited to launch a new 12-part webinar series on transfer pricing, hosted by German member firm PKF Fasselt.

Your not-for-profit organization likely has at least one special event planned for 2025. Whether it’s a formal dinner dance, holiday gift market, 5K run, industry conference or other type of […]

Key Points: The reelection of Donald Trump as President and control of the U.S. Congress by Republicans are anticipated to usher in changes that could financially impact the not-for-profit sector. […]

Key Points: Believe it or not, there are ways to collect tax-free income and gains. Here are some of the best opportunities to put money in your pocket without current […]

Key Points: 1. Evaluate whether to take the standard deduction or itemize for 2024, considering changes to deduction thresholds. 2. Use bunching strategies to maximize deductions, especially for medical expenses […]

Key Points: The SECURE 2.0 Act made some enhancements to IRA qualified charitable distributions (QCDs) that may benefit your not-for-profit organization — so long as donors know about them. You can […]

Key Points: Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those […]