Profits interests can be a tax-efficient way for businesses structured as partnerships and limited liability companies to attract and retain talent when cash compensation is limited. This article explains how profits interests work, how they differ from capital interests, and the requirements for tax treatment. It also highlights the considerations critical to success.

The One Big Beautiful Bill Act introduced Trump Accounts, a new tax-advantaged savings option designed to help children build long-term wealth. With potential government seed funding, tax-deferred growth and contribution opportunities from families and employers, these accounts create new planning opportunities. They also require careful attention to eligibility rules, contribution limits and future tax implications.

Selling appreciated real estate can trigger significant taxes that reduce reinvestment opportunities. This article explains how Section 1031 like-kind exchanges may allow property owners to defer taxes. It also outlines eligibility requirements, timing rules and potential estate planning benefits to consider.

This update highlights recent tax law changes expanding disaster relief, including broader eligibility for personal casualty loss deductions. It also outlines how Crummey trusts can support tax-efficient gifting strategies and reviews key tax responsibilities business owners should address when closing a business.