For many business owners, executives, investors, and families, relocating from a high-tax state to a low- or no-income-tax state can create meaningful state tax savings. The opportunity has become more prominent as the federal deduction for state and local taxes (SALT) remains limited and remote work arrangements make it easier for individuals to live and work in different jurisdictions.

Individual investors, family offices, and investor groups often incur advisory, legal, accounting, appraisal, and similar costs in connection with investment activity. Since 2018, individuals have not been able to deduct miscellaneous itemized deductions, such as many investment management expenses. As a workaround, however, some expenses may be considered capital expenditures under Sec. 263 rather than nondeductible Sec. 212 investment expenses. When properly capitalized, those costs can increase tax basis and may reduce future gain, or increase loss, when the related investment is later sold.

Delaware remains the most popular state of incorporation for businesses of all sizes, including startups and family investment vehicles to Fortune 500 companies. What some corporate owners and advisors overlook, however, is that forming a corporation in Delaware creates ongoing Delaware compliance obligations, regardless of whether the corporation ever conducts business in the state. Understanding the distinction between Delaware’s corporate income tax return and the separate Delaware Division of Corporations annual report and franchise tax is critical to avoiding penalties, interest, and potential loss of good standing.

The Joint Committee on Taxation’s June 2026 report, Present Law Relating to Selected Sports Industry Tax Issues (JCX-19-26), addresses selected federal tax issues in the sports industry, highlighting two main tax-exempt organization concerns that matter for donors, sponsors, universities, and name, image, and likeness (NIL) collectives: whether an NIL collective can qualify as a charitable organization under Sec. 501(c)(3) and when athletics-related revenue creates unrelated business income tax (UBIT) exposure.

The Research and Development Tax Credit (R&D Tax Credit) under Sec. 41 of the Internal Revenue Code is a federal tax incentive available to companies that perform qualified research activities in the United States. As Artificial Intelligence (AI) continues to transform business operations, organizations across virtually every industry are investing in developing, customizing, integrating, and improving AI-enabled solutions. While often associated with technology companies, these activities increasingly occur across a broad range of industries and business functions.

State and local incentives can reduce costs for aerospace and defense firms.

The Illinois 2027 omnibus budget bill (S.B. 3019), signed into law by Governor J.B. Pritzker on June 16, 2026, enacts several income tax changes affecting businesses and their owners beginning with the 2027 tax year. The tax law changes will impact the Pass-Through Entity Tax (PTET), C corporations with net operating losses (NOLs), sellers of qualified small business stock (QSBS), and companies claiming the Illinois Research and Development (R&D) Credit.

Andersen Consulting announces a Collaboration Agreement with Smartbridge, a Texas-based digital and AI technology firm, enhancing its capabilities in data and analytics, and digital transformation services.

AI & cybersecurity are reshaping the modern family office across entities, stakeholders, data, and risk. While AI is unlocking new efficiencies and insight, it is also raising new questions around cybersecurity, oversight, and the stewardship of highly sensitive information.