Your business startup costs and organizational costs will depend on the type of business you are starting, but generally include the costs for setting up your business.

As assets such as Bitcoin and Ethereum become household names, many veteran participants in the digital asset industry are moving on to the comparatively greater volatility and potential gains offered by alternative digital assets (Altcoins), non-fungible tokens (NFTs), and other projects.

Over the past decade, the traditional brick-and-mortar family office has been steadily giving way to the virtual family office.

Family businesses are the backbone of economies worldwide. In the United States alone, they account for nearly 60% of employment and 78% of new job creation. Despite their critical role, many family businesses face an uncertain future due to a lack of succession planning. Research shows that only about 30% of family businesses survive into the second generation, and just 12% into the third. The underlying issue? An absence of thoughtful, structured succession planning.

The One Big Beautiful Bill creates several opportunities and removes the fear of expiring provisions to help preserve family wealth and long-term planning for owner-operated businesses.

By proactively evaluating triggering events and preparing for interim testing, companies can ensure that their financial statements remain an accurate reflection of economic reality.

Before engaging in transactions in or investments involving cryptocurrencies, it is important to consult with a tax expert specializing in this area.

A hedge fund, at any point in time, may have realized and/or unrealized capital items. As an open-ended investment vehicle, partners may enter and exit the fund throughout the year. The question then becomes, how are these capital items fairly allocated among the partners? The allocation designed for hedge funds tackles these complex scenarios of partner turnover and capital item generation to smartly track and fairly allocate. The allocation method is called aggregate allocations, which allocates capital items based on each partner’s disparity.

To help you navigate this evolving tax landscape, Andersen has created a resource that breaks down the most significant changes for your business.