Legislative & Regulatory Updates
Executive Order to Reschedule Cannabis: What It Means for IRC 280E
On December 18, 2025, President Trump issued an Executive Order directing the Department of Justice (DOJ) to expedite the rescheduling of cannabis to Schedule III under the Controlled Substances Act (CSA). This action follows the Department of Health and Human Services’ (HHS) 2023 recommendation and represents a major turning point for state-legal cannabis businesses. Why […]
Cannabis Rescheduling: What It Means for Operators and Investors—and How We’ll Help You Navigate It
The federal government’s anticipated move to reclassify cannabis from Schedule I to Schedule III under the Controlled Substances Act is one of the most consequential policy shifts the industry has seen to date. While this change may promise tax relief, expanded research opportunities, and improved access to capital, it also likely introduces stricter federal oversight […]
Understanding the One Big Beautiful Bill’s Effects on Nonprofits
On July 4, 2025, President Trump signed into law H.R.1, commonly known as the One Big Beautiful Bill (OBBB) Act. The legislation includes several provisions that may affect charitable organizations. Corporate Giving Floor. Under the OBBB, corporations can claim a charitable deduction only if contributions exceed one percent of taxable income. Corporations may carry forward […]
Positive Changes for R&E Tax Deductions Under OBBB
For decades, companies have navigated the complexities involved in deducting research and experimental expenditures. The One Big Beautiful Bill (OBBB) Act with the newly released Revenue Procedure 2025-28 changes that landscape. Starting with tax years after December 31, 2024, domestic research and development expenses may be deducted immediately, replacing the prior five-year capitalization and amortization […]
Life Sciences Gain R&D Tax Relief Under OBBB
Life sciences companies face some of the highest costs and longest timelines for research and development. The One Big Beautiful Bill (OBBB) Act, with the newly released IRS Revenue Procedure 2025-28, eases some of the tax complexity around these expenditures. Starting with tax years after December 31, 2024, domestic research and development expenses may be […]
What OBBB Means for Estate Tax and Wealth Transfer
The One Big Beautiful Bill (OBBB) Act raises the federal estate tax exemption to $15 million per individual beginning January 1, 2026, a permanent change indexed for inflation. For many families, this eases the prospect of federal estate tax altogether. Yet planning remains as vital as ever. The increase does not replace the value of […]
California Medicaid Reforms Shape Future for Community Health Centers
Overview of California Medicaid Reforms and CalAIM California has relied on federal waivers to expand Medicaid and improve care delivery. In December 2015, the state secured a 1115 Medicaid waiver under Section 1115(d)(2) of the Social Security Act. Known as Medi-Cal 2020, the waiver was designed to transform the system by improving care quality and […]
Qualified Small Business Stock Changes: Higher Caps, Shorter Holding
Tucked within the One Big Beautiful Bill (OBBB) Act is a meaningful update to the tax code: revisions to the Qualified Small Business Stock (QSBS) gain exclusion under Section 1202. Long used as a tool to encourage innovation and investment in early-stage businesses, the QSBS rules have now been clarified and expanded. The changes are […]
New Mortgage Interest Rules Offer Opportunities for Individual Taxpayers
How the OBBB Act Changes Mortgage Interest Deductions The rules for deducting mortgage interest have shifted in ways that may prompt many individual taxpayers to rethink their year-end tax planning. The newly enacted One Big Beautiful Bill (OBBB) Act locks in a key limit on acquisition debt, adds a deduction for private mortgage insurance beginning […]