LATEST News
Peruse our news archive to stay informed on recent tax changes, tax-related current events, tips for smart financial management, and news from our firm.
Understanding the $6,000 Additional Senior Deduction in the OBBBA
Written by Alex Bartee On July 4th, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA), which has been deemed by many to be one of the “largest tax cuts in American history”. This bill includes many provisions which will have a significant...
Understanding the SALT CAP Under the OBBBA Act
Written by Andrew Sonnier The One Big Beautiful Bill Act (OBBBA) was signed into law by President Donald Trump in July of 2025. The bill presents significant changes to the tax code in the United States. Among these provisions is the increase in the State and Local...
FLP on Trial: Tax Court Denies Valuation Discounts
A family limited partnership (FLP) can be a powerful tool for consolidating and managing family wealth while reducing gift and estate taxes, in part through valuation discounts. However, the IRS closely scrutinizes these arrangements, especially when they involve...
Understanding the “No Tax on Tips” Provision in the OBBBA
Written by Landon Martin The One Big Beautiful Bill Act (OBBBA) passed earlier this year, introduced significant changes to the tax landscape, impacting businesses and individuals alike. Understanding these provisions is essential for compliance and strategic...
Beyond EBITDA: Key Factors that Affect Business Value
Written By Grace Broussard Obviously, financial statements play a critical role in valuing businesses for mergers and acquisitions (M&As). Prospective buyers turn first to financial metrics — such as earnings before interest, taxes, depreciation and amortization...
Minimize Your Business’s 2025 Federal Taxes by Implementing Year-End Tax Planning Strategies
The One Big Beautiful Bill Act (OBBBA) shifts the landscape for year-end tax planning. The law has significant implications for some of the most tried-and-true tax-reduction measures. It also creates new opportunities for businesses to reduce their 2025 tax liability...
Understanding the Auto Loan Interest Deduction Under the One Big Beautiful Bill Act
By Grace Broussard, AccountantThe One Big Beautiful Bill Act (OBBBA) was passed on July 4, 2025, enacting a large set of federal taxation changes. Darnall, Sikes & Frederick would like to provide clarity on a number of the new provisions so that individuals like...
Valuation is the Foundation of Every Sale-Ready Business
Are you thinking about selling or merging your business? In September 2025, the Federal Reserve Bank lowered its benchmark rate by 0.25% and hinted at possible additional rate cuts in the coming months. Lower rates, combined with favorable tax law changes, could spark...
New Information Return and Payroll Tax Reporting Rules Require Attention
The One Big Beautiful Bill Act (OBBBA) introduced or updated numerous business-related tax provisions. The changes that are likely to have a major impact on employers and payroll management companies include new information return and payroll tax reporting rules....