BW INSIGHTS

What “The Big Beautiful Bill” Means for Estate Planning in 2025 and Beyond

By Robert Hodges | 07.10.2025
On July 4, 2025, President Trump signed H.R.1“The Big Beautiful Bill” into law. This broad tax-and-spending reconciliation package solidifies and extends the Tax Cuts and Jobs Act (TCJA) enacted in 2017. Additionally, the sweeping implications of the legislative package touch economic policy, immigration, Medicaid, renewable energy tax credits and... Read More

ONE BIG BEAUTIFUL BILL PASSES: How Could the Income Tax Changes Impact You?

By Christopher Nuss | 07.07.2025
On the day before Independence Day, the Big Beautiful Bill (the Bill) passed the House, after passing the Senate two days earlier. President Trump signed the Bill on the 4th of July. Despite Republican control of both the House and the Senate, many were concerned about the cost of the Bill, estimated at $3.4 trillion, so passage was not automatic.... Read More

Iowa Sales Tax Changes for Data Centers

By Tim C. Reilly | 06.13.2025
Governor Kim Reynolds signed House File 976 on June 6, 2025. This bill originated from the Department of Revenue. While the Department’s own proposals were noncontroversial, the legislature added significant language impacting sales and use tax exemptions for data centers. Iowa has provided a set of three sales tax exemptions for data centers for... Read More

ESOP SELLER PERSPECTIVES – BENEFITS OF SELLING TO AN ESOP

By Drew D. Larson & Cynthia Boyle Lande | 12.09.2024
Selling a business is a monumental decision for any owner. It’s not just a financial transaction; it involves the legacy, the workforce, the community, culture, and the future of the enterprise. One increasingly popular method of transitioning ownership is through an Employee Stock Ownership Plan (ESOP). This approach has numerous advantages for... Read More

SECTION 1202 GAIN EXCLUSION IN SALES TO ESOPS

By Drew D. Larson & Cynthia Boyle Lande | 11.11.2024
ESOPs provide many tax advantages for both sellers and the ESOP-owned company. In addition to all of the ESOP-specific benefits, sales to ESOPs can also potentially qualify for gain exclusion under Section 1202 of the Internal Revenue Code. Benefits of Section 1202 Section 1202 provides significant tax benefits for sellers of qualified small... Read More

Navigating ESOP Distributions: Method, Form, and Policy

By Cynthia Boyle Lande, Drew D. Larson & Sarah E. Herz | 10.22.2024
Understanding ESOP (Employee Stock Ownership Plan) distribution requirements are crucial for compliant operation of your ESOP and managing distribution and repurchase obligations. ESOP plan designs and distribution terms can vary significantly, but all ESOPs are subject to the Employee Retirement Income Security Act (ERISA) and tax rules. In this... Read More

ESOP SELLER PERSPECTIVES – UNDERSTANDING SECTION 1042 IN ESOP SALES

By Cynthia Boyle Lande & Drew D. Larson | 10.10.2024
Understanding Section 1042: A Tax-Efficient Strategy for ESOP Sales In the realm of Employee Stock Ownership Plans (ESOPs), Section 1042 of the Internal Revenue Code offers a significant tax advantage for business owners looking to sell their company to an ESOP. This provision allows for the deferral of capital gains taxes upon the sale of... Read More

IRS Issues Guidance on Matching Contributions for Student Loan Payments

By Maggie Simonson Schild & Cynthia Boyle Lande | 09.16.2024
Background On August 19, 2024, the IRS issued Notice 2024-63 (the “Notice”) to provide highly anticipated interim guidance on Section 110 of Secure 2.0 Act (“Secure 2.0”), which was enacted in 2022. Secure 2.0 amended the definition of matching contributions to allow an employer to make matching contributions beginning in 2024 to 401(k), 403(b),... Read More

Questions about the Property Tax Sale

By Katie McKain Tegtmeier | 08.12.2024
What is a Tax Sale? Tax sales are used by the County Treasurer to collect unpaid and delinquent real estate taxes. The tax sale is generally held on the third Monday of June every year. At the sale, the County Treasurer offers for sale each parcel with delinquent taxes for the total amount of taxes, interest, fees, and costs due against each... Read More

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