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Among the cacophony of campaign promises floated by then-candidate Trump prior to the 2024 presidential election, one drum beat steadily: A vow to implement a no-tax-on-tips and no-tax-on-overtime law.

Martin Kuhn headshot

Martin C. Kuhn, Marquette 2004, Marquette 2004, is the founder of Kuhn Law, in Milwaukee, where he has focused on labor and employment for 19 years.

On July 4, 2025, oversized sharpie in hand, President Trump signed into law the “One Big Beautiful Bill Act” (OBBB),[1] endeavoring…
Continue Reading One Big Beautiful Bill’s Impact on Tips and Overtime

July 30, 2025

On July 10, 2025, Missouri Governor Mike Kehoe signed into law House Bill 594 (the “Bill”), which effectively eliminates the capital gains income tax for individuals and an income tax deduction for corporations. Capital gains are the profit realized from the sale of capital assets such as stocks and bonds, other personal property, and many kinds of real estate.

The law applies to short- and long-term capital gains, meaning individuals may deduct 100% of federally reported

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Continue Reading Missouri Eliminates Income Tax on Capital Gains for Individuals

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On July 4, 2025, President Trump signed into law a major budget reconciliation measure known as the “One Big Beautiful Bill Act” (“OBBBA”). Enactment of OBBBA answers several months of speculation regarding how Congress would implement key elements of the Administration’s legislative agenda.

OBBBA will have broad implications for the nation as a whole. Much of the public attention has centered on certain high-profile provisions, such as extending or making permanent several provisions from the 2017 Tax…
Continue Reading One Big Beautiful Bill Act: Notable Tax Changes for Organizations and Individuals in the Health Care Sector

On July 4, 2025, President Trump signed the “One Big Beautiful Bill Act” into law.  H.R. 1, 119th Cong. (2025), Pub. L. No. 119-21 (the “Act”).  The Act makes significant changes to the tax code that will impact individuals and businesses.  Below are five beautiful bullet points you should know about the Big Beautiful Bill.

  • SALT Deduction Increase:  The Act increased the maximum State and Local Tax (SALT) deduction from $10,000 to $40,000 for the next five years. Then,

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Continue Reading Big Beautiful Bullet Points on the Big Beautiful Bill

Within the One Big Beautiful Bill Act, signed into law on July 4, 2025, is the new “No Tax on Overtime” rule that may positively impact many hourly workers as it relates to their payment of federal taxes starting in 2025. However, this change in the law also presents new challenges for employers and ambiguities that will need to be addressed.

For starters, the new overtime provision is limited to overtime wages paid by employers to employees qualifying for…
Continue Reading Issues Related to the “No Tax On Overtime” Provision

word TAXES written on wooden cube block stack on black background, business concept
word TAXES is written on wooden cubes standing on a black background

The U.S. tax code just underwent its most significant overhaul since 2017. On July 4, 2025, President Donald J. Trump signed the One Big Beautiful Bill (OBBB) into law, a far-reaching tax reform law that touches nearly every corner of the tax system, including estate and gift taxes, business deductions, international provisions, and individual income tax rules.

Some provisions apply as early as tax year 2025, while others begin in 2026 or later, making it important to understand the…
Continue Reading One Big Beautiful Bill Becomes Law: What the Sweeping Tax Reform Means for You and Your Business

As you may be aware, on July 4, 2025, a landmark piece of tax legislation – commonly referred to as “One Big Beautiful Bill Act” – was signed into law, ushering in some of the most significant changes to the tax code in recent years. This sweeping bill touches nearly every corner of the tax landscape, with key highlights including a substantial increase to the estate and gift tax exemption, the elimination of federal income tax on tips and…
Continue Reading One Big Beautiful Bill Act: Stay Tuned for Our Client Alert Series

By: Luis Padilla

On July 4, 2025, President Trump signed into law a budget and reconciliation package known as the One Big Beautiful Bill Act (OBBBA).

The following are provisions of interest that will have an Employee/Employer impact.

  • Family and Medical Leave Credits: the paid family and medical leave credit established under the Tax Cuts and Jobs Act become permanent under the OBBBA. Employers that offer this benefit can offset the costs with credit, except for those benefits mandated

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Continue Reading Employment Law implications of Trump’s New One Big Beautiful Bill Act (OBBBA)

The ever-changing landscape of state government requires businesses across all industries to stay informed on the happenings in Madison. Welcome to the July issue of the Capitol Connection.

 In this issue:

  • Governor Tony Evers Signs 2025–2027 Wisconsin Biennial Budget into Law
  • K-12 Education and Child Care
  • UW System and Technical Colleges
  • Tax Relief for Household Affordability
  • Investments in Tourism Industry
  • Health care and Public Health
  • Transportation and Infrastructure Development
  • Support for Veterans and Military Families
  • Agriculture, Conservation, and Clean

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Continue Reading Capitol Connection, July 2025

How the Big Beautiful Bill Will Impact Your Employee Benefits and Compensation Strategy

The Big Beautiful Bill, signed into law by President Trump on July 4, 2025, spans nearly 900 pages and touches numerous aspects of federal policy. Nestled within this lengthy legislation are employee benefits provisions that will require employers to navigate new rules, opportunities, and compliance requirements.

From additional tax deductions for workers to new savings vehicles for children, the benefits-related sections introduce changes that span

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Continue Reading How the Big Beautiful Bill Will Impact Your Employee Benefits and Compensation Strategy

Earlier this year, many low-income taxpayers were elated to learn about the possibility that tipped wages could receive federal income tax relief under the No Tax On Tips Act. Under President Trump’s “One, Big Beautiful Bill,” low-income taxpayers may have more to cheer for—or, more possibly, reasons for caution.
The Latest on the No Tax on Tips Act
Recently, the Ways and Means Committee released a draft version of the tax bill, followed by supplemental amendments. In this bill,…
Continue Reading No Tax on Tips—But What About Overtime and Social Security?

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In a 9-0 decision authored by Justice Sonia Sotomayor, the U.S. Supreme Court overturned a ruling by the Wisconsin Supreme Court, which held that Catholic Charities Bureau Inc. (the “Charities) and its subsidiaries were not exempt from making payments to the state’s unemployment insurance program.

The Wisconsin Court held that the group’s work was not religious. The U.S. Supreme Court held that denying the exemption violates the First Amendment

The appellant, Catholic Charities Bureau, Inc., is a nonprofit organization

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Continue Reading U.S. Supreme Court Upholds Catholic Charity’s Religious Exemption From Wisconsin Unemployment Tax

Taxes and their applicable laws can be confusing for even the most savvy businesspeople. For any number of reasons, businesses and individuals fall out of compliance with tax reporting requirements and become exposed to penalties for outstanding obligations.

To encourage taxpayers who are not in compliance with state tax laws to remedy their situations, the Wisconsin Department of Revenue provides the Wisconsin Voluntary Disclosure Program (“Program”).

The Program is designed to help businesses correct their state tax responsibilities and…
Continue Reading Does My Company Qualify for Wisconsin’s Voluntary Disclosure Program?

This article first appeared in On Balance, the membership magazine of the Wisconsin Institute of CPAs, and is used with their permission.

In early January, the incoming U.S. presidential administration loudly signaled that businesses should expect changes in trade policies in 2025. Although no specific policies had yet been promulgated, then President-elect Trump stated in social media outlets that broad sweeping import tariffs may be imposed on goods from Mexico, Canada and China. As of May 15, many new…
Continue Reading Taking Stock of Trade Issues

We previously reported on the reciprocal tariffs on ALL countries issued by President Trump in early April. Over the weekend, the U.S. and China agreed to temporarily reduce tariffs amid a looming recession triggered by an effective embargo.

The reciprocal tariffs, previously set at 125 percent, will be lowered to 10 percent for a 90-day period to allow room for negotiations. Both sides will take these actions by May 14, 2025. It is important to note that this

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Continue Reading U.S. and China Agree to Reduce Reciprocal Tariffs for 90 Days

Young woman holding money.
Alexander Grey, Unsplash
When my father passed away a few years ago, my family and I gathered at his home to start the difficult process of sorting through his belongings. Between the photo albums, old love letters to my mom, and vintage Cubs memorabilia, we found something no one expected — a shoebox filled with cash.
At first, we laughed. Then we looked at each other and asked, Wait… what do we do with this?
If you’ve ever been in this situation

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Continue Reading I Found Cash In My Dad’s Closet- Here’s What You Should Know