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News, updates, and expert insights from Weaver.

Weaver is a Texas-based, national accounting firm offering audit, tax, and advisory services with deep industry knowledge. Contact us to learn more. Follow this channel for the latest from Weaver: product news, expert perspectives, and updates from the team.

30 episodesVisit website ↗
Channel Brief·Weaver · 30 episodes
Updated Apr 30, 2024

Weaver advises on tax code shifts and compliance burdens.

Weaver's content teaches business leaders, nonprofits, and government entities how to navigate legislative changes, tax obligations, and emerging risks through expert interview and real-world case study.

Weaver's channel argues that legislative and regulatory change is constant and disruptive, requiring proactive counsel to identify savings, avoid penalties, and adapt business structure. The content proves this through named experts (Tax Partners, CFOs, Audit leaders) walking through specific legislative shifts: bonus depreciation phase-out, UBIT rules for nonprofits, property tax assessment appeals, and federal grant compliance triggers.

Drawn from Decoding the 2023 Tax Changes: An Insightful D… and 3 more →

“There's never been a year quite like the last couple of years in government assurance. We've seen a deluge of federal funds.”

Adam Jones, Stage Government Practice Leader at Weaver

By the numbers

20%

annual bonus depreciation reduction beginning 2023

1984

year Single Audit Act was enacted

$750K

federal assistance threshold triggering single audit requirement

100%

adjusted gross income limit for cash charitable contributions in 2021

What the channel argues

DataBonus depreciation phases out 20% annually from 2023 through full phase-out in 2027.→
InsightR&E costs now require five-year amortization under 2023 tax changes, altering deduction timing.→
InsightUBIT levels the competitive playing field between nonprofits and for-profit businesses engaging in unrelated revenue.→
InsightSingle Audit Act passed in 1984 triggers when federal financial assistance exceeds a defined threshold.→
DataTexas homestead exemptions and 20% cap on commercial properties under 5 million create substantial residential and commercial tax savings.→

What you'll learn

•Bonus depreciation begins phasing down in 2023 and eliminates entirely by 2027, requiring immediate capital planning adjustments.
•Nonprofits must carefully allocate expenses between program and supporting services to properly report UBIT and maintain donor confidence.
•Property tax assessments are appealable and benefit from proactive strategy; rising valuations warrant annual review against market reality.
•Federal grant influx over recent years has pushed more government and nonprofit entities into single audit requirements, creating compliance pressure.
•Data governance and IT security now demand formal inventory practices and tailored risk mitigation to meet regulatory expectations.

What to do about it

→Audit your bonus depreciation strategy now to accelerate claims before 2027 phase-out and capture full deduction value.
→Review property tax assessments annually and file appeals with documented market comparables before assessment deadlines.
→Establish internal controls and expense allocation systems to segregate program from supporting services and manage UBIT exposure.

Who and what shows up

Kurtis Dixon

Tax Services Partner, Weaver

Detailed 2023 tax code changes including bonus depreciation phase-out and R&E amortization rules for manufacturing and retail sectors.

Stephen Arredondo

Property tax leader, Weaver

Explained Texas homestead exemptions, 20% commercial property cap, and property tax cycle impacts on real estate transactions.

Kirby Ross

Tax Partner, Weaver

Defined UBIT and its role in creating level competitive ground between nonprofits and for-profit businesses.

Adam Jones

Stage Government Practice Leader, Weaver

Noted unprecedented federal grant influx has driven many government and nonprofit agencies into single audit category.

Tim Savage

CPA, Blockchain & Digital Assets, Tax Services, Weaver

Hosts Weaver On-Chain, dedicated podcast addressing cryptocurrency taxation and blockchain industry regulatory landscape.

Questions this channel answers

Q

What are the biggest tax changes coming in 2023 and 2024?

Bonus depreciation phases out 20% per year starting in 2023 and concludes in 2027, and R&E costs now carry five-year amortization instead of immediate deduction.

Decoding the 2023 Tax Changes: An Insightful Discussion … →
Q

When does a nonprofit owe tax on unrelated business income?

UBIT applies to income from activities unrelated to the nonprofit's exempt purpose, designed to level competition between nonprofits and for-profits.

Weaver: UBIT and Functional Expenses for Nonprofits →
Q

How do property assessments get challenged and appeal?

Organizations should review assessments annually against market valuations and file proactive appeals with state and local tax professionals before deadline.

Weaver Beyond the Numbers Property Taxes, An Appeal to t… →
Q

When are government entities required to undergo a single audit?

The Single Audit Act, passed in 1984, is triggered when federal financial assistance spending crosses a defined threshold, and many entities have crossed it due to recent federal grant influx.

Weaver Beyond the Numbers: Business of Government and Th… →
Topics:Tax code changes and depreciation rulesNonprofit compliance and UBITProperty tax assessment and appealsGovernment single audit obligationsCryptocurrency and blockchain taxation
Themes:Legislative change requires continuous counsel and structural adaptationCompliance burden falls on those who receive federal funds or unrelated business incomeProactive risk strategy outperforms reactive penalty management

Industry context

Federal tax law updates, including the 2025 Budget and Reconciliation Act, are driving state conformity changes and complex compliance requirements across organizations receiving federal funds or reporting unrelated business income.

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