Mark S. Gallegos
@MarkSGallegos
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Tax & Advisory Partner | M&A, International Tax, & Strategic Tax Growth Expert | Speaker & Writer
Chicago, IL
Joined May 2013
Normalizing. Controlling. Adjusting. These aren't buzzwords — they're essential for accurate business valuations. Get the facts.
blog.portebrown.com
Learn how valuation experts adjust financials to reflect true business value, from nonrecurring items to control issues and balance sheet corrections.
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The Becker Accounting Podcast episode is out now! I recently chatted with Brian Lovett, for an episode in the Becker Accounting Podcasts series, Tax News Now. You can listen to the full episode , Apple Podcasts, Spotify, or on YouTube. @beckeracct
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Overtime just got sweeter. Deduct up to $25K in qualified OT pay under the OBBBA (2025–2028 only). Keep an eye on income thresholds!
blog.portebrown.com
Discover how the One, Big, Beautiful Bill Act (OBBBA) changes SALT, the Child Tax Credit, student loan forgiveness, and more — and what it means for your taxes.
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Illinois HB 2755 just rewrote the rules. From GILTI to Finnigan apportionment, here’s what businesses need to know for 2025 and beyond.
blog.portebrown.com
Illinois’ FY 2026 Revenue Omnibus Act brings key tax changes—GILTI limits, Finnigan apportionment, and pass-through sourcing rules. Learn how to prepare.
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Missed sourcing docs? You’ll owe a new 15% tax penalty under HB 2755. Tighten up your records today.
blog.portebrown.com
From sports wagering to local grocery taxes, Illinois HB 2755 reshapes sales-tax rules. Learn what businesses must do to stay compliant in 2025 and beyond.
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Business or hobby? The IRS cares—and your tax deductions depend on it. Be sure your side gig meets the profit motive test.
blog.portebrown.com
Stay current on federal tax rules for interns, side hustles, summer events, and deductions. Learn what business owners need to know to stay compliant and save.
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Thinking of energy upgrades? 2025 may be your last chance for tax credits. Don’t miss out under the new tax law.
blog.portebrown.com
Expanded SALT deductions, mortgage interest rules, and energy credit expirations mean big tax planning changes for homeowners in 2025 and beyond.
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Want to realign your budget with strategy? ZBB could be the tool your leadership team needs.
blog.portebrown.com
Explore how zero-based budgeting can help control costs, boost accountability, and improve decision-making in today’s uncertain economic climate.
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Pass-throughs win big: The 20% QBI deduction is here to stay. What does it mean for your 2025 return?
blog.portebrown.com
The OBBBA makes bonus depreciation, QBI deductions, and R&E expensing permanent, while phasing out key clean energy credits. Learn how it affects your business.
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From concept to execution — faster. Digital twins help manufacturers test ideas, refine operations, and cut costs before making a single change on the floor.
blog.portebrown.com
Explore how digital twins are helping manufacturers optimize processes, cut costs, and enhance product design — all while improving efficiency and decision-making.
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Contractors: Is your insurance mix up to code? Discover the 9 essential policies every construction company should consider.
blog.portebrown.com
Discover the 9 essential insurance policies that protect construction companies from risk — from general liability to wrap-up coverage and cyberliability.
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New rules for QCDs mean more flexibility for donors. Is your nonprofit ready to receive tax-efficient gifts?
blog.portebrown.com
Qualified charitable distributions (QCDs) offer tax-savvy ways for donors to give. Learn how your nonprofit can encourage and benefit from these contributions.
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Surprise inheritances often lead to court. Talk with your loved ones now and avoid costly will contests later.
blog.portebrown.com
Learn how to protect your estate plan by meeting legal requirements, avoiding undue influence, and minimizing the risk of will contests in probate court.
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Think before you speak: A fake reference call could lead to a real lawsuit. Here's how to stay protected.
blog.portebrown.com
Giving a bad reference about a former employee can lead to legal trouble. Learn how to protect yourself when handling reference checks.
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Life changes fast with a new child. Make sure your finances keep up—learn how to protect what matters most.
blog.portebrown.com
The birth or adoption of a child is cause for celebration, but it also carries heavy responsibilities. In addition to protecting your child's physical...
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Big boost for innovation: Businesses can now fully deduct domestic R&D costs again, thanks to the OBBBA.
blog.portebrown.com
The OBBBA extends key business tax breaks, including bonus depreciation, QBI deduction, R&D expensing, and more. Learn what it means for your company.
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New Tax Law Changes: Permanent tax brackets, higher SALT caps, and more credits could impact your return. Let’s talk strategy.
blog.portebrown.com
Explore how the One Big Beautiful Bill Act makes TCJA tax cuts permanent, enhances deductions, and introduces new tax breaks for individuals and families.
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Don’t wait for 2026. Start planning with SLATs & SPATs to use the $15M estate tax exemption wisely.
blog.portebrown.com
The new law locks in a higher estate tax exemption, giving affluent families more certainty and planning opportunities to reduce future tax burdens.
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Lower your taxes before you file. Year-round planning = better deductions and fewer surprises.
blog.portebrown.com
Simplify your tax filing with Porte Brown’s year-round tax planning tips on record-keeping, retirement savings, and more.
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Tax credit checklist: Child care, college, health insurance, home upgrades & more—are you claiming everything you're eligible for?
blog.portebrown.com
Explore 9 key tax credits for 2025 that can lower your tax bill — from child care and education to energy upgrades and adoption assistance.
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