August 2018

Philadelphia Will Follow Pennsylvania Bonus Depreciation Treatment

The City of Philadelphia has announced that it will follow Pennsylvania’s income tax treatment of the federal bonus depreciation deduction for corporate taxpayers. Taxpayers will need to add-back any federal bonus depreciation.  Taxpayers can take a deduction for

August 29, 2018

Small Businesses Get Automatic Consent for Accounting Method Change

The IRS will now automatically provide consent to small business taxpayer’s application to change to the cash method of accounting. What do the automatic consent changes include? a change to the cash method of accounting an end to

August 29, 2018

Tax Imposed on Delaware Series LLCs

Delaware legislation has authorized the formation of series limited liability companies. Beginning August 1, 2019, registered DE series LLCs will have an annual tax imposed. A series LLC is a unique entity that consists of separate, individual interests. 

August 29, 2018

The “Real World”

Hello, again! Growing up, I was always scared of the term, the “real world,” but this position has shown me that it is nothing to be afraid of. In fact, now I feel much more confident and professional.

August 22, 2018

Get Ready for the New Lease Accounting Guidance

Summary The FASB’s major accounting standard update (ASU) which will require the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases will be upon us sooner than we think.  This article

August 7, 2018