Blog Posts

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

Safeguarding EINs to Prevent Identity Theft

See what the IRS is warning small businesses about... https://www.irs.gov/newsroom/irs-urges-small-businesses-protect-it-systems-from-identity-theft

May 9, 2018

New Jersey Income Tax Exemption for Veterans

New for 2017 You are eligible for a $3,000 exemption on your Income Tax return if you are a military veteran who was honorably discharged or released under honorable circumstances from active duty in the Armed Forces of

February 27, 2018