The Financial Accounting Standards Board (FASB) has issued Accounting Standards Update (ASU) 2016-14 that will change the structure and general financial statement presentation of not-for-profit entities. The goal of these changes is to improve the financial...
Starting with payments due in April 2018 for Tax Year 2017, taxpayers who owe $5,000 or more for the Business Income and Receipts Tax or the Net Profits Tax must pay those taxes electronically. Taxpayers can make electronic payments through: Online Methods • eCheck -...
When starting a business, it is important to consider the business structure. There are many aspects to consider when choosing a business form including the industry, the nature of the business, legal factors, taxation, and other factors. Let’s look at some of the...
Apart from the typical non-employee, individual whom you consider a subcontractor, are you aware of everyone who is in need of a 1099-Misc come January 31st of the subsequent year? The best practice you can do for yourself (and your accountant!) is to keep up with...
It is scary to think that Halloween has come and gone and we now have less than two months left in the year. Where has the time gone? The only thing more frightening than ghosts and haunted houses is ending the year without knowing your 2017 projected tax liability....
A straightforward concept, you run your business fully aware that the federal government, and in most cases the state governments, will impose a tax on your annual activity. However, what most business owners in Pennsylvania do not realize is that there is most...
It’s never too late to set new goals. All you need is the drive to do so, and, in the case of a career goal, a firm that believes in you as much as you believe in yourself. That’s what I learned from my lunch with Dave, small business manager here in Wayne. His story...
And no, that doesn’t mean you should quit your job and wait until one comes along that allows you to sit on your couch watching Netflix for weeks on end. However, what it does mean is you should find a job that allows you to still do the things you enjoy outside of...