Prepare for Year-End – Bookkeeping Checklist
As we get closer and closer to year-end, most businesses will begin to think about taxes. Now is the time to get everything in order and prepare for tax planning. By being proactive, you can get a handle of your tax situation before the turn of the calendar. Here is a...
Stephano Slack Announces Promotions
WAYNE, PA – OCTOBER 29, 2018 – Stephano Slack, LLC, a leading regional accounting and consulting firm, recently announced two promotions within its Audit and Assurance practice. Richard B. Skinner, CPA was promoted to Manager, and Patrick Dougherty was promoted...
New Employer Tax Credit Available for Paid Family and Medical Leave
The IRS has issued guidance on a new business tax credit for tax years 2018 and 2019 for eligible employers who provide family and medical leave to their employees. The credit is a percentage of the wages that an employer pays to their employees while they are on...
Changes to Non-Profit Audit Landscape in Pennsylvania
Governor Wolf signed Act 71 into law last December and it became effective in early 2018. Act 71 increased the annual contribution levels at which a nonprofit must undergo an audit, review, or compilation engagement. The new contribution thresholds are as below:...
Is Your Worker an Employee or Independent Contractor?
This age old question is one to reevaluate on a regular basis within your company if you are paying workers under a 1099 contract. Why is this so important? If you, the business, are paying a worker as an independent contractor, you are not responsible for any...
Tax Law Update: Elective Tax-Deferred Treatment of Employee Stock Options and RSUs
Chances are that if you clicked to read this article, you or someone you know owns the rights to some employee stock options. Contrarily, you could be a private business owner and you are considering a creative way of attracting and compensating some top level talent...
401(k) Audit Preparation and Compliance with DOL Guidelines
Who is Required to have a 401(k) Audit and Why is it Important? Any employer who elects the 80/120 rule who has over 120 eligible employees at the beginning of the plan year is required to have an audit for that period. The Plan will then be required to have an audit...
State Tax Day – Current, S.14, New Jersey – Sales and Use Tax: New Jersey Adopts Economic Nexus for Remote Sellers, (Aug. 15, 2018)
Effective October 1, 2018, certain remote sellers will be required to register, collect and remit New Jersey sales tax. Sales/Economic Thresholds The Division of Taxation announced that sales tax collection will be required in New Jersey if, during the current or...
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