Feb 3, 2025 | Tax Talk Tuesdays
Building owners and designers seeking ways to enhance energy efficiency while reducing tax liabilities should be aware of the Energy Efficient Commercial Buildings Deduction (179D deduction). This tax incentive allows eligible taxpayers to claim a deduction for...
Jan 27, 2025 | Tax Talk Tuesdays
For manufacturers, innovation is not merely a driver of growth but an essential strategy for survival and success in today’s fiercely competitive landscape. The Research and Development (R&D) Tax Credit provides manufacturers with a valuable opportunity to offset...
Jan 27, 2025 | Blog Posts, Tax
President Biden signed the Federal Disaster Tax Relief Act of 2023 (H.R. 5863) into law on December 12, 2024. This legislation introduces several beneficial tax provisions to assist victims of federally declared disasters. Relief for Personal Casualty Losses One of...
Jan 18, 2025 | Tax Talk Tuesdays
Beginning January 6, 2025, most Pennsylvania domestic and foreign filing associations must file an Annual Report (DSCB:15-146) online at file.dos.pa.gov. This new requirement applies to various entities, including domestic business corporations, nonprofits, limited...
Jan 13, 2025 | Tax Talk Tuesdays
Correctly classifying workers as employees or independent contractors is essential for business owners to meet tax obligations and avoid costly penalties. The IRS provides clear guidelines, including a 20-factor test, to help determine the correct classification....
Jan 12, 2025 | Blog Posts, Tax
The U.S. Department of Justice (DOJ) has petitioned the Supreme Court to lift a nationwide injunction that currently blocks the enforcement of the Corporate Transparency Act (CTA). Enacted in 2021, the CTA mandates that millions of companies disclose their beneficial...
Jan 6, 2025 | Tax Talk Tuesdays
As we enter 2025, significant changes to federal tax brackets and critical updates will impact taxpayers’ financial planning strategies. Here’s a detailed look at what’s new and remains unchanged in the tax landscape for the year ahead. 2025 Tax Brackets...
Dec 31, 2024 | Tax Talk Tuesdays
As 2025 approaches, taxpayers can align their financial strategies with their tax obligations to ensure a more secure financial future. By proactively engaging with an accountant, taxpayers can uncover ways to minimize tax burdens and maximize savings. Here are...
Dec 27, 2024 | Blog Posts
As we previously updated you, on December 3, 2024, a federal court in Texas temporarily blocked enforcement of the Corporate Transparency Act (CTA) just weeks before the filing deadline. The government appealed, and on December 23, the Fifth Circuit reinstated the...
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