Bipartisan Budget Act (Extenders)
The Bipartisan Budget Act of 2018, signed February 9th, 2018 Retroactively Extended the Following Provisions (except as noted) through December 31st, 2017. Sec. 40201. Extension of exclusion from gross income of discharge of qualified principal residence indebtedness....
R&D Credit for Small Business
The R&D Credit is not just for large corporations, but for all companies that design, develop or improve products, processes, techniques, formulas, inventions or software. In fact, if a company has simply invested time, money and resources toward the advancement...
Cyber Security
“Congratulations, you are the 1,000,000th person to visit this site! Click here to claim your $10,000 prize!” We have all seen these flashing boxes while browsing the web and dismiss them immediately for being a threat to our cyber security. A rule of thumb when it...
PA NEW 1099 WITHHOLDING REQUIREMENTS
Say Yes to Address – PA non-filed return notice
If you have not seen this notice yet, you will. PA has a glitch in their system which is generating CNI filing delinquency for pass-through entities for 2016. As pass through entities are no long required to file the RCT-101s after 12/31/15, these notices are...
New Financial Reporting Rules for Not-For-Profit Entities
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...
The Tax Cuts and Jobs Act of 2017
The Tax Cuts and Jobs Act of 2017 has the most significant tax changes we have seen to the tax code in years. This legislation will impact almost every taxpayer, from individuals to corporations and all pass-through entities, as well as estates. Although we have more...
This new City of Philadelphia tax policy may affect you!
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...
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