Recent News & Blog

  • Finalized IRS Hardship Distribution Regulations

    In September 2019, the IRS published long-awaited final hardship distribution regulations for almost a year following their initial proposal.

  • Local Minimum Wage Law Changes

    The Federal minimum wage rate increased to $7.25 back in 2010 and has remained at that level ever since. As you know, many states have passed their own minimum wage laws that increased the minimum wage in their respective states.

  • Nondeductible IRA contributions require careful tracking

    If, like many people, your traditional IRA holds a mixture of deductible (after-tax) and nondeductible (pretax) contributions, it’s important to track your contributions carefully to avoid double taxation of distributions. Why?

  • Reminder: Pennsylvania 1099-Misc Withholding Tax Requirements

    In 2017, Act 43 created a tax withholding obligation for certain payors of Pennsylvania‐source income and lessees of Pennsylvania real estate to out of state residents.

  • Sage 50 & QuickBooks Desktop Updates

    Sage recently implemented changes to Sage 50 software. As a result of these changes, versions of Sage 50 older than 2019 are no longer compatible with Sage 50 for 2019 and 2020, and older versions can no longer be operated on the same database platform.

  • Yes, SEO is also important for nonprofits

    If you think search engine optimization (SEO) is something only for-profit businesses need to worry about, think again. The Google rankings of your not-for-profit’s website can make a tremendous difference in the donations and other support you receive.

  • 5 ways to strengthen your business for the new year

    The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the new year by doing a little of both:

  • Nonprofit Parking Tax Repeal

    On Friday December 20, 2019, President Trump signed a spending package which included the repeal of the nonprofit parking tax.  This tax applied to employee parking benefits as well as mass transit reimbursement.

  • Wayfair revisited — It’s time to review your sales tax obligations

    In its 2018 decision in South Dakota v. Wayfair, the U.S. Supreme Court upheld South Dakota’s “economic nexus” statute, expanding the power of states to collect sales tax from remote sellers.

  • Year-end accounting recap

    The Financial Accounting Standards Board (FASB) hasn’t issued any major new accounting rules in 2019. But there have been some important developments to be aware of when preparing annual financial statements under U.S. Generally Accepted Accounting Principles (GAAP).

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