Are you wondering if the passive activity loss rules affect business ventures you’re engaged in — or might engage in?
Most salespeople would tell you that there are few better feelings in life than closing a deal. This is because guiding a customer through the sales process and coming out the other side with dollars committed isn’t a matter of blind luck.
On October 3, 2020, new overtime rules went into effect, expanding Pennsylvania’s Minimum Wage Act regulating overtime pay.
IRS audit rates are historically low, according to the latest data, but that’s little consolation if your return is among those selected to be examined. But with proper preparation and planning, you should fare well.
The COVID-19 pandemic has resulted in many people borrowing from their companies’ qualified retirement plans, and the CARES Act provides some temporary rule changes to this loan type.
Do you buy or lease computer software to use in your business? Do you develop computer software for use in your business, or for sale or lease to others?
By: Kevin B. Stouffer, CPA - Member of the Firm
By: Teena R. Curnow - Supervisor
By: Teena R. Curnow, Supervisor
Generally, the proceeds of your life insurance policy are included in your taxable estate. You can remove them by transferring ownership of the policy, but there’s a catch: If you wait too long, your intentions may be defeated.