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What you can deduct when volunteering
Posted on: Thursday, July 12, 2018
Because donations to charity of cash or property generally are tax deductible (if you itemize), it only seems logical that the donation of something even more valuable to you — your time — would also be deductible. Unfortunately, that’s not the case.
» Read moreDoes your business have to begin collecting sales tax on all out-of-state online sales?
Posted on: Thursday, July 5, 2018
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Finding a 401(k) that’s right for your business
Posted on: Thursday, July 5, 2018
By and large, today’s employees expect employers to offer a tax-advantaged retirement plan. A 401(k) is an obvious choice to consider, but you may not be aware that there are a variety of types to choose from. Let’s check out some of the most popular options:
» Read moreDo you know the ABCs of HSAs, FSAs and HRAs?
Posted on: Monday, July 2, 2018
There continues to be much uncertainty about the Affordable Care Act and how such uncertainty will impact health care costs. So it’s critical to leverage all tax-advantaged ways to fund these expenses, including HSAs, FSAs and HRAs. Here’s how to make sense of this alphabet soup of health care accounts. HSAs
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2 tax law changes that may affect your business’s 401(k) plan
Posted on: Wednesday, June 20, 2018
» Read moreNew 1099-MISC Requirements
Posted on: Tuesday, June 19, 2018
Act 43 of 2017 created a withholding obligation for certain payors of Pennsylvania-source income and lessees of Pennsylvania real estate to non-residents. It also expanded the requirements with respect to when a copy of Federal Form 1099-MISC is required to be filed with the Pennsylvania Department of Revenue. Beginning January 1, 2018, anyone that makes the following payments is required to withhold from such payments an amount equal to the tax rate specified per 72 P.S. § 7302 (currently 3.07...
» Read moreFortify your estate plan against undue influence claims
Posted on: Monday, June 18, 2018
Of course, you expect the declarations in your will to be carried out, as required by law. Usually, that’s exactly what happens with wills. However, it’s possible your will could be contested and your true intentions defeated if someone is found to have exerted “undue influence” over your decisions. Undue influence defined
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Don’t let collaborative arrangements cause financial reporting headaches
Posted on: Tuesday, June 12, 2018
Businesses often enter into so-called “collaborative arrangements” when they partner with another entity on a major project. Unfortunately, the current guidance for these types of arrangements under U.S. Generally Accepted Accounting Principles (GAAP) is somewhat vague.
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