SECURE 2.0 law may make you more secure in retirement
A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022. Here are some of the significant retirement plan changes and when they’ll become effective.
SEK admits two new Members of the Firm
FOR IMMEDIATE RELEASE January 3, 2023 SEK Admits Two New Members of the Firm
Renting to a relative? Watch out for tax traps
If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick rundown of the rules
Look forward to this year by revisiting your business plan
Businesses of all stripes are about to embark upon a new calendar year.
How to minimize the S corporation LIFO recapture tax
If you’re considering converting your C corporation to an S corporation, be aware that there may be tax implications if you’ve been using the last in, first out (LIFO) inventory method. That’s because of the LIFO recapture income that will be triggered by converting to S corporation status.
PA Department of Revenue conversion from e-TIDES to myPATH
Effective November 30, 2022, the PA Department of Revenue (DOR) has migrated their tax filing and payment system from e-TIDES to myPATH.
Game on! Just make sure your nonprofit follows tax rules
If you’re starting to plan activities for a 2023 fundraiser, consider gaming — for example, bingo, poker, raffles and even casino-type games. Such games can be a great way to engage supporters and raise more revenue than your not-for-profit might otherwise.
What can QuickBooks Online's mobile app do?
If you haven’t checked out QuickBooks Online’s free mobile app, you might be surprised at how much it can do.
2023 Rates & Dates
The IRS recently released the 2023 rates and dates, which includes the following: