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So far louisplung has created 158 blog entries.
8 08, 2022

Crypto Currency and Hidden Assets in a Divorce

By |2022-08-08T12:10:21+00:00August 8th, 2022|Blog|

By Ryan J. Cotter [email protected] Smart watches displaying the owners non-fungible token (NFT). Bitcoin hitting the lowest value since 2020. Whether you have expanded your investment portfolio to include crypto currency or not, there is no denying its growing presence in today’s market. As crypto’s popularity has risen, so have the concerns of divorcing spouses

19 07, 2022

Pennsylvania Tax Law Changes – House Bill 1342

By |2022-07-19T19:16:12+00:00July 19th, 2022|Blog|

By Lora Ament, CPA, MBA [email protected] House Bill 1342 was signed into law in Pennsylvania on July 8, 2022. The bill makes significant changes to the Commonwealth’s corporate income tax laws as well as other changes affecting personal income tax and other tax changes as discussed below. Corporate Net Income Tax Changes Pennsylvania currently assesses

12 07, 2022

PA Corporate Tax Rate Reduced

By |2022-07-12T19:46:49+00:00July 12th, 2022|Blog|

By Lora Ament, CPA, MBA [email protected] Late last week the PA Senate and House passed House Bill 1342 which was then signed by Governor Tom Wolf on July 8, 2022. A major component of this Bill is the reduction of the PA corporate net income (CNI) tax rate. The tax rate would be reduced to

28 06, 2022

Pass-Through Entity State Tax Legislation Update

By |2022-06-28T20:41:41+00:00June 28th, 2022|Blog|

By Lora Ament, CPA, MBA [email protected] A major component of the Tax Cuts and Jobs Act of 2017 (TCJA) was the $10,000 limit (or $5,000 in the case of a married individual filing separately) for the state tax deduction (or SALT cap) for individual income tax return purposes. Itemized deductions for state income taxes, general

20 06, 2022

PA One Step Closer to Corporate Tax Rate Reduction

By |2022-06-21T23:37:47+00:00June 20th, 2022|Blog|

By Lora Ament, CPA, MBA [email protected] Pennsylvania currently assesses a 9.99% tax rate on corporate net income (CNI) of C-corporations, the 2 nd highest state corporate tax rate in the country. (New Jersey is the only other state assessing at a higher rate – 11.5%). Last week, amid budget discussions, the Pennsylvania Senate passed two

25 05, 2022

Employee Retention Credit Update – Beware of Firms Aggressively Marketing These Credits

By |2022-05-26T13:08:40+00:00May 25th, 2022|Blog|

By  Tony Montanaro, CPA/ABV, CFE Employee retention tax credits (ERC) have provided much needed relief to qualifying businesses negatively impacted by the COVID-19 pandemic; however, business owners should be wary of firms aggressively marketing these credits. Background of Employee Retention Credits Employee retention tax credits were initially created as part of the CARES Act, and

6 01, 2022

Leasing Standard Finally Here in 2022 for Private Companies

By |2022-01-24T22:01:29+00:00January 6th, 2022|Blog|

By  Lindsay Andrews, CPA In 2016, the Financial Accounting Standards Board (FASB) issued a new lease accounting standard requiring virtually all leases to be recognized on the balance sheet.  As a private company or not-for profit that has leases, the implementation of this standard is required for fiscal years beginning after December 15, 2021 (and

13 12, 2021

Louis Plung Donates to Foster Love Project

By |2021-12-13T14:41:19+00:00December 13th, 2021|Blog|

On December 8, the Louis Plung social committee got into the holiday spirit by filling twenty bags for the Foster Love Project’s Bag Drive! The Bag Drive ensures that children in foster care who will be transitioning to new homes this holiday season will have their own belongings to take with them.   Everything was

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