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

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

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

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

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,

By  Lora Ament, CPA, MBA [email protected] Due to rising gas prices, on June 9, 2022, the Internal Revenue Service issued Announcement 2022-13 increasing the optional standard mileage rate for the second half of 2022 from 58.5 cents per mile to 62.5 cents per mile. The new rate will be effective

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

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

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