By Lora Ament, CPA, MBA [email protected] With the close of 2022 fast approaching, businesses should evaluate several tax law changes that can impact the current year income tax liabilities and the final estimated tax payments. Phase Out of 100% Bonus Depreciation The Tax Cuts and Jobs Act (TCJA) increased

By Lora Ament, CPA, MBA [email protected] Pennsylvania Businesses Will Need to Transition From e-TIDES to myPATH The Pennsylvania Department of Revenue is transitioning all business taxes, including employer withholding tax, sales tax, and corporation taxes into the Pennsylvania Tax Hub (PATH) system requiring business taxpayers to register their accounts

By Duke Griffith, Supervising Senior [email protected] On Friday October 21, 2022, the Internal Revenue Service (IRS) announced a record increase on the contribution limits for retirements plans for 2023. This largest ever increase on contribution limits is due to rising inflation rates in the United States. Inflation is up

By Lindsay Andrews, CPA [email protected] Implementation and Partnership with LeaseCrunch At Louis Plung, we have worked with a variety of companies that have already implemented the new leasing standard and are available to answer questions, review your leases, and assist with the accounting implementation to make the adoption

By Lora Ament, CPA, MBA [email protected] A lesser-known provision of The Inflation Reduction Act of 2022 is to increase the payroll tax liability offset by research and development (R&D) tax credits for qualified small businesses. Such businesses are usually start-up companies with a history of operating losses. The maximum

By Lindsay Andrews, CPA [email protected] While employee benefit plan participants want to know that their retirement benefits are secure, plan sponsors have concerns about their fiduciary risks and responsibilities. Thanks to complex regulatory requirements and constantly changing legislation, the challenges of managing employee benefit plans can be complicated and

By Lora Ament, CPA, MBA [email protected] On Tuesday, August 16, 2022, President Biden signed The Inflation Reduction Act of 2022. The Act is a massive climate, health care and tax bill, and is a “scaled-down” successor to the Build Back Better Act, which, after being passed by the House

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

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