The Louis Plung Blog

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1811, 2022

Federal Tax Changes to Consider Now Before Year-End

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By Lora Ament, CPA, MBAFormer Tax Director at Louis Plung & Company 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

811, 2022

PA Department of Revenue Business Online Tax Account Changes

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By Lora Ament, CPA, MBAFormer Tax Director at Louis Plung & Company 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

2410, 2022

IRS Increases Contribution Limits for 2023

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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

2508, 2022

Understanding Employee Benefit Plan Audits – Top Five Commonly Asked Questions

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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

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