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The Louis Plung Blog

Find out about the latest news and trends …

808, 2022

Crypto Currency and Hidden Assets in a Divorce

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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

1207, 2022

PA Corporate Tax Rate Reduced

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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

2505, 2022

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

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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

601, 2022

Leasing Standard Finally Here in 2022 for Private Companies

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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

1312, 2021

Louis Plung Donates to Foster Love Project

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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

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