29 03, 2023

Working Capital’s Vital Role In M&A: Smart Business Dealmakers Podcast with Tony Montanaro

By |2023-03-29T15:28:02+00:00March 29th, 2023|Blog, Podcasts|

Don't overlook the importance of working capital in a deal. Louis Plung Partner Anthony Montanaro, CPA, ABV, CFE explains why in this 12-minute Smart Business Network podcast. Listen to find out why setting the working capital target is critical and how a miscalculation can bring a deal to a halt. Listen Now

23 03, 2023

2023 Tax Issues Affecting Multifamily Real Estate Investors

By |2023-03-23T15:48:23+00:00March 23rd, 2023|Blog, Tax|

By Thomas L. Bakaitus, Jr., CPA, MST [email protected] On March 7, 2023, Tom Bakaitus spoke at the 2nd Annual Pittsburgh Multifamily Symposium at Nova Place and addressed several tax changes or concepts that multifamily real estate investors need to be aware of. These include changes related to energy efficient tax credits and deductions

18 01, 2023

Accounting Considerations for Lean Organizations

By |2023-01-18T16:21:55+00:00January 18th, 2023|Blog|

By Lindsay Andrews, CPA [email protected] Many manufacturers utilize lean techniques to help improve manufacturing processes. In addition to the manufacturing process, the concepts of lean can extend to various other aspects of the business including accounting. There are five principles of lean and each one of these principles has applications to accounting departments.

3 01, 2023

Retirement Plan Changes in 2023: SECURE 2.0

By |2023-01-03T20:55:12+00:00January 3rd, 2023|Blog|

By Tom Culleiton, CPA [email protected] A few days before Christmas, Congress approved a $1.7 trillion spending package which was signed by President Biden on December 29, 2022, making saving for retirement more accessible for many employees. The spending package contains a provision termed “SECURE 2.0” If that sounds familiar, it is because this

19 12, 2022

Pennsylvania Entities Required to File Annual Reports Beginning in 2024

By |2023-05-04T14:30:11+00:00December 19th, 2022|Blog|

Many state governments require entities organized under its laws to file an annual or biennial report confirming the existence of that entity. Instead, Pennsylvania has only required a decennial filing (once every ten years) to confirm the existence of any entity that has not made some other type of filing with the Pennsylvania

18 11, 2022

Federal Tax Changes to Consider Now Before Year-End

By |2023-05-04T14:32:05+00:00November 18th, 2022|Blog|

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 first-year bonus depreciation for federal income tax purposes to 100% for

8 11, 2022

PA Department of Revenue Business Online Tax Account Changes

By |2023-05-04T14:32:02+00:00November 8th, 2022|Blog|

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 at mypath.pa.gov, later this month. The transition will start on November

24 10, 2022

IRS Increases Contribution Limits for 2023

By |2022-11-08T05:52:23+00:00October 24th, 2022|Blog|

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 approximately 8.2% for the 12-month

13 10, 2022

Leasing Standard Help – Louis Plung Partnership with LeaseCrunch

By |2022-11-08T05:16:56+00:00October 13th, 2022|Blog|

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 of this accounting standard as

19 09, 2022

Expansion of the Qualified Small Business Payroll Tax Credit for Increasing Research Activities

By |2023-05-04T14:31:37+00:00September 19th, 2022|Blog|

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 amount of payroll tax credit that a qualified small business can

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