IRS Announces Change in Policy

In a major change in policy, the IRS will end most unannounced visits to taxpayers by agency revenue officers. The change reverses a decades-long practice by IRS revenue officers who make unannounced visits…

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Blog: Top 10 Mistakes Business Owners Make When Valuing Their Company

Valuing a business is one of the most important tasks for business owners and yet, many business owners have no idea of the true value of their company. A business valuation determines the fair market…

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What is the Corporate Transparency Act?

The Corporate Transparency Act (CTA), ratified into law on January 1, 2021, advances the agenda of deterring criminals from infusing their illicit funds into the U.S. financial system. What is the Corporate…

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City of Philadelphia Wage Tax Rate Decrease

The City of Philadelphia announced a Wage Tax rate decrease for workers that live in the city starting July 1, 2023. The new Wage Tax rate for residents of Philadelphia is 3.75% (.0375), down from 3.79%…

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Blog: 7 Reasons Why you Should Get a Business Valuation

Many business owners *think* they know the value of their business, so they don’t engage in a formal valuation exercise until one of their advisors tells them that it’s needed to satisfy a particular requirement…

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Updates on 2023 Tax Filing Season

National Taxpayer Advocate Erin M. Collins released her statutorily mandated midyear report to Congress. The report analyzes the IRS’s effectiveness in processing original returns, amended returns, taxpayer…

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NJ Warn Act Signed with Amendments

Earlier this year, Governor Murphy signed into law amendments to the Millville Dallas Airmotive Plant Job Loss Notification Act, more commonly known as NJ WARN or “mini-WARN Act.” The law as amended…

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Blog: The Value of the Workforce

By Dave Bookbinder – Executive Director, Valuation Services “People are our most valuable assets.”  Said every chief executive officer of every company everywhere. Right? But how do you really know that…

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Wage and Apprenticeship Requirements for Enhanced Tax Benefits

The Treasury Department and Internal Revenue Service provides information on how to satisfy the prevailing wage and apprenticeship requirements for enhanced tax benefits under the Inflation Reduction Act…

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Blog: What is my Business Worth?

By Dave Bookbinder – Executive Director, Valuation Services That’s one I get a lot… “Give me a rough idea – back of the envelope.”  And as an old mentor of mine known as ‘Dr. Value’ would say: “It Depends…

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