Business
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…
Continue ReadingWage 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…
Continue ReadingBlog: 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…
Continue ReadingUpdate to Form 1099-K Reporting Threshold
In late December 2022, the Internal Revenue Service announced a delay in reporting thresholds for third-party settlement organizations (TPSOs). As a result of the delay, the existing 1099-K reporting threshold…
Continue ReadingIRS Warns about Promoter Claims involving Employee Retention Credits
In a further warning to people and businesses, the Internal Revenue Service added widely circulating promoter claims involving Employee Retention Credits (ERCs). Renewing several earlier alerts, the IRS…
Continue ReadingNJ Amends Requirement for NJ S Corp Election
On December 22, 2022, New Jersey eliminated the requirement to affirmatively make a New Jersey S corporation election (tax law A.B. 4295). Instead, New Jersey will piggyback a federal S corporation election…
Continue ReadingCarryforward for BIRT increased to 20 Years
Every individual, partnership, association, limited liability company (LLC), and corporation engaged in a business, profession, or other activity for profit within the City of Philadelphia must file a…
Continue ReadingSecure 2.0 Act of 2022 Designed to Improve Retirement Savings Options
The SECURE 2.0 Act offers incentives for employers, especially small to mid-size employers without a current retirement plan in place, to establish and maintain retirement plans. From expanding coverage…
Continue ReadingTax Credits for Philadelphia Residents
The Federal Earned Income Tax Credit (EITC) The City of Philadelphia wants every qualifying Philadelphian to receive the federal Earned Income Tax Credit (EITC). This federal credit is for low-to-moderate-income…
Continue ReadingBlog: Transportation and Technology: What’s Next?
By Ken May, Partner I may be part of the last generation that had to know how to read a map because practical GPS solutions were in their infancy when I started driving. Now I can type any address into…
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