April 15th Filing Deadline Extended to July 15th

Treasury Secretary Steve Mnuchin announced today that the deadline for filing tax returns has been extended from April 15, 2020 to July 15, 2020. The Treasury had previously extended the tax return payment…

Continue Reading

The Benefits of Outsourced Accounting

Outsourced accounting strikes some as risky – the financial equivalent of letting the valet park your car or someone else watch your kids. They don’t care the way I do. They’re too removed to spot…

Continue Reading

NJ Enacts Pass-Through Business Alternative Income Tax

New Jersey has enacted legislation creating: an elective entity-level alternative income tax (AIT) for pass-through businesses; and an offsetting credit to taxpayers who receive income from a pass-through…

Continue Reading

Redesigned 2020 Form W-4

The Form W-4 for 2020 and after has been redesigned so that employees will no longer be able to request adjustments to their withholding using withholding allowances. The employee uses the redesigned Form…

Continue Reading

3 Tips for Choosing a Business Entity

Entrepreneurs face formative decisions daily, but one decision in particular has serious implications for the future: choosing a legal structure, also known as a business entity. This decision determines…

Continue Reading

Changes to Philadelphia’s 10-Year Tax Abatement

Two decades since the program started, Philadelphia City Council unanimously voted to change a controversial tax abatement for new builds within city limits. What was the 10-year tax abatement? The tax…

Continue Reading

Tax Cuts and Jobs Act’s Change to R&D Credit

Research & development credits available to businesses are currently deductible in the applicable tax year, encouraging growth and investment. A change in the deductibility of this credit will go into…

Continue Reading

MGI Worldwide and CPAAI Merge to Create Major International Accounting Network

MAPLE SHADE, NJ – Haefele, Flanagan & Co., p.c. is pleased to announce the merger of leading global accountancy groups, CPAAI (CPA Associates International) and MGI Worldwide. Haefele, Flanagan & Co.,…

Continue Reading

Good Debt, Bad Debt, and Electronic Payments

Before you sign up for another streaming content or food delivery service, consider this: Debt-to-income (DTI) ratios have shifted dramatically in recent years, with the average American household earning…

Continue Reading

2019 Year-End Tax Planning and Issues for Businesses

As year-end approaches, each business should consider the many opportunities that might be lost if year-end tax planning is not explored. A business may want to consider several general strategies, such…

Continue Reading