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…

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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…

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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…

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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…

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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.,…

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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…

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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…

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Employers Can Fund Workers’ Individual Plans Under New Rule

More employers will be able to give workers cash in lieu of health insurance because of a rule change that takes effect at the start of 2020. As of Jan 1, any employer can give employees pretax compensation…

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Qualified Opportunity Zones: Guidelines for Developers

Congress designated Qualified Opportunity Funds in 2017 with a win-win goal: To spur growth in 8,700 distressed communities, known as Qualified Opportunity Zones, via investment vehicles offering attractive…

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Taxpayers Should Be on the Lookout for New Version of SSN Scam

Taxpayers should be on the lookout for new variations of tax-related scams. In the latest twist on a scam related to Social Security numbers, scammers claim to be able to suspend or cancel the victim’s…

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