Tax 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…

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Retirement Account Tax Inflation Adjustments for Year 2023

The IRS announced the 2023 inflation-adjusted dollar-amount ceilings and thresholds for a wide range of qualified retirement plans and accounts, including traditional individual retirement arrangements…

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Qualified Appraisal Required to Deduct Charitable Contribution of Cryptocurrency

Earlier this month, the Internal Revenue Service (IRS) released a memorandum (CCA 202302012) concluding that a qualified appraisal is required when a taxpayer claims a charitable contribution deduction…

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Blog: 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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2023 Payroll Tax Highlights

We have summarized the major changes, as of this date, which will affect your payroll tax calculations effective January 1, 2023. Click Here for a PDF Download

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Blog: The Top 5 Reasons You Should Be Using Tax Caddy

TaxCaddy is a software program designed to make gathering tax documents and sharing them with your tax professional a breeze. But why take our word for it? Here are the top 5 reasons YOU should be using…

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4th Quarter Estimates Due January 17, 2023

The Internal Revenue Service reminds taxpayers who pay estimated taxes that they have until January 17th to make their payment for the fourth quarter of tax year 2022 without penalty. You may send estimated…

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Using Electronic Funds to Avoid Check Processing Delays for Payment of Income Taxes

Delays by the IRS and State Revenue Departments in processing checks from taxpayers for the payment of income taxes is increasing.  Delays in the processing of checks can cause automated tax notices requesting…

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Extended Green Provisions in the Inflation Reduction Act

The Inflation Reduction Act extended several Tax Code provisions related to green energy that had expired at the end of 2021 or were being phased out. Please reach out to your accounting professional with…

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Year End Tax Planning for Small Businesses

If you run a small business, it’s critical to look at your tax and financial plans and identify steps that can be taken to reduce taxes and help you save for your future. Though there has been a lot…

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