News & Insights

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…

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…

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…

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…

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…

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…

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…

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

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…

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…