Wouch Maloney CPAs and Business Advisors is proud to announce that Adrienne Straccione, CPA, Partner is one of the 102 women from Pennsylvania named to the “2022 Power Players Power Women” list in the June 20, 2022, issue of Metro Philadelphia. The Metro describes the Power Women list as one that “honors lawyers, entrepreneurs, politicians, […]
On June 9, 2022, the IRS announced an increase in the optional standard mileage rate for the second half of the year due to the increase in gasoline prices. Effective July 1, 2022, the standard mileage rate for business travel will be 62.5 cents per mile, an increase of 4 cents. Below is a chart […]
After a year of significant capital gains and a fluid tax situation since Biden’s proposed tax legislature did not pass through Congress, we are now faced with a volatile market and no stability in sight as we finish out the second quarter of 2022. The ongoing changes with investment portfolios require a proactive approach for […]
In this issue of Word to the Wise, we focus on summer jobs and the taxes you can expect to owe based on whether you are an employee, working for a family business, an entrepreneur or a domestic worker, such as a babysitter. In addition, we include articles on home offices and the tax consequences […]
The cover story in the May/June edition of Contractor focuses on joint venture agreements. The article provides insight to the advantages and disadvantages of joint venture agreements as well as a reminder to be prepared for complex accounting ramifications and items to address in the actual agreement. Articles in this issue include: The finer points […]
The cover story of the May/June edition of our Valuation & Litigation Briefing newsletter focuses on “How to factor cybersecurity concerns into a business valuation.” This article addresses the need for business valuation professionals to assess risk, specifically in the area of businesses relying on remote workers and cloud-based technologies, when valuing businesses. Other articles […]
The IRS may need to hire a PR team to improve their image. As we reported in March, during a visit to the IRS campus in Philadelphia, IRS Commissioner Charles P. Rettig and Deputy Secretary of the Treasury Wally Adeyemo announced their plan to eliminate the IRS backlog in 2022. Last week, the Treasury Inspector […]
Part 2: Stock Portfolio Investments Last week, we noted that we saw a significant increase in the number of clients paying tax on capital gains with a focus on selling a primary residence. This week, we will focus on capital gains related to selling stock portfolio investments. Numerous media outlets reported stock portfolio investments hit […]
Part 1: Selling Your Principal Residence During tax season, we saw a significant increase in the number of clients paying tax on capital gains. Many stock portfolio investments hit record highs in 2021 which was the catalyst for many individuals to sell certain assets and for many funds to pay out significant capital gain distributions. […]
Expertise released their list of the Best Accountants in Philadelphia for 2022. Wouch Maloney CPAs and Business Advisors is proud to be listed in the Top 18. The goal for Expertise.com is to connect people with the best local experts. Philadelphia accountants are scored on more than 25 variables across five categories including: Availability Qualifications […]
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