On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act, a comprehensive 870-page measure that touches nearly every part of the U.S. economy. Among its many provisions, the Act makes permanent and expands several tax benefits for individuals that were originally introduced under the Tax Cuts and Jobs Act (TCJA). […]
We receive many inquiries throughout the year from individuals who want to know if they can deduct real estate losses on their tax returns. If an individual is new to the world of managing, renting or maintaining properties, either as an individual or through a business, they may be unfamiliar with the requirements necessary to […]
On July 22, 2025, our partner, Adrienne Straccione, CPA, CCIFP, was quoted in The Philadelphia Inquirer for an important article highlighting the escalating threat of financial theft to local small businesses. In her commentary, Adrienne offers valuable strategies for effectively mitigating financial theft and fraud while safeguarding your business’s finances. To read the article, please […]
CPA exam and licensure requirements for accounting professionals in the Commonwealth of Pennsylvania were updated on June 30, 2025, when Governor Josh Shapiro signed Senate Bill 719 (Act 27 of 2025). The Act provides three pathways for individuals to become a CPA instead of two. Pennsylvania reduced the number of college credits required to sit […]
If you are a business owner in Pennsylvania, you may have received a postcard from the Pennsylvania Department of State reminding you that your business is required to file your Annual Report online. The deadline for Corporations (business and nonprofit)/domestic and foreign is Monday, June 30, 2025. Additional Report Filing Deadlines For more details, please […]
On June 18, 2025, Cybernews researchers reported that 16 billion login credentials were exposed in the largest data breach in history. This worldwide security incident involves major platforms including Google, Apple, Facebook, and Microsoft. Due to the magnitude of this breach, we updated our list of best practices and password recommendations to help keep your […]
On Thursday June 12th, Philadelphia City Council approved a number of tax and spending bills related to the City’s budget for the fiscal year beginning July 1st. Below are some key changes that will impact businesses and individuals in Philadelphia. Individual Taxes Resident and nonresident individuals working in the city will see a small reduction in […]
In the May/June issue of Valuation and Litigation Briefing, our feature article is about the distinction between personal and enterprise goodwill. In this article you will learn most states treat enterprise or business goodwill as a marital asset subject to division but consider personal or professional goodwill to be a nonmarital asset. Other topics covered […]
And the winners of the 4th annual Wouch Maloney employee golf outing are… The fourth annual Wouch Maloney company golf outing was held Tuesday, June 3, 2025, at the Lederach Golf Club in Harleysville, PA. The annual event is a traditional scramble where novice golfers are paired with experienced golfers. Trophies and bragging rights are […]
If you pay estimated taxes, the deadline to pay the second quarter payment is Monday, June 16, 2025. The deadline is for self-employed individuals, retirees, investors, businesses and corporations or any individual who does not have taxes withheld. Federal income taxes are pay-as-you-go, which means you pay as you receive income, rather than paying at […]
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