On Dec. 7, 2020, Jeffrey P. Scarpello, Executive Director of the Penn-Del-Jersey Chapter, NECA announced details of the next Hot Topics Seminar which will feature guest speaker, Stephen J. Slade, CPA, Partner at Wouch, Maloney. The seminar will focus on “What Contractors Need to Know about PPP Loan Forgiveness and Year End Tax Planning.” This […]
December 1st is #GivingTuesday, an idea that was created in 2012 to encourage people to do good. Since its inception, GivingTuesday has become a significant fundraising day for many nonprofit organizations. Making a donation to your favorite charity helps the organization fulfill its charitable purpose and may also help reduce your Federal tax bill. Changes […]
Today we are focusing on estate and gift tax planning, specifically, gifting limits. On October 26, 2020, the Internal Revenue Service announced that the annual gift exclusion amount for 2021 will remain the same as 2020 at $15,000. An individual may gift $15,000 annually to as many individuals as they desire with no federal gift […]
In our last issue of 2020, we are pleased to include articles on the following topics: Calculation vs. conclusion of value – Which level of service is appropriate in litigation? Restructuring: How business owners can get their groove back? Handle financial testimony by lay witnesses with care Case Study: Optical Works and Logistics v. Sentinel […]
Our last issue of Contractor for 2020 includes our cover story on construction accounting today: FASB addressees contract revenue recognition. In addition, other articles include: Heading off construction disputes at the pass 6 factors to evaluate before bidding on an infrastructure project Is it time to automate equipment warranty tracking? To read this issue of […]
Did anyone ever tell you that saving too much money, can sometimes be expensive? While this statement may go against what you may have previously thought, for an explanation, be certain to read our cover story in the November issue of Word to the Wise. We also include retirement savings tips for small business owners. […]
With the November 21, 2020, deadline to claim your Economic Impact Payment approaching, scams continue to gain traction. While most individuals know the status of their $1,200 Economic Impact Payment from the US Treasury, scammers are still finding ways to target taxpayers. The Security Summit, which includes the IRS, 42 state tax agencies and […]
The numerous relief efforts made by the IRS due to the COVID-19 pandemic has made it difficult to keep up with all of the issued changes. For exempt organizations that run on a calendar-year, Form 990 must be filed by May 15. Due to the pandemic, the IRS extended the Form 990 deadline from May […]
Many individuals are struggling with the long-lasting business and income implications of the coronavirus pandemic as companies restructure, downsize or eliminate positions. One strategy some individuals are turning to as a means of increasing cash flow, at least in the short term, is a 401K loan. With the economic stress, you may find yourself scrambling […]
This month, we focus on a tax trap that may be lurking in your paycheck from work. Speaking of work, are you switching jobs? Do you know the four options for your 401(k) plan? Click here to read our October 2020 issue of Word to the Wise to learn more.
News, ideas, and advice to keep you informed and ahead of the curve.
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