In light of the ongoing situation surrounding Hurricane Milton, our primary concern is the safety and well-being of our valued clients, community members, and all those affected by this natural disaster. We extend our heartfelt prayers and support to our friends, family, clients, and colleagues in Florida during this challenging time. Check Charity Status Before […]
Individuals and businesses affected by Hurricane Helene in the entire states of Alabama, Georgia, North Carolina and South Carolina and parts of Florida, Tennessee and Virginia will receive disaster tax relief from the IRS. According to IR-2024-253, “taxpayers in these areas now have until May 1, 2025, to file various federal individual and business tax […]
The IRS updated its guidance last month on hiring family for your business. Having a family business provides many advantages; one of course is the ability to hire family members. Keep in mind that employment tax requirements for family employees may vary from those that apply to other employees. The following information from the IRS […]
In this issue of Valuation and Litigation Briefing, our articles include: As always, if you have questions or currently in need of business valuation services, please reach out to John F. Maloney, CPA, CFF, CVA, ABAR at 215.675.8364. To read the entire September/October issue of Valuation and Litigation Briefing, click here. DISCLAIMER: The WM Update, WM […]
The September/October issue of Contractor is now available online. This issue contains articles on: As always, if you have questions on any of these articles or other topics related to your construction business, please contact Stephen Slade, CPA in our Horsham office, Adrienne Straccione, CPA, CCIFP in our Philadelphia office, or any of our construction accountants. To read this […]
On August 19, 2024, the IRS issued interim guidance for sponsors of 401(k) and similar retirement plans that provide, or wish to provide, matching contributions based on eligible student loan payments made by their participating employees. For the first time, employers are permitted to provide matching contributions for employees based on their payments on student […]
We are approaching the last four months of 2024 and for those of you paying estimated taxes, your 3rd quarter payment is due September 15th. If you are new to making quarterly tax payments, keep in mind that taxes must be paid through either withholding or estimated tax payments as income is earned. For those […]
Every New Jersey employer with 25 or more employees, who does not offer their own qualified retirement savings plan and has been in business for at least two years, is required to register with RetireReady NJ, the state-administered retirement savings program. RetireReady NJ was created to help bridge the gap in retirement savings for the […]
Earlier this month, proposed legislation cited as the Keep Every Extra Penny Act of 2024 (KEEP Act) was introduced to eliminate income taxes on overtime pay. The purpose of this Act is to amend the Internal Revenue Code of 1986 and exclude overtime compensation from gross income for purpose of the income tax. While […]
Welcome to the July/August issue of our Contractor newsletter. This month we include articles about financial management for contractors, an evaluation method that construction businesses may find useful to help with their bidding process and more. All articles in this issue include: As always, if you have questions on any of these articles or other […]
News, ideas, and advice to keep you informed and ahead of the curve.
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