$3.7 Billion in Valuation Discounts

by Dennis Stuchell 25. July 2011 09:09
“There were 102,608 gifts given in 2008 against which valuation discounts were taken,” reports IRS economist Melissa J. Belvedere in the recent IRS publication 2008 Gifts, “and the dollar value of these discounts totaled $3.7 billion.” Of the 234,714 returns filed for Gift Ye... [More]
Categories: Advisory

Are YOU Prepared for the New Local Income Tax System?

by Tim Caskey 18. July 2011 10:16
You may have heard about the Pennsylvania State legislature’s plan to restructure and streamline the local earned income tax (EIT) collection system. Act 32, which was passed in 2008, provides for the local EIT to be collected by each county rather than 560 different localities. Each county ot... [More]
Categories: Tax

Urish Popeck Has Gone to the Next Level!

by Tom Current 13. July 2011 12:55
During the process of overhauling our web site, we have been mindful that increasing traffic to the site is one of our primary goals in the graphic  redesign and content update of www.urishpopeck.com. Many of my colleagues at Urish Popeck have heard me talk (harp on? badger them?) about the im... [More]
Categories: Productivity

What’s Next – New Standards for Private Companies

by Laura Lewis 12. July 2011 15:58
Financial Accounting Standards Board (FASB) has identified several factors that indicate major differences in the financial reporting needs of public companies versus private companies or governmental entities. This is an initial assessment that comes from comments over two years from dozens of inte... [More]
Categories: Assurance

Marcellus Shale and Industry Risk Factors

by Tim Marshall 7. July 2011 10:09
Here in Western and Central Pennsylvania, we are reminded daily of the many and complex issues relating to developing the Marcellus Shale gas reserves. Evolving regulatory and legislative actions include environmental policy issues, disputes over regulatory jurisdiction, neighbor vs. neighbor confli... [More]
Categories: Advisory

XBRL – So Far, So Good

by Ken Urish 7. July 2011 09:32
eXtensible Business Reporting Language (XBRL) has been adopted as the new technology standard to web-enable the financial reporting process. XBRL is intended to provide benefits to both the auditing profession and to shareholders and other users of corporate financial data. Instead of treating finan... [More]
Categories: Assurance

Social Security Benefit Statement Mailings: A Thing of the Past?

by Rocco Romano 6. July 2011 14:41
The Social Security Administration has ceased all paper mailings of SSA earnings and future benefits, savings millions for the Federal Government to help fight the national debt. [More]
Categories: Tax