Hiring in PA? Great! (but avoid this common compliance issue)

by Kevin McGarry 29. June 2012 09:23
  In 1997, the Commonwealth of Pennsylvania enacted Act 58, requiring all employers to report information on the employees they hired.  This legislation was created to assist The Commonwealth to locate parents who were not making their child support payments.  This system also assist... [More]
Categories: Advisory

Bonus Depreciation Introduced by House Democrats

by Tom Guappone 26. June 2012 10:41
Democrats on the House Ways and Means Committee introduced the Invest in America Now Bill of 2012 on June 20.  The bill includes legislation that would extend 100% bonus depreciation through 2012. The House Democratic bill is targeting businesses that would immediately benefit from the acceler... [More]
Categories: Tax

Growth Companies or Empty Shells?

by Hiller Hardie 22. June 2012 11:00
    Two months after the JOBS Act was introduced, many “emerging growth companies” that benefit by reduced SEC and Sarbanes-Oxley compliance burdens, have practically zero employees. According to the Wall Street Journal, a large portion of the companies benefitting from reduc... [More]
Categories: Advisory

Updated Fee Disclosures - ERISA 408(b)(2)

by Kevin McGarry 21. June 2012 11:35
Effective July 1, 2012, there will be new ERISA 408(b)(2) disclosure rules. The regulation is intended to help plan sponsors/fiduciaries understand the administrative and investment costs being paid from their plan’s assets. Individual plan holders should have received information directly fro... [More]
Categories: Advisory

Landmark decision by the U.S. Tax court provides guidance for a defined value clause (formula clause gifts) used in the taxpayer’s gifting strategy

by Dennis Stuchell 18. June 2012 08:45
  In March of 2012, the U.S. Tax Court filed its memorandum of findings regarding a defined value clause used in the taxpayer’s gifting strategy in Wandry v. Commissioner (March 26, 2012).  Not only was the decision a big win for the taxpayer, but the Tax Court provided guidance for... [More]
Categories: Tax

Hiring May Slow During Second Quarter of 2012

by Michael Popeck 13. June 2012 15:00
  In a recent survey conducted by the AICPA, business executives responded with more guarded views this quarter versus last quarter about the 12-month outlook for the U.S. economy.  However, most executives viewed their own companies with a better outlook than the U.S. economy as a whole.... [More]
Categories: Advisory

IRS Provides Additional Written Guidance to Assist With Employee vs. Independent Contractor Determination

by Steven Sodini 7. June 2012 10:03
In October, 2011, the IRS published late Summertime Tax Tip 2010-20, in April, 2012, the IRS issued IRS Publication 1779, and in May, 2012, the IRS published an additional article called “independent contractor or employee?”, all of which attempt to provide some additional written guidan... [More]
Categories: Tax