Insights

August 15, 2022

The Inflation Reduction Act includes wide-ranging tax provisions

The Inflation Reduction Act includes wide-ranging tax provisions The U.S. Senate and House of Representatives have passed the Inflation Reduction Act (IRA). President Biden is expected […]
August 11, 2022

Is your business required to report employee health coverage?

As you’re aware, certain employers are required to report information related to their employees’ health coverage. Does your business have to comply, and if so, what […]
August 5, 2022

CHIPS Act poised to boost U.S. businesses

CHIPS Act poised to boost U.S. businessesThe Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of […]
August 2, 2022

Three tax breaks for small businesses

Sometimes, bigger isn’t better: Your small- or medium-sized business may be eligible for some tax breaks that aren’t available to larger businesses. Here are some examples. […]
July 21, 2022

Important considerations when engaging in a like-kind exchange

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling it. […]
July 20, 2022

The tax mechanics involved in the sale of trade or business property

There are many rules that can potentially apply to the sale of business property. Thus, to simplify discussion, let’s assume that the property you want to […]
July 18, 2022

The tax obligations if your business closes its doors

Sadly, many businesses have been forced to shut down recently due to the pandemic and the economy. If this is your situation, we can assist you, […]
July 14, 2022

Philadelphia Tax Update for Businesses: New Philadelphia Tax Center

Starting in November 2021, Philadelphia began switching to a new tax system that allows taxpayers to manage their taxes online. The new Philadelphia Tax Center is […]
July 7, 2022

Vehicle expenses: Can individual taxpayers deduct them?

It’s not just businesses that can deduct vehicle-related expenses on their tax returns. Individuals also can deduct them in certain circumstances. Unfortunately, under current law, you […]
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