Perils of the Business Privilege Tax

March 10, 2017

With Tax Season in full bloom and filing deadlines just around the corner, people often forget that more than just income taxes must be paid. One such tax, known as a Business Privilege Tax (BPT), is levied by local taxing authorities against all types of businesses, with few exceptions.  Often imposed by municipalities throughout the […]

Increased Security Measures with the IRS

February 21, 2017

Due to the increasing IRS and identity theft scams, the IRS has issued guidance (IR 2017-32) for taxpayers who call the IRS. The IRS suggests that any taxpayer who calls an IRS call center should have the following information available: Social Security Numbers and birth dates for those listed on the tax return For those […]

The Apostille: Operating in a Global Economy

January 24, 2017

As technology, media and advances in travel have made our world smaller, opportunities for business and nonprofit organizations have expanded.  With a shrinking world comes more integration than ever before.  What if Jane Smith wants to participate in a business transaction with her Pennsylvania limited liability company in Great Britain?  What if John Smith wants […]

Significant Amendments to the Pennsylvania Law on Partnerships and Limited Liability Companies Take Effect in February

December 29, 2016

Having already passed the Pennsylvania Senate on October 26, 2016 and the Pennsylvania House of Representatives on October 27, 2016, House Bill No. 1398 was approved by the Governor of Pennsylvania on November 21, 2016 and became Act No. 170 (the “Act”).  The Act amends Title 15, Corporations and Unincorporated Associations, and completely replaces the […]

Federal Judge Blocks DOL’S Overtime Regulations

November 28, 2016

The Department of Labor’s (DOL) revised overtime regulations under the Fair Labor Standards Act (FLSA) were scheduled to become effective on December 1, 2016. The new regulations increase the minimum salary level for exempt white collar employees from $23,660 per year to $47,476.00 per year.  The regulations also establish a mechanism by which the minimum […]

What’s in a Name?

October 31, 2016

Perhaps that which we call a rose by any other name would smell as sweet, but signing the name of the wrong party on a document can cause a business agreement or land transaction to sour.  It is common sense that when you enter into an agreement with another party, you want to make sure […]

DOL’S Overtime Regulations Set To Take Effect December 1, 2016

October 12, 2016

As all employers should know, on December 1, 2016 the Department of Labor’s (DOL) final overtime regulations under the Fair Labor Standards Act (FLSA) become effective. The FLSA requires that all non-exempt workers be paid overtime pay at the rate of time and one-half of their regular hourly rate for all hours worked over 40 […]

IRS Proposed Regulations Should Encourage Family Businesses To Complete Their Succession Plans In 2016

September 16, 2016

The time to act is now for implementing family business succession plans that involve transfers of business ownership interests that are valued using discounts. Valuation discounts have helped family businesses “hit home runs” with regard to the tax aspects of their succession plans.  Such discounts are generally based on the lack of control and lack […]

DOL Announces Final Overtime Rule re Overtime Regulations

June 29, 2016

After nearly a year since the Department of Labor (DOL) proposed changes to the overtime pay regulations under the Fair Labor Standards Act (FLSA), on May 18th, 2016, the DOL at long last announced the final rule. To understand the impact of the new rule, a quick review of the current FLSA regulations is needed. […]

Is Tax Exempt Financing an Option for your Manufacturing Business

June 7, 2016

Do you own or operate a manufacturing business? Are you acquiring additional property or new property, renovating your facility, acquiring expensive equipment? If you require financing for these purposes and if you will be borrowing $2,000,000.00 or more then tax exempt financing may result in savings to you. I can provide direction through the process […]

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