Nondeductible IRA contributions require careful tracking
If, like many people, your traditional IRA holds a mixture of deductible (after-tax) and nondeductible (pretax) contributions, it’s important to track your contributions carefully to avoid double taxation of distributions. Why?
Reminder: Pennsylvania 1099-Misc Withholding Tax Requirements
In 2017, Act 43 created a tax withholding obligation for certain payors of Pennsylvania‐source income and lessees of Pennsylvania real estate to out of state residents.
Sage 50 & QuickBooks Desktop Updates
Sage recently implemented changes to Sage 50 software. As a result of these changes, versions of Sage 50 older than 2019 are no longer compatible with Sage 50 for 2019 and 2020, and older versions can no longer be operated on the same database platform.
Yes, SEO is also important for nonprofits
If you think search engine optimization (SEO) is something only for-profit businesses need to worry about, think again. The Google rankings of your not-for-profit’s website can make a tremendous difference in the donations and other support you receive.
5 ways to strengthen your business for the new year
The end of one year and the beginning of the next is a great opportunity for reflection and planning. You have 12 months to look back on and another 12 ahead to look forward to. Here are five ways to strengthen your business for the new year by doing a little of both:
IRS Releases 2020 Form W-4 Employee’s Withholding Allowance Certificate
The IRS has released the 2020 Form W-4 Employee’s Withholding Allowance Certificate. The 2020 Form is to comply with the income tax withholding requirement of the Tax Cuts and Jobs Act (TCJA).
New Overtime Rules Effective January 1, 2020
The DOL recently finalized its new rules effective January 1, 2020, to determine whether an employee qualifies as exempt from overtime under the Fair Labor Standards Act (FLSA). What has changed?
New law provides a variety of tax breaks to businesses and employers
While you were celebrating the holidays, you may not have noticed that Congress passed a law with a grab bag of provisions that provide tax relief to businesses and employers. The “Further Consolidated Appropriations Act, 2020” was signed into law on December 20, 2019.
Wellness programs are subject to many federal laws
At the beginning of the year, many people make resolutions about improving their physical fitness and overall well-being. Employers may seek to give these goals a boost in the longevity department by offering an employee wellness program.
Nonprofit Parking Tax Repeal
On Friday December 20, 2019, President Trump signed a spending package which included the repeal of the nonprofit parking tax. This tax applied to employee parking benefits as well as mass transit reimbursement.