Month: February 2018
February 28, 2018
The centerpiece of the Tax Cuts & Jobs Act (the “Act”) was the reduction in the top corporate income tax rate from 35% to 21%. This includes personal service corporations that were previously taxed at a flat rate of 35%. However, since many U.S. businesses operate as a flow-through entity (i.e., partnership or S corporation) … Continued
February 20, 2018
We are writing to make you aware of a significant change in Pennsylvania tax law that may impact your business. The changes made are for 2018 Form 1099s which will be filed in 2019. First, if you meet one of the parameters below, you are now required to withhold at the Pennsylvania stated tax rate, … Continued
February 14, 2018
The new tax law resulted in several changes to deductions individuals can take on their personal income tax returns. When planning for the 2018 tax year it is important to be aware of these changes and how they will impact each individual filing an income tax return.
February 05, 2018
Many people think that nonprofit organizations (NPOs) are immune to changes in regulations affecting income tax.