Year: 2021
State and Local Tax Planning Consideration for Year End – 12.31.2021
December 17, 2021
The House version of the Build Back Better Act, residing in the Senate for consideration, contains a variety of provisions that we discussed in a previous blog, U.S. House Passed … Continued
U.S. House Passed the Build Back Better Act – Waiting for the Senate to Weigh In
November 29, 2021
On November 19, the U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213. While we are waiting for the Senate to vote … Continued
2022 Cost-of-Living Adjustments
November 19, 2021
Don’t forget to factor 2022 cost-of-living adjustments into your year-end tax planning The IRS recently issued its 2022 cost-of-living adjustments for more than 60 tax provisions. With inflation up significantly … Continued
Potential Tax Law Changes Affecting Business Year-End Tax Planning
November 11, 2021
The end of the tax year is fast approaching for many businesses, but their ability to engage in traditional year-end planning may be hampered by the specter of looming tax … Continued
Potential Tax Law Changes Affecting Individual Year-End Tax Planning
November 11, 2021
As if another year of the COVID-19 pandemic wasn’t enough to produce an unusual landscape for year-end tax planning, Congress continues to negotiate the budget reconciliation bill. The proposed Build … Continued
Tax Related Provisions of the Investment and Jobs Act
November 10, 2021
Almost three months after it passed the U.S. Senate, the U.S. House of Representatives has passed the Infrastructure Investment and Jobs Act (IIJA), better known as the bipartisan infrastructure bill. … Continued
Delaware Relief Grants Forgiveness Application Due 12.31.2021 – Don’t Delay
October 28, 2021
Did you receive a Delaware Relief Grant? The State of Delaware and New Castle County worked together to provide relief to Delaware nonprofits and small businesses impacted by the COVID-19 … Continued
Disasters and Your Taxes: What You Need to Know
September 23, 2021
Homeowners and businesses across the country have experienced weather-related disasters in recent months. It wasn’t that long ago that Hurricane Ida decided to visit our area and impact much of … Continued
SAS No. 134 – Your Audit Report is Changing
August 30, 2021
In May 2019, the Auditing Standards Board (ASB) of the American Institute of Certified Public Accountants (AICPA) issued Statement on Auditing Standards (SAS) No. 134, Auditor Reporting and Amendments, including … Continued
Capitalization Policy for Nonprofits
June 29, 2021
Nonprofit organizations have two options when purchasing assets with a useful life of greater than one year: expense or capitalize. Assets which are capitalized are referred to as fixed assets … Continued