Timely Filing Vendor Discount If you have noticed that your vendor discount has been capped at $25 or an amount lesser than previously received by your company, be sure to thank Governor Wolf. … [Read more...] about PA Sales Tax Changes
IRS Announces Standard Mileage Rates for Business, Charity, Medical and Moving
The Internal Revenue Service has issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving … [Read more...] about IRS Announces Standard Mileage Rates for Business, Charity, Medical and Moving
General Partner Liable for Partnership Taxes
Employers are responsible for collecting (withholding) and remitting their employees’ payroll taxes, which includes the employee share of Social Security, Medicare and federal income taxes. Far too … [Read more...] about General Partner Liable for Partnership Taxes
Tax Implications When Selling Capital Assets
Generally, the IRS requires that a capital gain or loss be reported for tax reporting purposes when a capital asset is sold or exchanged. Thus, it is important that you understand what a capital … [Read more...] about Tax Implications When Selling Capital Assets
Form 1099-MISC Misuse and Misconceptions
Since the December 31 year end is quickly approaching, it is the time when some employers think about issuing their employees a holiday or performance bonus. Generally, all payments made to employees … [Read more...] about Form 1099-MISC Misuse and Misconceptions
2017 Social Security Changes
The Social Security Administration has announced its increases to the 2017 maximum amount of earnings subject to the Social Security tax and the monthly benefits to be paid to Social Security … [Read more...] about 2017 Social Security Changes
