New Intangible Drilling Costs (IDC) Treatment for Pennsylvania in 2014

For many years, calculating the proper Intangible Drilling Costs (IDC) deduction for Pennsylvania income tax purposes has been unclear and difficult. Recently, ... read more >

Timely Distribution of Annual Safe Harbor Notices

Under Internal Revenue Service (IRS) guidelines, plan sponsors that offer “safe harbor” contributions within their qualified retirement plans ... read more >

Pennsylvania Issues Guidance on Realty Transfer Tax Rules

The Pennsylvania Department of Revenue issued Information Notice: Realty Transfer Tax 2014-01 ("Notice") to provide guidance regarding the changes ... read more >

U.S. Taxpayers with Certain Canadian Retirement Plans Get Simplification

The IRS has simplified the procedures for electing U.S. tax deferral for Canadian Registered Retirement Plans (RRSPs and RRIFs) by eliminating the requirement ... read more >

The Challenges Facing ERISA and Future Retirees

ERISA

By Lara Fuller

How did September 2, 1974 change retirement plans for Americans? It was on that date that The Employee Retirement Income Security Act (ERISA) was signed ... read more >

Overboard with Overhead: Assessing The Overhead Myth

As donors, employees and board and community members, we’ve all heard the term "overhead" used in the nonprofit community. Overhead is ... read more >

IRS Eliminates Form 8891

Tax

By John Kohler

On October 7, 2014, the IRS issued a new revenue procedure, Rev Proc. 2014-55, which eliminates the requirement to attach Form 8891 to an individual income ... read more >

Records Retention - How Long is Long Enough?

Tax

By George Adams

Clients often ask how long their companies should retain their accounting and tax records. Unfortunately, there is no simple and conclusive answer. Records ... read more >

New Accounting Guidance Requiring Consolidation of Leasing Entities

As we move closer to the end of the year and prepare for upcoming financial statement audits and reviews, it is important to remind everyone that the Financial ... read more >