What If Congress Fails to Provide an "AMT Patch" for 2010?

Tax

By Ron Kramer

The Congressional Budget Office (CBO) reported that, for 2009, 4 million taxpayers were affected by the Alternative Minimum Tax (AMT). If Congress fails to provide another temporary fix (an “AMT patch”) for 2010, the CBO estimates that the number of taxpayers subject to the AMT in 2010 will increase to 27 million.... read more >

Pennsylvania Gas Extraction Tax Legislation Declared Dead for 2010

Citing the refusal of Republican legislators to negotiate in good faith, Pennsylvania Governor Ed Rendell, in a statement released by the governor’s ... read more >

Manufacturing Sector Continues to Build Momentum

Based upon the latest information released from First Research, momentum continues to build across the manufacturing landscape. Although various parts ... read more >

What Happened to the 2010 Tax Extenders Legislation?

Tax

By Ron Kramer

Along with the many inquiries as to whether Congress will extend the Bush tax cuts, we are often asked, “What happened to the tax extenders bill?” ... read more >

Accelerating Savings and Incentives on Green Building and Energy-Efficient Renovation

Following the trends in the construction industry and the overall emphasis on environmentally friendly or green building projects, it is important to note ... read more >

New Revenue Recognition Exposure Draft Issued

Construction

By Trevor Warren

In June 2010, the Financial Accounting Standards Board (FASB) issued an exposure draft on revenue recognition - “Revenue From Contracts With Customers.” ... read more >

Pennsylvania Employers to Face Possible Criminal Charges for Worker Misclassifications

Tax

By Martin DiGiovine

Pennsylvania Governor Ed Rendell recently signed Act 72 of 2010 (previously HB 400), known as the Construction Workplace Misclassification Act, making ... read more >

Proposed FASB Revenue Recognition Rules Would Significantly Affect Contractors & Users of Construction Financial Statements

You probably have heard rumblings about the perils of proposed changes to revenue recognition rules, which would have severe implications to the construction industry. What are the details of these implications and the costs associated with compliance if the exposure draft is passed in its current state?... read more >

Ethics Training Now Required for Pennsylvania CPAs

All certified public accountants licensed in Pennsylvania must now complete 4 hours in professional ethics as part of the overall 80-hour biennial requirement. This new ethics requirement... read more >

Accounting and Tax Records Retention

Tax

By Jeffrey Wlahofsky

Many clients ask us how long they should retain their company’s accounting and tax records. Unfortunately, there is no simple and conclusive answer ... read more >