Tax Applicability: Dual Use of Equipment

Frequently, manufacturers find themselves using machinery and equipment in both taxable and nontaxable activities.  Under these circumstances, how does a manufacturer determine the equipment’s proper taxability?... read more >

Natural Gas: Supply Demand

Why is natural gas priced at nearly 44% less than at the beginning of 2009? Ted Pettko discusses the impact that supply and demand has on natural gas pricing.... read more >

IASB Issues Exposure Draft on Discount Rate for Employee Benefits

Audit

By Todd Lucas

On August 20, 2009, the International Accounting Standards Board published an exposure draft which proposes amendments to International Accounting Standard (IAS) 19 “Employee Benefits.”  The proposed amendment comes as a result of increased concerns brought on by the global financial crisis.... read more >

Best Practices in Engaging 401(k) Participants

ERISA

By Jeffery Acheson

 A 401(k) plan without adequate planning tools and processes is like a bag of groceries without a cookbook; great possibilities exist, but the odds of acceptable outcomes are greatly diminished. How do plan sponsors who genuinely believe their employees are one of their organizations’ biggest assets engage participants at the intersection of human and financial capital?... read more >

IRS Settles Offshore Account Information Dispute with UBS AG and Swiss Government

Tax

By Ron Kramer

On August 19, the Internal Revenue Service (IRS), Swiss bank UBS AG and the Swiss government reached an agreement to settle a tax dispute in which the ... read more >

PA Tax on MRI Equipment Has Broad Implications

Pennsylvania has ruled that magnetic resonance imaging (MRI) equipment and positron emission tomography/computerized tomography (PET/CT) scan equipment are “real estate” for Pennsylvania sales tax purposes in cases in which sufficient equipment has been installed pursuant to a construction contract.  Accordingly, such equipment is not subject to sales tax. Tim Adams explains how this may impact the taxability of other structures. ... read more >

Pennsylvania Free Enterprise Week - A Truly Unique Experience

As a company advisor at Pennsylvania Free Enterprise Week (PFEW), I served as the mentor/consultant to a group of high school students brought together ... read more >

Communication Counts - An Intern's Perspective

In my mind, true success of a business begins with each employee’s complete understanding of the company’s goals and mission. This can be gleaned ... read more >

What is Your Fiduciary Responsibility as a Plan Sponsor?

ERISA

By Michael Renzelman

As the sponsor of an employee benefit plan (which include 401(k), profit sharing and defined benefit plans) under the Employee Retirement Income Security Act (ERISA), you, the employer, have certain fiduciary responsibilities.  These fiduciary responsibilities are standards of conduct for those who manage an employee benefit plan and its assets and are set by ERISA.  ... read more >

Transition Relief for 403(b) Plan Administrators and Their Audit Requirements

ERISA

By Mara Bruce

In response to concerns raised by various parties, the US Department of Labor’s Employee Benefits Security Administration (EBSA) has provided transition relief for 403(b) plan administrators that make good-faith efforts to transition to the 2009 plan year ERISA annual reporting requirements.  Mara Bruce provides a summary.... read more >