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Joseph Heisler

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IRS Intends to Issue Proposed Regulations Regarding the Limit for the Deduction of Business Interest

On April 2, 2018, the Internal Revenue Service ("IRS') issued Notice 2018-28 announcing its intent to issue proposed regulations addressing the

Changes to the Entertainment Expense

The Tax Cuts and Jobs Act permanently repealed most business deductions related to entertainment, amusement or recreation activities or a facility used

New Limitation on Business Losses of Pass-through Entities

The Tax Cuts and Jobs Act expands certain limitations on losses for non-corporate taxpayers. The new provisions limit the aggregate amount of deduction

New Pennsylvania Withholding Requirement on 1099-MISC Filers for Non-Residents

*Alert* - The Pennsylvania Department of Revenue delayed the penalty for failure to withhold until July 1, 2018. See Our Thoughts On dated 2/9/2018. Under

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Proposed Pa. House Bill Would Repeal Department of Revenue Disallowance of 100% Bonus

The recently enacted Tax Cuts and Jobs Act (“Act”) signed into law December 22, 2017 has brought significant changes to the federal tax system.

Geological and Geophysical Costs Now Amortizable Over 24 Months for Certain Non-E&P Companies

Generally, any geological and geophysical (G&G) expenses paid or incurred in connection with the exploration for, or development of, oil or gas within

New PA Withholding Requirement on Royalties, Bonus Payments, Rents and other Business Income

Under Act 43 of 2017, anyone that pays Pennsylvania-source non-employee compensation or business income to a non-resident individual or disregarded entity

Disallowance of the Entertainment Expense

The Tax Cuts and Jobs Act permanently repealed most business deductions related to entertainment, amusement, or recreation activities or a facility used

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New Limitation on Business Losses of Non-Corporate Taxpayers

The Tax Cuts and Jobs Act expanded certain pass-through limitations on losses for non-corporate taxpayers. The new provisions limit the aggregate amount

IRS Announces Updates for Contribution Limits and Income Thresholds for Retirement Plans in 2018

Employees who participate in 401(k), 403(b) or 457(b) plans will be able to contribute up to $18,500 in 2018, up from $18,000 for 2017. This limit is aggregated

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