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The Tax Cuts and Jobs Act permanently repealed most business deductions related to entertainment, amusement or recreation activities or a facility used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

Business Interest Deduction

The Tax Cuts and Jobs Act (“the Act”) provides for new limits on the business interest deduction that may impact the transportation industry.

TAX REFORM: A NEW DEDUCTION FOR INDIVIDUALS - 20% QUALIFIED BUSINESS INCOME DEDUCTION

The Tax Cuts and Jobs Act provided non-corporate taxpayers (e.g., S-corporations, partnerships, limited liability companies, and sole proprietorships)
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Like-Kind Exchanges No Longer Available for Personal Property

Effective after December 31, 2017, the Tax Cuts and Jobs Act (“the Act”) repeals the favorable deferral of gain generated by like-kind exchanges

Welcoming the New Year -- Recap of Federal Gas Tax Proposals, 2018 Pennsylvania Toll Increases and Pennsylvania Gas Tax Reductions

The Commonwealth of Pennsylvania decreased both the wholesale motor fuels tax and the diesel fuels tax on gasoline by .006 cents on January 1, 2018. Despite

One-Year Extension of the Alternative Fuel Excise Tax Credit for 2017

This article was in collaboration with Keith Donnelly. The Alternative Fuel Credit is a refund of federal excise taxes that many companies in the transportation

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
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AICPA Requests Guidance on TCJA

On January 29, 2018, the American Institute of Certified Public Accountants (AICPA) sent a letter to the Internal Revenue Service (IRS) requesting clarification

Changes in Ohio Financial Institutions Tax

All large corporations begin small, with a vision and strategy. The Small Business Investment Company (SBIC) program provides loans to private equity funds
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