New Law Eases SBA Financing Rules for ESOPs

Small business owners looking to convert their organization to an employee-owned company may have an easier path thanks to a new law signed by President Donald Trump last year.   Before the law was passed in August 2018, the rules surrounding loans backed by the Small Business Association (SBA) used to create Employee Stock Ownership Plans...

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3 Cyber Fraud Tips for Your Leadership Team

Owners, CEOs, and other positions of leadership are at higher risk of being targeted by hackers. People in these positions are specifically targeted for cyber attacks because of their decision-making power, access to resources and the company. Therefore, they are much more likely to experience attacks of impersonation, also known as CEO...

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Proposed Regulations on Reporting Life Insurance Policy Sales and Death Benefit Payments

The IRS has issued proposed regulations on the information reporting requirements under Code Secs. 101(a)(3) and 6050Y, added by the Tax Cuts and Jobs Act ( P.L. 115-97). The regulations are to apply to reportable life insurance policy sales made, and reportable death benefits paid, after December 31, 2017. Transition relief applies until these...

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PA Residents with Unearned Income Must File School Income Tax by April 15

The Philadelphia Department of Revenue has issued a press release stating that resident personal income taxpayers with unearned income must file and pay the School Income Tax (SIT) every year. SIT is due at the same time as the personal federal income tax return, on April 15.

The release further clarified that unearned income includes, among...

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Employers May Soon Receive Notices About Mismatched Names & Social Security Numbers

Summary The Social Security Administration (SSA) recently announced that it is mailing “Employer Correction Request Notices” to employers and third-party submitters with at least one 2018 Form W-2 where the name and Social Security number (SSN) do not match the SSA’s records. The notice informs the employer that corrections are needed. While...

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5 Cybersecurity Tips for Protecting Your Business

Written by Anthony Miscavige, CPA, CBCP and Emily McGraw, CPA
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Importance of Net Working Capital In M&A

By: Gen Oraa Is additional spending for legal and accounting fees post transaction worth resolving a working capital disagreement? How about the disruptive impact of management distractions and the related cost of a working capital dispute on operations? Buyers and sellers can avoid these potential challenges by performing a comprehensive net...

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Selling or Buying A Company? Why You Should Consider Financial Due Diligence

Written by Doug Knapp, ASA
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SELL-SIDE TAX CONSIDERATIONS - THREE BEST PRACTICES TO MAXIMIZE DEAL VALUE

By: Alexander Mayberry and B. Nathaniel Collins 2018 proved to be a strong year for the domestic M&A market, and the outlook for domestic M&A activity in 2019 remains positive despite investor concerns regarding U.S. trade policy and economic uncertainty. Abundant cash, unprecedented equity valuations, and low interest rates are expected to...

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Tax Diversification Strategies for Retirement

Diversification is an important principle of risk management when it comes to saving for retirement. While many investors understand the benefits of spreading their risk exposure across asset classes in their portfolios, many don’t realize that diversifying their tax exposure can have benefits in terms of managing cash flow in retirement. ...
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