Author Archives:Admin

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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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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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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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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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Remittance Schedules: How To Know And Meet Your Deadlines

Part of offering a defined contribution plan, whether a 401(k) or a 403(b) plan, is making sure that the money participants contribute from their paycheck is deposited in their retirement account in a timely manner. While this might seem like a relatively minor and simple task in the scope of a plan sponsor’s fiduciary duties, the Department...
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IRS Notice: Farmers Given Estimated Tax Penalty Relief

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6 Ways Digitization Is Disrupting the Supply Chain

The arrival of Industry 4.0 is heralding the next era in supply chain management, in which suppliers and customers come together in entirely new ways, blurring the lines between the digital and physical worlds and erasing traditional organizational boundaries. Industry 4.0 is an overarching—and unavoidable—revolution in manufacturing, driven...

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