As we’ve previously discussed, sales and use tax compliance for construction contractors can be nuanced and complicated. Pennsylvania-specific issues are complicated enough, but what happens when contractors cross the border…
Be Aware of Changes to Individual Charitable Giving for 2022 Tax Year
It’s once again time to file your individual tax return. And it’s also time to take stock of the rule changes and new regulations implemented throughout the year that affect…
Deduction Changes and Required Capitalization of R&D Expenditures under Section 174
Deducting research and development (R&D) expenditures now looks different for companies, due to changes to Section 174 of the Internal Revenue Code. These changes were enacted as part of 2017’s…
The Return of the State Small Business Credit Initiative
Did you know that a federal small business credit initiative is once again available to local entrepreneurs? The State Small Business Credit Initiative (SSBCI) Program, administered by the U.S. Department…
Tax Alert: IRS Widens Exemption for 2022 International Filings with New Schedule K-2 and K-3 Instructions
On December 2, 2022, the IRS issued new draft instructions for both Schedule K-2 and K-3 related to 2022 tax year compliance. These new instructions, which are an update to…
