A new reporting of beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN) will go into effect starting January 1, 2024. Introduced as part of the Corporate Transparency…
Unpacking Clean Energy Incentives for Nonprofit Organizations
When the Inflation Reduction Act (IRA) was passed in 2022, it ushered in a handful of tax credits for clean energy sources like solar power, wind power or electric vehicles….
Crossing the Border: Sales and Use Tax Issues for Pennsylvania Construction Contractors Performing Jobs in Other States
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…
