Blog - Philadelphia CPA
1118
paged,page-template,page-template-blog-large-image,page-template-blog-large-image-php,page,page-id-1118,paged-14,page-paged-14,ajax_fade,page_not_loaded,,qode_grid_1300,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-,wpb-js-composer js-comp-ver-5.6,vc_responsive
 

Blog

On December 16, 2014, Congress passed the "Tax Increase Prevention Act of 2014", that the President signed into law on December 19, 2014. The Act extends through 2014 a number of depreciation and other expensing provisions for businesses that had expired at the end of...

For most of us, our home is one of our most valuable assets, as well as most vulnerable assets to creditors.Here are some proven ways to protect your home:Homestead Exemption--This is a statutory exemption available in most states to protect a certain amount of the...

Every buyer of a small business needs to consider the following 3 issues when purchasing a business"Buy Assets and Not Liabilities. "Asset Purchases" are recommended whereby the buyer acquires the assets of the business only. The assets include goodwill, name, equipment, supplies, inventory, customer lists,...

While the tax law may not always require receipts, the tax law always requires proof. If you do not have receipts, you have to prove your expenses in some other way.-which may mean reconstructing your business deductions several years after the fact. You will make...

Strategy for C CorporationHave your C Corporation provide company-paid qualified long-tern care coverage as an employee benefit for selected employees, such as yourself. This coverage is eligible for the same tax-advantaged treatment as a regular company-paid health insurance program. The result is the corporation can...

Borrowing payroll tax withholding funds is stealing. Why? It's not yours. When you or your corporation withhold money from the employees, you individually act in a fiduciary capacity and have the responsibility to remit that money to the government timely.Your willful failure to accomplish this,...