Blog - Philadelphia CPA
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Here are 5 important points that you should know about the new Health Insurance and your taxes:Watch the mail for From 1095-A. If you enrolled in a Marketplace healthcare plan in 2014, you'll get this new form in the mail from the Marketplace by early...

If you are a business owner, this is an extremely important briefing.The general rule is that business owners MUST issue a Form 1099-MISC to each person, partnership, Limited Liability Company (LLC),  or Limited Partnership (LP) to whom you have paid $600 in services, rents, or...

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...