Stephano Slack Partner Plunges for Charity
Stephano Slack’s partner, Ralph Cetrulo, was featured in Town Square Delaware’s article for participating in the annual Polar Bear Plunge, which raised over $900,000 for Special Olympics of Delaware. Click here to view the article.
ASU 2017-12: “Targeted Improvements for Hedging Activities” – Interest Rate Swaps
The Why: Stakeholders indicated that hedge accounting requirements in current GAAP sometimes do not permit an entity to properly recognize the economic results in its financial statements. Entities wanted something that would better facilitate financial reporting that...
Forming an LLC
Let’s discuss LLCs! This is a very common business type but so many people (even those who OWN an LLC) do not actually realize what an LLC is… or what it could be. This is a great place to start if you are considering starting a business or getting your already...
IRS Issues New Guidance for 20% Qualified Business Income Deduction Including Addressing Rental Real Estate
On January 18, the Internal Revenue Service issued final regulations and three related pieces of guidance regarding the new 20 percent Qualified Business Income (QBI) deduction for pass-through businesses under Code section 199A. The new QBI deduction, created by the...
Sales and Use Tax: Pennsylvania Adopts Economic Nexus
In response to the U.S. Supreme Court’s Wayfair decision, effective July 1, 2019, taxpayers that exceed the PA sales threshold of $100,000 must: – Register for a license – Collect, report, and remit sales tax Marketplace Facilitator: A...
Delaware Creates Angel Investor Credit
The Angel Investor Job Creation and Innovation Act created a personal income tax credit for qualified investments in certain Delaware based small businesses. It is a refundable tax credit worth up to 25% of the investment. Qualified investors and high tech small...
Preparing for the Year End
As 2019 is beginning, there are several things clients can do to begin to prepare for the upcoming audit and/ or tax return request lists sent by their accountants. Sometimes these lists can feel overwhelming and daunting but here are a few things clients can do...
“I am not an Accountant” but you are Responsible for the Accounting
Often times at year end, CPA stress levels begin to escalate because of tax planning, preparation for busy season, as well as what’s to come from analyzing a client’s set of books for the entire year. Our firm has seen specific accounting errors countless times, which...
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