As inflation continues to sweep the country causing prices to rise, one cost that is about to drop is the City of Philadelphia’s Business Income and Receipts Tax (BIRT). Effective July 1, 2022, the net…

This is the final year to take advantage of 100% bonus depreciation. Here is what you need to know about how to use this generous tax break for your business. Background Bonus depreciation allows you…

The Internal Revenue Service announced on June 9, 2022 an increase in the standard mileage rates in the middle of the year.  Normally they are adjusted once a year for inflation, but this midyear adjustment…

If you are a sole proprietor, gig worker, Facebook Marketplace seller or have some other side hustle, get ready to receive tax forms at the end of 2022 if you accept payments through an app…

New legislation and backlogs at the IRS will make this tax return season more turbulent than most. Here are several tips to help you prepare: Economic Impact Payments Congress handed out three rounds of stimulus…

You have probably heard of Bitcoin and maybe Dogecoin and Ripple. There are more than 4,500 cryptocurrencies and all of them have hidden complications. Here’s what you need to know.   Every transaction has a…

As 2021 winds down, here are some ideas to help manage your small business and prepare for filing your upcoming tax return.   Identify vendors who require a 1099-MISC and 1099-NEC and obtain their tax…