Resources For Employers
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New information return and payroll tax reporting rules require attention
The One Big Beautiful Bill Act (OBBBA) introduced or updated numerous business-related tax provisions. The changes that are likely to have a major impact on employers and payroll management companies include new information return and payroll tax reporting rules....
Receive $10,000 in cash at your business? The IRS wants to know about it
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. Here are some answers to questions you may have. What are the requirements? Although many...
Final regs clarify catch-up contribution rules under SECURE 2.0
Remember the SECURE 2.0 Act? It was part of a massive year-end “omnibus” spending package signed into law in 2022. Like many laws, SECURE 2.0 contains provisions that necessitate federal implementation guidance. One area of particular concern for employers has been...
IRS releases guidance on changes to R&E expensing
Among its numerous tax provisions, the One Big Beautiful Bill Act (OBBBA) reinstated immediate deductions for research and experimental (R&E) expenditures under Internal Revenue Code Section 174, beginning in 2025. The IRS has recently issued transitional guidance...
The benefits of budget and cash flow planning
Running a successful business isn't just about generating sales. It's about making sure the money coming in and going out is understood, managed, and strategically directed. That’s where budget and cash flow planning come in. Together, these tools give business owners...
The OBBBA will soon eliminate certain clean energy tax incentives
For some time, President Trump and the GOP have had their sights on repealing many of the tax incentives created or enhanced by the Inflation Reduction Act (IRA). With the enactment of the One, Big, Beautiful Bill Act (OBBBA), they’ve made progress toward...
LIVE WEBINAR July 29 at 12 pm | One, Big, Beautiful Bill: Smart Strategies for Business Tax Planning
On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). While the OBBBA makes permanent numerous tax breaks, it also eliminates several others, including some that had been scheduled to resume after...
The One, Big, Beautiful Bill Act extends many business-friendly tax provisions
The One, Big, Beautiful Bill Act (OBBBA) includes numerous provisions affecting the tax liability of U.S. businesses. For many businesses, the favorable provisions outweigh the unfavorable, but both kinds are likely to impact your tax planning. Here are several...
President Trump signs his One, Big, Beautiful Bill Act into law
On July 4, President Trump signed into law the far-reaching legislation known as the One, Big, Beautiful Bill Act (OBBBA). As promised, the tax portion of the 870-page bill extends many of the provisions of the Tax Cuts and Jobs Act (TCJA), the sweeping tax...
The U.S. Senate passes its version of President Trump’s tax bill
The U.S. Senate passed its version of The One, Big, Beautiful Bill (OBBB) by a vote of 51 to 50 on July 1. (Vice President J.D. Vance provided the tiebreaking vote.) At its core, the massive bill is similar to the bill passed by the U.S. House of Representatives last...
5 tax breaks on the table: What business owners should know about the latest proposals
A bill in Congress — dubbed The One, Big, Beautiful Bill — could significantly reshape several federal business tax breaks. While the proposed legislation is still under debate, it’s already sparking attention across business communities. Here’s a look at the current...
The House passes The One, Big, Beautiful Bill Act: An overview of its tax provisions
The U.S. House of Representatives passed its sweeping tax and spending bill, dubbed The One, Big, Beautiful Bill Act (OBBBA), by a vote of 215 to 214. The bill includes extensions of many provisions of the Tax Cuts and Jobs Act (TCJA) that are set to expire on...
Mitigate the risks: Tips for dealing with tariff-driven turbulence
President Trump’s “Liberation Day” announcement of global tariffs caught businesses, as well as foreign countries and worldwide financial markets, off guard. While the president has long endorsed the imposition of tariffs, many businesses expected him to take a...
FinCEN issues interim final rule on Beneficial Ownership Information (BOI) reporting
Entities created in the United States not required to file As promised, on March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued an interim final rule that officially removes the requirement for U.S. companies to file beneficial ownership...
Exploring business entities: Is an S corporation the right choice?
Are you starting a business with partners and deciding on the right entity? An S corporation might be the best choice for your new venture. One benefit of an S corporation One major advantage of an S corporation over a partnership is that shareholders aren’t...
Disaster victims may qualify for tax relief…including on amended returns
Victims of presidentially declared disasters in recent years who couldn’t previously claim a casualty loss deduction may now be able to claim a refund. Additional tax relief also might be available. Read on to learn more about the potential opportunities for victims...
FinCEN will extend Beneficial Ownership Information (BOI) reporting deadline beyond March 21, 2025
Deadline and enforcement suspended pending development of new regulations. There is yet another update regarding the continuing saga that is Beneficial Ownership Information (BOI) reporting. At the end of last week FinCEN announced they will extend the current March...
Many business tax limits have increased in 2025
A variety of tax-related limits that affect businesses are indexed annually based on inflation. Many have increased for 2025, but with inflation cooling, the increases aren’t as great as they have been in the last few years. Here are some amounts that may affect you...
Pennsylvania business owners and nonprofits: Annual Report filing requirement begins this year
From the Pennsylvania Department of State (PA DOS) website: Beginning in 2025 the Commonwealth of Pennsylvania's Department of State (DOS) now requires most domestic and foreign filing associations to file an Annual Report [DSCB:15-46]. According to the PA DOS...
L. Brent Kolb Named Managing Director of DunlapSLK
DunlapSLK is pleased to announce that L. Brent Kolb, CPA, MT has been named as the firm's new Managing Director. Brent succeeds Dennis Dunlap, who will continue in his role as one of the firm’s Shareholders. Dennis' focus will be on continuing to serve clients while...
President Trump’s tax plan: What proposals are being discussed in Washington?
President Trump and the Republican Congress plan to act swiftly to make broad changes to the United States — including its federal tax system. Congress is already working on legislation that would extend and expand provisions of the sweeping Tax Cuts and Jobs Act...
The standard business mileage rate increased in 2025
The nationwide price of gas is slightly higher than it was a year ago and the 2025 optional standard mileage rate used to calculate the deductible cost of operating an automobile for business has also gone up. The IRS recently announced that the 2025 cents-per-mile...
DOL’s final rule on overtime eligibility appears doomed
In April 2024, the U.S. Department of Labor (DOL) announced it was rolling out a new final rule on eligibility for overtime pay. The move prompted mixed reactions from observers, much concern among employers and, inevitably, legal challenges from its staunchest...
Federal court rules against DOL’s “white collar” overtime rule
A federal district court judge has struck down the Biden administration’s new rule regarding the salary threshold for determining whether certain employees are exempt from federal overtime pay requirements. The first phase of the rule took effect for most employers in...
Five ways to keep your business running smoothly with accounting efficiency
Managing daily accounting operations with limited time and resources is a common challenge for businesses. Improving efficiency not only alleviates the pressure of an overwhelming task load but also ensures that the most valuable information is available for...
Taxes take center stage in the 2024 presidential campaign
Early voting for the 2024 election has already kicked off in some states, but voters are still seeking additional information on the candidates’ platforms, including their tax proposals. The details can be hard to come by — and additional proposals continue to emerge...
Federal court rejects FTC’s noncompete agreement ban
In April 2024, the Federal Trade Commission (FTC) approved a final rule prohibiting most noncompete agreements with employees. The ban was scheduled to take effect on September 4, 2024, but ran into multiple court challenges. Now the court in one of those cases has...
Is it time to upgrade your business’s accounting software?
By now, just about every company uses some kind of accounting software to track, manage and report its financial transactions. Many businesses end up using several different types of software to handle different accounting-related functions. Others either immediately...
Coordinating Sec. 179 tax deductions with bonus depreciation
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year Section 179 depreciation deductions and first-year bonus depreciation deductions. These...
IRS ramps up compliance enforcement against certain businesses
The Inflation Reduction Act provided the IRS with billions of dollars of additional funding to reduce the so-called “tax gap” between what taxpayers owe and what they actually pay. The tax agency has already launched numerous initiatives aimed at this goal, including...
Links to Government Resources
U.S. Small Business Administration (SBA) Paycheck Protection Program Loans FAQs
U.S. Small Business Administration Three-Step Process: SBA Disaster Loans
PA Department of Labor Form UC-1921W Refusal of Suitable Work Notification
PA Employer UC & COVID-19 FAQs
PA Department of Community and Economic Development
US Department of Labor (DOL) Poster for Employers
US Department of Labor (DOL) Families First Coronavirus Response Act: Questions & Answers
PA Industry Operation Guidance
(Life-Sustaining Businesses)
Bucks Back to Work Small Business Grant
Montgomery County MontCo Strong Small Business Grant Program: Eligible small businesses in Montgomery County can apply for up to $25,000 to help with making rent or mortgage payments, meeting payroll expenses, and covering utility bills.