St. Clair CPA Solutions Blog
02/14/2018
Attend our informative new program from 8 to 10 am on Tuesday, February 27 in our PA office or Thursday, March 1 in our NJ office to understand how the new tax law will impact individuals and businesses. This program will cover key provisions of the TCJA and provide an opportunity to have your questions answered by our tax experts. Find details and registration links on our...
02/09/2018
The Tax Cuts and Jobs Act (TCJA) provides businesses with more than just lower income tax rates and other provisions you may have heard about. Here's an overview of some lesser-known, business-friendly changes under the new law, along with a few changes that could affect some businesses adversely.Good NewsMany of the new law's provisions will reduce the amount of taxes your...
02/09/2018
What does tax debt have to do with a passport? Passports are issued by the State Department — not the IRS. But a 2015 law requires the IRS to notify the State Department of taxpayers that have "seriously delinquent tax debt." This is generally defined as tax debt exceeding $50,000 and for which a lien has been filed (for tax years beginning after Jan. 1, 2016). Unless...
02/09/2018
As you've heard by now, the Tax Cuts and Jobs Act (TCJA) includes a number of changes that will affect individual taxpayers in 2018 and beyond. Significant attention has been given to the reduced tax rates for most individuals and the new limit on deducting state and local taxes. But there is more to the story. Here's a summary of some of the lesser-known provisions in the new...
02/09/2018
Most U.S. businesses will receive a big tax cut starting with their 2018 tax years, thanks to the new law that was enacted on December 22. But some industries (such as retail, hospitality and banking) generally expect to reap more benefits than others (such as certain professional practices).The provisions in the law — known as the Tax Cuts and Jobs Act (TCJA) — are...
02/09/2018
Our Clients and Friends Enjoy BalletX Open Rehearsal, January 16, 2018A standing-room only audience of our clients and friends, along with BalletX donors, enjoyed an exciting Open Rehearsal of a world premiere that BalletX will perform during its Spring Series in March 2018, followed by a reception with the dancers and world-renowned choreographer, Darrell Grand Moultrie. St....
02/09/2018
Stephanie S. Sommers, CPA elected to 2018-19 SLATED AFWA NATIONAL BOARD OF DIRECTORSSt. Clair CPA Solutions congratulates Stephanie S. Sommers, CPA, the firm’s Controller and Human Resources Manager, on her recent election to the Accounting & Financial Women’s Alliance (AFWA) 2018-19 slated National Board of Directors. Ms. Sommers is presently serving as AFWA...
01/05/2018
U.S. financial markets were strong throughout 2017 and capped off the year with even more gains in December. All three major indices were up for the month and the quarter. In December, the Dow Jones Industrial Average led the way with a return of 1.92 percent. The S&P 500 Index gained 1.11 percent, and the Nasdaq Composite trailed with a gain of 0.48 percent. For the quarter,...
11/19/2017
Our team is growing with new employees. Please join us in welcoming the newest members of our team to both offices!In Merchantville, NJ:• Jake Faford, Accounting Associate• Shruthi Somashekar, Senior Associate In Conshohocken, PA: • Todd Moses, CPA, Manager, Accounting & Auditing• Devin Uqdah, Senior Tax Associate• James F. Knight, Jr., Senior Accountant• Bonnie...
11/19/2017
In a recent blog, National Taxpayer Advocate Nina Olson explained why taxpayers can't rely on answers to Frequently Asked Questions (FAQs) and Answers and other forms of "unofficial" guidance that are posted on the IRS website. While tax professionals already knew this, many taxpayers may find it to be a disturbing revelation.Olson's blog notes that there are three types of...
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