By Frank Marano, Jr., Esquire- The Internal Revenue Service examines and audits returns and selects taxpayers for audit based on several factors, many of which are not disclosed by the Service. However, federal tax disputes often arise because tax authorities don’t agree with your tax position and because the taxation system depends on voluntary compliance. […]
By Frank Marano, Jr., Esquire- The 2017 Tax Act eased obligations on C-corporations by reducing the top corporate tax rate to 21% and placed passthrough business owners (sole proprietorships, partnerships, limited liabilities companies, and S corporations) at somewhat of a disadvantage as they continue to be taxed at the individual tax rates of the owners […]
By Frank Marano, Jr.– A recent sales tax decision from the Supreme Court in South Dakota v. Wayfair, Inc. will force businesses to reevaluate their interstate operations and systems. On June 21, 2018, the Court held that states may impose a tax on purchases made from out-of-state sellers, even if such seller does not have a physical […]
MacElree Harvey, Ltd. is pleased to announce that Louis N. Teti has been selected as Honorary Chair of the 3rd Annual Paoli Hospital Auxiliary’s Fine Art Show. Opening the weekend of October 6, the 2-day show will feature the work of Jan Wier and original art expression of 50 local and regional artists. Attendees throughout […]
MacElree Harvey, Ltd. is pleased to announce that Frank Marano, Jr. has joined the Firm’s West Chester office in the Business Practice Group. Licensed to practice law in Pennsylvania, New Jersey, and the United States Tax Court, Mr. Marano will assist clients with various business and tax planning matters. “Frank is a great addition to […]
By Stephen M. Porter As an estate planning attorney, I have been asked frequently about the impact that the Tax Cuts and Jobs Act of 2017 (TCJA) will have on planning due to the doubling of the exemption for the estate, gift, and generation-skipping taxes. As a result of this change, an individual can transfer […]
By Joseph A. Bellinghieri Now that we are past the holiday season, if you are like many Americans it is time to start thinking about filing your Individual Income Tax returns. This year the deadline is April 17, 2018, to file your 2017 taxes. However, in the event you need additional time, you have the ability […]
February 2018 MacElree Harvey, Ltd. is pleased to announce that Stephen M. Porter has joined the Firm’s West Chester office as an associate in the Estate Planning Department. Porter will work closely with clients across Pennsylvania, assisting them with various estate planning matters, including estates & trusts, tax planning, and elder law. “I am extremely […]
By Joseph A. Bellinghieri The tax bill signed by Governor Tom Wolf on October 30, 2017, made significant changes to Pennsylvania’s 1099-MISC withholding tax requirements. Act 43 of 2017 created a withholding obligation for certain payors of Pennsylvania-source income and lessees of Pennsylvania real estate to non-residents. The bill also expanded the requirements with respect to […]
By Joseph A. Bellinghieri The recently enacted Tax Cuts and Jobs Act (TCJA) is one of the more significant changes in decades to the Tax Code. While touted as “tax simplification”, the result is anything but simplification. Below are some of the key provisions of the TCJA. Individual Tax Rates and Brackets: The TCJA provides for […]
