Making your business more valuable.
Picking someone to lead your company after you step down is probably among the hardest aspects of retiring (or otherwise moving on). Sure, there are some business owners who have a ready-made successor waiting in the wings at a moment’s notice. But … [Continue reading]
Pennsylvania made important changes to its LLC law effective in 2017. John H. Prorok, partner with Maiello, Brungo & Maiello, LLP, explains the key provisions. Effective dates On February 21, 2017, Act 2016-170 (15 Pa. C.S. § 8811 et seq.) went … [Continue reading]
The IRS has announced a decrease in the business standard mileage rate from 54 cents per mile to 53.5 cents per mile beginning January 1, 2017. Other standard mileage rates also change. Business standard mileage rate decreases for … [Continue reading]
The Affordable Care Act (ACA, Obamacare) included a trap for small employers who let their employees purchase their own health insurance, then reimbursed them for all or part of the cost. Employers making such reimbursements were subject to a penalty … [Continue reading]
The Protecting Americans from Tax Hikes (PATH) Act, passed December 2015, made significant - and beneficial - changes to the federal research and development tax credit program. The changes are effective for 2016. Background on the Research and … [Continue reading]
The U.S. Department of Labor (DOL)'s new overtime rules go into effect on December 1, 2016. Employees that you now have on salary may need to be converted to hourly if they’re under the new pay threshold amount. These employees must be paid overtime … [Continue reading]