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Need to Know

In an effort to keep you up to date on current tax and financial developments we will present a timely summary of the latest information that we believe will have the greatest impact to you and your business.

If you have any ideas for future updates, we would enjoy hearing from you.

New Key Numbers for 2024

All the numbers you need in one place including maximum retirement contributions including IRAs, standard mileage reimbursement, tax rates, estate and gift tax thresholds and more. Print this reference chart for use throughout the year.

Inflation Reduction Act

The recently enacted Inflation Reduction Act of 2022 contains several new environment-related tax credits that are of interest to individuals and small businesses. The Act also extends and modifies some preexisting credits. Read more.

Philadelphia City Wage Tax Reduction

Philadelphia City Wage Tax Reduction effective July 1, 2023.

City of Philadelphia Tax Basics

Philadelphia business taxes are complicated. There are a number of taxing and registration provisions for businesses that are unique to Philadelphia. For companies doing business in Philadelphia (essentially stepping foot in the City), failure to comply with any of these regulations can be costly as the interest and penalty provisions are steep. Many businesses are not fully aware of all their reporting obligations and only find out when it is too late. Philadelphia has gotten more sophisticated in tracking down taxpayers who are not in compliance.

If you are considering, or currently doing business in Philadelphia, it is important to understand and comply with their regulations. "City of Philadelphia Tax Basics" provies a brief overview of the most common business taxes. Although this is a good starting point, business owners are always better served when working with a knowledgable accountant.

Bassman Laserow, Adelman & Weiss is here to help, with City tax preparation and all your accounting needs.



Bassman, Adelman & Weiss, PC
630 Sentry Parkway East, Suite 200
Blue Bell, PA 19422
voice: 215-628-0420
fax: 215-628-3461
email: Bassman, Adelman & Weiss
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