Hill, Barth and King LLC - Working Together Sets Us Apart

The auditing standards have changed throughout the years, however one aspect of them remains the same – RISK.   “It's all about the risk” and “What can go wrong?” are phrases we commonly hear in the auditing world.  And do you know what?  They’re absolutely right!

The Financial Accounting Standards Board (FASB) recently released information to help explain details surrounding the proper process of using liquidation basis accounting.

You may want to pack this update in with your favorite novel and the sunscreen as you head out for some beach or poolside fun this spring . . . because effective May 9, 2013, several changes to the administrative code will occur throughout the sunshine state.  Light spring reading is good, smart spring reading is even better.

Beginning this month, Health Insurance providers will face a new challenge related to taxation: a $500,000 limit on deductible compensation on 2013 income tax returns.

In business, nothing happens without a sale and the development of Utica and Marcellus Shale is no exception.  Utica and Marcellus Shale deposits are fraternal twins.  They share the same heritage but they are not identical, most notably where natural gas liquids (“NGL’s”), the so called “wet” gas is concerned.

It’s a calculator but it won’t produce the square root of 4,952 ... That’s because it is an online tool recently released by the IRS; an app called the Withholding Calculator.

Ohio has one of the most complicated municipal tax systems in the country. Each year at tax time, it’s a costly burden for taxpayers across the state, especially business owners who operate in multiple municipalities. The Municipal Tax Reform Coalition, a group of 25 organizations across the state, is working to change that.

Many years ago a friend told me that her sister owned a restaurant she had hoped to sell by age 55 in order to retire early and enjoy life.

“She figures it’s worth at least $150,000,” my friend said. And I smiled.

I smiled because I knew what she didn’t: Guessing about the worth of a business is like driving from Warren to Pittsburgh with a broken gas gauge. At best, you could get lucky and make your way there without incident. At worst, you may not get very far and could even find yourself in quite a bit of trouble somewhere along the way.

The Pennsylvania offices of Hill, Barth and King LLC are pleased to join forces to provide some important tax reminders to our clients and colleagues -- and other taxpayers in the Keystone State.  Attached, please find information on some of the changes to Pennsylvania Tax Code 166, which relates to electronic tax-filing procedures in Pennsylvania.

To contact us directly with questions:

On January 2, 2013 Congress passed the 2012 American Taxpayer Relief Act (“The Act”) which caused a delay in the release of many tax forms --and correspondingly, it has delayed the IRS in the processing of many tax returns.