The passage of the Tax Cuts and Jobs Act in December 2017 ushered in significant changes to the U.S. tax code. From new tax deductions to accounting method changes to succession-planning opportunities, below are some strategies for business owners to consider with a new year underway. As with most tax provisions, there are no cookie-cutter applications for these concepts – it all depends on your business circumstances and objectives, so be sure to discuss the specific details with your...
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Banking & Finance
Cash-balance plans can help business owners catch up
Business owners in the Lehigh Valley such as sole proprietors, physician practice partnerships, law practice partnerships and entrepreneurs can reduce their personal and business tax burdens while substantially increasing retirement savings by offering a cash-balance plan to both owners/partners and employees. What distinguishes cash-balance plans from other retirement-savings vehicles is that they have significantly higher contribution limits than more traditional retirement plans – and...
Read More »Donor dip? Local giving steady under new tax law
As tax season cranks up, nonprofits across the region are assessing the impact on donor giving of the federal tax overhaul that took effect at the end of 2017.
Read More »Insurance retail stores proving durable, but growth slowing down
Two Pennsylvania insurance companies that have had ventures into retail storefronts say that their initiatives continue to show benefits to consumers but expansion plans are on hold at least through 2019.
Read More »Taxing time: Accountants, taxpayers adjust to new law
The first full year of the Tax Cuts and Jobs Act should mean lower taxes for virtually everyone – from individuals and families to small and large businesses. But there are still a number of minefields for taxpayers, who may not have clarity until after the 2019 season, tax experts said.
Read More »American Bank reports record earnings for 2018
American Bank Inc., parent company of American Bank in South Whitehall Township, is reporting record net income for 2018.
Read More »PNC Bank acquires South Whitehall firm
Pittsburgh-based PNC Bank plans to acquire a South Whitehall Township financial firm.
Read More »Treasurer to push state plan for private-sector saving
State Treasurer Joe Torsella’s office intends to ring in 2019 by seeking to drum up support for a state-run retirement savings program for private-sector workers.
Read More »Three rules on the path to financial success
You can find financial advice everywhere — TV, the internet, friends, and family. It’s all over the place. Some of it’s good; most of it’s not. And to make matters more confusing, most advice is situation-dependent. Your neighbor’s perfect financial plan may turn out to be a disaster for you.
Read More »Bethlehem KIZ companies receive $400K in tax credits
Seven Bethlehem startups are sharing $405,567 in tax credits awarded through the Keystone Innovation Zone tax credit program.
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