By Sharmil McKee on February 17, 2010
The Mayor of Philadelphia, Michael Nutter, announced a pilot program that will reduce the city’s tax rate for certain business industries. The program targets Research-and-development firms in engineering and life sciences as well as computer system design firms. Under the program, these city will exempt a portion of their net income from the business privilege [...]
Posted in Taxes |
By Sharmil McKee on July 27, 2007
Karns Prime & Fancy Food, Ltd. v. Comm’r of Internal Revenue, No. 06-1031, UNITED STATES COURT OF APPEALS FOR THE THIRD CIRCUIT (Filed: July 20, 2007) A grocery store chain, Karns, borrowed $1.5 million from its principal supplier, Super Rite. The IRS claimed that the $1.5 million was taxable income. Karns argued that the money [...]
Posted in Litigation, Taxes | Tagged loan |
By Paralegal on February 11, 2007
Our Tax Law Group helps business clients, like you, develop tax planning strategies. Our strategies help you to take full advantage of the legal tax shelters afforded by federal and state laws. For example, we can structure your partnership venture to shift your tax burden to the venture. We will work directly with your accountant [...]
Posted in Taxes |
By Sharmil McKee on December 5, 2006
A Pennsylvania court recently ruled that a claimant was not entitled to worker’s compensation because he was not an employee, but rather he was an independent contractor. The Court, while ignoring the independent contractor agreement and the non-compete agreement signed by the company and the claimant, examined the nature of the employment to determine if [...]
Posted in Employers, Taxes | Tagged independent contractors, Management, unemployment compensation, workers compensation |
By Sharmil McKee on September 14, 2006
During a meeting, a business client mentioned that she was trying to develop a budget for the next 12-months but she did not know what her tax rates or requirements were. So, in addition to setting up a meeting with my small business CPA, I provided her with the following list. These are the 2006 [...]
Posted in Taxes | Tagged income, payroll, Taxes |
