H2R CPA Blog

How much is my business worth?

by Alex M. Kindler, CPA/ABV/CFF/PFS, CVA, MBA There are many circumstances which might require a professional assessment of the value of your business, such as selling the business, succession planning, divorce, retirement planning and estate planning. Because a business is a significant asset to owners, lenders, creditors and other parties of interest, it is critical … Read more

Overtime Rule Will Not Go Into Effect Dec 1

by H2R CPA Team​On November 22nd, a Federal judge issued a preliminary injunction against a US Department of Labor Final Rule updating the Fair Labor Standards Act (FLSA), which was set to go into effect December 1, 2016. The rule specified a new salary level above which certain white collar workers may be exempt from overtime pay … Read more

Update on Recent PA Tax Changes

by H2R CPA Team The recently enacted Pennsylvania House bill, HB 1198, contains the following noteworthy items: The 1% sales tax discount for timely filing will be maxed out at $25 per month. PA lottery winnings are now taxable for PA. This is effective 1-1-16, so anyone who won earlier this year may need to pay some estimates. Going … Read more

Updated Overtime Rule

by H2R CPA Team On May 18, 2016, the US Department of Labor issued a Final Rule updating the Fair Labor Standards Act (FLSA) salary level above which certain white collar workers may be exempt from overtime pay requirements (time and one-half) when working more than 40 hours per week. Important features of the Final … Read more

H2R CPA Tax Tip: Home Office Deduction

by H2R CPA Team Did you know…? There is a simple way to deduct your home office on your tax return without having to make the complex calculations, allocations, and substantiation of expenses otherwise required. Home office deductions are available to both self-employed taxpayers and employees. It’s important to evaluate whether your home office qualifies … Read more

Social Security Benefits Changing May 1

by Paul K. Rudoy, CPA/PFS, Managing Partner Individuals ages 66 to 70 must act fast to save thousands of dollars. The Bipartisan Budget Act of 2015 made a major change to a popular Social Security benefit collecting strategy. The two big changes were for Restricted Applications and Voluntary Suspension, sometimes known as File and Suspend. … Read more