Two recent United States Tax Court (the Tax Court) opinions David P. Durden v. Commissioner et ux., TC Memo 2012-140 and Joseph Mohamed, Sr., et ux. v. Commissioner, TC Memo 2012-152 reinforce the importance of knowing and following the rules for claiming charitable deductions on your tax returns.
The Pennsylvania Supreme Court, in a decision issued on December 21, 2011, reversed two July 2009 decisions of the Commonwealth Court of Pennsylvania that held the acquisition and installation of an MRI system and a CT Scan system were not subject to Pennsylvania sales tax.
Act 32 of 2008, a law that reforms and standardizes the local earned income tax (EIT) system, carries new requirements for administering local taxes, uniform withholding and remittance of the tax that go into effect Jan. 1, 2012.
Making Philadelphia a more “friendly” business community, tax-wise, has been a continuing challenge.
Treating a worker who provides services on your behalf as an “independent contractor” rather than an “employee” has numerous benefits for tax purposes.
Doing business in Philadelphia can be very expensive, particularly if you fail to pay your taxes in a timely fashion.
If you have not read or heard about it and if you owe taxes to the state or the city, you can expect to be hearing from these taxing authorities in the near future.