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Mar 18

Jersey Shore Landlords Become Subject to New “AirBnB Tax”

In one of the more recent attempts to regulate and tax the growing internet economy, New Jersey has become one of the first big states to adopt a surcharge on rentals of fewer than 90 days, a so-called “AirBnB Tax”. Though the tax became effective… Read More

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Jan 17

New Year’s Resolutions for Business Owners

As the New Year is here, many of us spend time creating a list of personal resolutions that often times look like the same list we prepared last year!  New diets, gym memberships often top the list.  As a business owner it’s a good time… Read More

Jan 11

Fair Workweek Law Promises Significant Changes to Employment Practices

On December 20, 2018, Mayor Jim Kenney signed into law the Fair Workweek Employment Standards Ordinance. Set to take effect on January 1, 2020, the law requires employers in the retail, hospitality, and food industries with 250 or more employees and 30 or more locations… Read More

Nov 26

Watch Out For Sales Tax

The Pennsylvania Sales Tax is imposed upon each sale at retail of tangible personal property and a few selected services.  The Use Tax is imposed upon the use within the Commonwealth of Pennsylvania of tangible personal property purchased at retail and a few selected services… Read More

Oct 08

NJ ABC Suspends Enforcement of ‘Special Ruling’ on Limited Brewery Licenses

The New Jersey Division of Alcoholic Beverage Control (“ABC”) announced Tuesday, October 2, 2018 that it will suspend enforcement of the Special Ruling, which was issued by the ABC less than two weeks earlier, on September 21, 2018, relating to limited brewery licenses. ABC’s Special Ruling… Read More

Jun 04

New Law Incentivizes Investments in Delaware-based Small Businesses by Offering Refundable Tax Credit to Angel Investors

On May 24, 2018, Delaware Governor John Carney signed the Angel Investor Job Creation and Innovation Act (the “Act”) into law, amending Titles 29 and 30 of the Delaware Code in an effort to spur job creation and innovation within the State. The Act is… Read More

Apr 23

Charitable Pledge Binding Upon Corporate Donor

Prior to May 29, 2015, Foremost Industries (“Foremost”) signed a “Gift Agreement” promising to pay to Appalachian Bible College (“ABC”) the sum of $4,000,000 in five equal annual installments.  The Agreement was binding upon Foremost and its successors and assigns.  The Agreement stated that in… Read More

Jan 22

Estate and Gift Tax Planning Opportunities Under the Tax Cuts and Jobs Act

In my January 12, 2018 blog, in which I addressed the Tax Cuts and Jobs Act[1] which became effective January 1, 2018, I reviewed some of the changes affecting the federal estate and gift tax – primarily the doubling of the exemption to $11,180,000 per… Read More

Jan 12

Estate and Gift Tax Consequences of the Tax Cuts and Jobs Act

On December 22, 2017 President Trump signed the Tax Cuts and Jobs Act which became effective January 1, 2018, although many of its provisions will sunset on December 31, 2025.  Most of the changes under the Act affect the federal corporate and personal income tax,… Read More

Dec 29

Is a Federal Income Tax Deduction Available for 2018 Real Property Taxes Paid Before December 31, 2017?

Under the Tax Cuts and Jobs Act the standard deduction has been doubled to $12,000 for single individuals and married individuals who file separately and to $24,000 for married couples who file jointly.  As a result, many individuals who will itemize on their 2017 federal… Read More