practice alert


New Jersey Announces Two Voluntary Disclosure Initiatives Related to Corporation Business Tax and Gross Income Tax

March 6, 2014

New Jersey has announced that it will be running two voluntary disclosure initiatives to increase compliance with intangible holding companies and partnership reporting. Both initiatives will run from March 15, 2014 through… View

Construction Industry Alert: What Changes Have You Made to Your Accounting Policies Related to the IRS Repair Regulations?

February 18, 2014

In September 2013, the IRS released its final tangible property regulations (known as the repair regulations) which are effective for years beginning on or after January 1, 2014. These regulations clarify and expand the rules… View

Employee Benefit Plans Industry Alert: Department of Labor Audit Quality Study

January 23, 2014

The Department of Labor (DOL) has been conducting inspections of auditor work papers for several years and has noted a historical 32 percent deficiency rate and a trend of an increasing number of plans requiring audits with a… View

Manufacturing Industry Alert: Manufacturing Task Force Issues Report on Growing Manufacturing in the Greater Philadelphia Region

January 14, 2014

Last month, just ahead of the holiday season and in time for the New Year, the City of Philadelphia’s Manufacturing Task Force released Manufacturing Growth Strategy for Philadelphia, a detailed analysis with recommendations… View

Architecture & Engineering Industry Alert: PA Turnpike Commission Overhead Verification & New Invoicing Procedure

January 10, 2014

The Pennsylvania Turnpike Commission would like to inform you of the following procedure that is a result of forensic audits completed by the Commission and will be enforced immediately: Effective immediately for Cost Plus… View

Construction Industry Alert: Can You Benefit From Joining a Group Captive Insurance Company?

January 8, 2014

Mitigating and managing risk are essential components of any business. The most straightforward risk management tool is one we're all familiar with: insurance. Purchasing traditional insurance coverage can be a major headache… View

Architecture & Engineering Industry Alert: IRS Releases 2014 Standard Mileage Rates

December 16, 2013

On December 6, the Internal Revenue Service issued its 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning… View

Government Contracting & Engineering Industry Alert: Year-End News Roundup

December 2, 2013

Updated Per Diem Rates Released As we noted in our last update, the General Services Administration (GSA) has updated its per diem rates.  For areas that do not have specific rates, you will note that the lodging rates increased… View

Construction Industry Alert: The Importance of Accurate Cost Forecasting

October 21, 2013

Accurate cost forecasting is a crucial step contractors should not overlook. The estimated cost to complete is a key factor in determining just how profitable a contract will be. In the current economic environment, with competition… View

Government Contracting & Engineering Industry Alert: Updated Per Diem Rates Released

September 26, 2013

The IRS recently issued its annual update of special per diem rates for use in substantiating certain business expenses taxpayers incur when traveling away from home in 2013 and 2014 (Notice 2013-65). The notice provides the transportation… View