IRS Updates FAQs on Certain ACA Provisions (2/7/17): The Trump Administration and the Republican majority in Congress plan to repeal and replace the Affordable Care Act (ACA) in the coming months. In the meantime, however, employers must continue to comply with the existing rules for 2016, including the information reporting requirements and shared responsibility provisions. (Read more.)

Don't Click on Phony QuickBooks Email (1/26/17): The Better Business Bureau is warning users of Intuit's QuickBooks accounting software of a new email phishing scam. The message looks like an email alert from QuickBooks, but it's really a phishing con. (Read more.)

Get Ready Taxpayers: Some Filing Due Dates are Chaning (1/19/17): Thanks to two new laws, the due dates have been changed for various tax returns for the 2016 filing year and forward. (Read more.)

Important Tax Figures (1/12/17): Every year, the dollar amounts allowed for various federal tax benefits are subject to change based on inflation adjustments and legislation. Here are some important tax figures for 2017, compared with 2016. (Read more.)

Standard Mileage Rates (12/13/2016): The IRS has issued the 2017 optional standard mileage rates to be used to calculate the deductible costs of operating an automobile for business, medical, moving and charitable purposes. The 2017 standard mileage rate is 53.5 cents per mile for business miles driven (down from 54 cents in 2016), and 17 cents per mile for medical and moving expenses (down from 19 cents in 2016). The rate per mile for miles driven for charitable purposes is permanently set by statute at 14 cents.

New Overtime Rules Suspended for Now (11/28/2016): Many employers have been wrestling with plans to comply with new U.S. Department of Labor (DOL) overtime rules since last May. That's when the rules were finalized, with a December 1 compliance deadline. Those new rules included raising the minimum salary overtime exemption to $913 per week from $455. A little more than a week before the deadline for the rules was to take effect, a federal court has issued an injunction, at least temporarily blocking implementation of the changes. (Read more.)

30-Day Delay in ACA Healthcare Reporting Deadlines (11/21/2016): On November 18, the Internal Revenue Service announced it is delaying the 2017 Affordable Care Act healthcare reporting requirements. In Notice 2016-70, the IRS announced that the deadline for providing to individuals the 2016 Form 1095-B and Form 1095-C is delayed from January 31, 2017 to March 2, 2017. (Read more.)

Tax Briefing: Post-Election Tax Policy Update (11/11/2016): CCH Incorporated has released a special report regarding tax law changes that Donald Trump's win is expecting to bring. (Read more.)

Cybersecurity Awareness: Protect Valuable and Vulnerable Assets (11/9/2016): Our world is more interconnected than ever before. The Internet has become an integral part of everyone's business and personal lives. But along with Web-based opportunities come risks of breaches and associated losses. The U.S. Department of Homeland Security has launched a series of education seminars to raise awareness about cybersecurity and to increase the U.S. resiliency against the threat of a cyber incident. Here, we reveal findings from two recent studies that underscore the importance of protecting your business against data breaches. (Read more.)

ERP Software – Buy New or Improve Existing? (10/4/2016): At most companies, operations management would admit that the use of business software, such as ERP (enterprise resource planning), could be improved. But how - and when? (Read more.)

IRS Proposed Regulations Target Valuations for Interfamily Transfer Purposes (9/27/2016): Internal Revenue Code Section 2704 deals with the treatment of certain lapsing rights and restrictions for valuation purposes. On August 2016, the Department of the Treasury and the Internal Revenue Service published Estate, Gift, and Generation Skipping Transfer Taxes: Restrictions on Liquidation of an Interest regarding proposed changes to Section 2704 ("Proposed 2704 Regulations"). (Read more.)

Health Savings Account Limits for 2017 ( 9/12/2016): The IRS has announced the inflation-adjusted amounts that individuals and families can contribute to Health Savings Accounts (HSAs) in 2017. The tax agency also announced the minimum required deductibles and out-of-pocket maximums for high-deductible health plans. (Read more.)


Strategies: December 2016

  • Year-End Tax Strategies for Small Businesses
  • New IRS Guidance for Designated Roth Accounts
  • Did You Miss the 60-Day Deadline for Your IRA Rollover?
  • DOL Releases 2016 Form 5500
  • Sisterson Happenings
Strategies: September 2016
  • Take a Fresh Look at the R&D Credit
  • New Overtime Rules Issued: What it Means for You
  • The Latest Tax Developments for Partnerships
  • New Rules for Certain Investment Advisers
  • Client Spotlight: Snapology
  • Sisterson Happenings
Strategies: June 2016
  • FASB Issues Going Concern Standard
  • Too Much Paperwork? What You Can Throw Away After Filing
  • Get More Bang for Your Buck with Tax-Favored Employee Benefits
  • Developing an ERP Software Strategy
  • Sisterson Happenings
  • Pitt's Institute of Entrepreneurial Excellence
Strategies: March 2016
  • Tax Related Identity & Tax Scams
  • Reduce the Threat of Identity Theft from Payroll Records at Your Business
  • IRS Compliance Questions on the 2015 Form 5500 - Do Not Complete, But Do Not Ignore
  • The Small Business Retirement Plan Tax Credit
  • Client Spotlight: The Pittsburgh Foundation
  • Sisterson Happenings

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Sisterson Again Recognized for Quality Control Standards, December 2016: Sisterson & Co. LLP has achieved the highest level of report following a peer review of the Firm’s quality controls for accounting and auditing engagements. This is the ninth consecutive review period for which the Firm has received this rating. (View News Release.)

Lusk Named to AGN Executive Board, February 2016: Brad Lusk, Managing Partner of Sisterson & Co. LLP, was elected to a five-year term on the Executive Committee of AGN International – North America, Inc. (View News Release.)