Health Savings Account Limits for 2018 (5/10/17): The IRS has announced the inflation-adjusted amounts that individuals and families can contribute to Health Savings Accounts (HSAs) in 2018. (Read more.)

DOL Delays Fiduciary Rule until June 9, 2017 (4/7/17): This week, the Department of Labor (DOL) delayed by 60 days its final regulation, published on April 8, 2016, defining who is a "fiduciary" under ERISA and the IRC. Also delayed are the applicability dates for the Best Interest Contract Exemption and the Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs (PTEs). With this ruling, the initial applicability date is now delayed from April 10, 2017, to June 9, 2017. This delay is in response to President Donald Trump's February memorandum directing the DOL to examine the rule to make sure it does not adversely affect the ability of Americans to gain access to retirement information and financial advice. The extension is necessary to enable the DOL to perform this examination and to consider possible changes with respect to the Fiduciary Rule and PTEs. In the meantime, employers and fiduciaries are directed to follow "best interest" standards during the transition period.

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 Changing (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.)

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.)


Strategies: April 2017
  • Sisterson Welcomes AGN International
  • FASB Reduces Disclosure Requirements for Certain Investments
  • Train Employees to Avoid Cybercrime
  • Employee Benefit Plan Audit Requirements
  • Client Spotlight: Pittsburgh Promise
  • Sisterson Happenings: Spring 2017

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

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Press Releases

Habsburg Promoted to Tax Manager, June 2017: Carissa Habsburg has been promoted to Tax Manager effective June 1, 2017. Ms. Habsburg's experience includes tax return compliance and planning for corporations, partnerships, and individuals. (View News Release.)

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.)