Blog Articles and Events

Category: Recent News & Updates

Manufacturers & Distributors Lease Accounting Standards Considerations

By William Godfrey on September 28, 2022
New Lease Accounting Standards Create Challenges Privately-owned companies reporting under Generally Accepted Accounting Principles (“US GAAP” commonly requested by banks) are required to adopt the new lease standard effectively January 1, 2022.  This can create some significant challenges as owners, bankers, controllers, and other financial statement users are now expecting to see Right of Use […]
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Inflation Reductions Act - A Few Key Provision Considerations

By Jessica Moslander on September 14, 2022
Inflation Reduction Act (IRA) creates 2 new taxes and extends an existing loss limitation provision On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into new law. The law is what is left of President Biden’s Build Back Better Plan.  In addition to creating 2 new taxes and extending an existing loss […]
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Energy-Efficient Home Improvement Credit

By Jessica Moslander on August 30, 2022
Inflation Reduction Act (IRA)  and Combating Climate Change On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law. The new bill marks the largest investment in combating climate change in U.S. history. While the legislation primarily helps businesses adopt eco-friendly and clean energy measures, for individual consumers, the IRA has extended […]
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Employee Retention Credit Opportunity

By Trisha Schum on May 13, 2022
The Employee Retention Credit (ERC) was originally enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act – and further extended through the Infrastructure Investment and Jobs Act – to provide relief to employers that were negatively impacted by COVID-19 through the loss of gross revenue or through full or partial suspension of operations […]
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Electronic Payment of Tax Due and Quarterly Estimates AND Electronic Filing of Local Tax Returns

By Trisha Schum on May 11, 2022
Over the past few years, we’ve seen a sharp increase in the number of “mailed” tax payments not being received, processed and/or recorded by the taxing agencies. Holsinger strongly encourages our clients to establish online accounts with the IRS, PA Department of Revenue and your local taxing agency. Once established, you will be able to […]
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