Pennsylvania department of Revenue delays Implementation Of New Non-Employee Withholding requirements until July 1, 2018.

Published on February 28, 2018.

Pennsylvania  department of Revenue delays Implementation Of New Non-Employee Withholding requirements until July 1, 2018.  The DOR will not assess unwithheld taxes against any business that fails to withhold PIT from business payments to Nonresident individuals made prior to  July 1, 2018. However, any tax that has been withheld must be remitted  to the DOR as required by law.  

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Important Changes in Pennsylvania Tax Laws Effective January 1, 2018

Published on January 3, 2018.

Pennsylvania Personal Income Tax Withholding on Non-Employee Compensation/Lease Payments   Effective January 1, 2018, any Pennsylvania business entity or individual paying an outside contractor or making lease payments (including real estate rentals) to a non-resident individual or a single member LLC (non-resident) is now required to withhold 3.07% from the gross payment. Withholding is optional for payors paying less than

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Payroll Tax Update for 2018

Published on January 2, 2018.

January 2018 We wish all of our friends a Happy and Healthy New Year! This letter contains important payroll tax related information that you may need for 2017 and 2018. As always, please contact us if you have any questions.   TOPIC IMPORTANT WEBSITES. DUE DATES FOR ALL 2017 TAX RETURNS. AUTOMOBILE MILEAGE RATES. FLEXIBLE SPENDING ACCOUNT CHANGES. SOCIAL SECURITY.

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New Jersey Tax Exemption for Veterans

Published on December 18, 2017.

For the tax years beginning on or after January 1, 2017, taxpayers may be eligible for a $3,000 exemption on their New Jersey income tax return. An eligible taxpayer must be a military veteran who was honorably discharged or released under honorable circumstances from active duty in the Armed Forces of the United States by the last day of the

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New Medicare Cards Are Coming

Published on December 4, 2017.

The Social Security Number Removal Initiative (SSNRI) We’re removing Social Security Numbers from Medicare cards to prevent fraud, fight identity theft, and keep taxpayer dollars safe. Learn more about how we’re protecting the identities of people with Medicare and helping you put patients first.   CMS Reveals New Medicare Card Design Removing Social Security numbers strengthens fraud protections for about

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RETIREMENT PLAN BENEFITS AND LIMITS FOR 2018

Published on October 27, 2017.

RETIREMENT PLAN BENEFITS AND LIMITS Type 2017 2018 Traditional and Roth IRA contribution $5,500 $5,500 Traditional and Roth IRA catch-up contribution $1,000 $1,000 SIMPLE IRA and SIMPLE 401(k) salary deferral $12,500 $12,500 SIMPLE IRA and SIMPLE 401(k) catch-up contribution (50 years old & above) $3,000 $3,000 401(k), 403(b), 457(b), and SARSEP salary deferral contribution $18,000 $18,500 401(k), 403(b), 457(b), and

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Tax Reform Framework

Published on October 5, 2017.

Republican lawmakers released a framework for tax reform on September 27, announcing that their goals are to cut tax rates, simplify the Internal Revenue Code, and to provide a more competitive environment for business. The framework generally reiterates proposals made by President Donald Trump in April.  Our intent here is to simply provide you with an objective overview of these

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Gold Gerstein Group Hosts International Conference

Published on June 14, 2017.

Gold Gerstein Group LLC was proud to host Integra International’s Annual May Conference at the Sheraton Society Hill Philadelphia from May 18, 2017 through May 20, 2017.   The annual conference was held for member firms from around the world.  Topics included Cyber Security, International Tax, International Trade Issues, Evolving Issues Affecting the Accounting Industry and the new Lease Accounting Regulations

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2017 Payroll and Tax Update

Published on December 30, 2016.

January 2017 We wish all of our friends a Happy and Healthy New Year! This letter contains important tax related information that you may need for 2016 and 2017. As always, please contact us if you have any questions.                                                                                                                                                                          IMPORTANT WEBSITES. ESTIMATED TAXES FOR INDIVIDUALS. INDIVIDUAL INCOME TAX RATES. Federal Individual Rates. 2016 Capital Gain, Dividend, and Qualified Five-year

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Christie reverses course on ending Pa. reciprocal tax agreement

Published on November 29, 2016.

On Tuesday November 22nd, Governor Chris Christie formally announced that he is not going to rescind the 40 year old Reciprocal Agreement between Pennsylvania and New Jersey. Governor Christie signed a new bill that will save New Jersey taxpayers over 200 million dollars. If the termination of the Reciprocal Agreement had gone through, many taxpayers working on the other side

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