Pennsylvania and New Jersey taxpayers are subject to a complex array of federal, state and local taxation with potentially serious ramifications for their business and personal finances.
Fitzpatrick Lentz & Bubba has the experience to assist taxpayers through a complex array of federal, state and local taxation issues. We review individual and business tax planning options and strategies and assist you in the implementation of those strategies. Our taxation team regularly provides guidance in identifying and reducing potential tax consequences in connection with the following:
Less than 100 days into President Biden’s presidential term, he has proposed a sweeping tax and spending policy. While this plan has yet to be debated or passed, it does give a good indication of what impact the plan may have on U.S. businesses and individuals. Corporate & Personal Tax Rates As a reminder, under […]
The American Rescue Plan Act of 2021 (the “ARP”) is the latest in Coronavirus relief legislation. On March 10, 2021, the House of Representatives passed the bill as amended by the Senate. President Biden signed the ARP into legislation on March 11. Below is a summary of the provisions that will have a direct impact […]
When the CARES Act was passed in March 2020, one area that remained uncertain was the tax treatment of the Paycheck Protection Program (PPP) loan forgiveness and whether it would be treated as taxable income to borrowers who had this debt discharged. The way this forgiveness would be handled potentially affected the millions of businesses […]