Recent News

Maryland FAMLI (Paid Family & Medical Leave): Key Deadlines and Employer Next Steps

Maryland’s Family and Medical Leave Insurance program (FAMLI), a state-mandated paid leave program created to provide eligible workers with job-protected paid time off for major life and health events, is moving toward employer implementation. In general, employers with at least one Maryland-localized employee should be preparing to register and comply with the program. This includes employers located outside Maryland if they have employees whose work is localized in Maryland. The key question is typically where the employee works (and how their work is “localized”), not simply where the employee lives. For remote, hybrid, or multistate employees, the result can depend...

Important Pennsylvania Sales Tax Update for Philadelphia and Allegheny County

We want to make you aware of a recent Pennsylvania sales tax law change that may affect businesses selling taxable products or services to customers in Philadelphia and Allegheny counties. Background Under Act 21 of 2026, vendors that are already required to collect and remit Pennsylvania’s 6% state sales tax must also collect and remit the applicable local sales tax on taxable sales delivered to customers in these counties. This includes Philadelphia’s 2% local sales tax and Allegheny County’s 1% local sales tax. The law was enacted on July 12, 2026, and applies retroactively to tax years beginning after December...

IRS Increases Standard Federal Mileage rates for the Second Half of 2026

What You Need to Know and Do The new rate of 76 cents per mile is effective for all business miles driven for the period from July 1 - December 31, 2026. Miles driven during the first half of the year (January 1 – June 30, 2026) are subject to the original rate of 72.5 cents per mile. If your organization uses the IRS rate to calculate mileage reimbursement for business use of a personal vehicle, please update your systems and reimbursement policies to account for this change. Other Rates The IRS also updated the standard mileage rate for medical...

Important Update to QBO Payroll – Action Needed by June 30, 2026

We want to make you aware of an important change coming to QuickBooks Online (QBO) Payroll service, effective July 1, 2026. If you utilize QBO Payroll, please read carefully, as these changes will affect how your payroll taxes are paid and filed. What’s Changing? Automatic Payroll Tax Payments & Filings: Beginning July 1, 2026, QBO Payroll will require all payroll tax payments and filings to be automatic. Manual submission of payroll tax payments and filings will no longer be available, and the ability to turn off automated taxes will be removed from your payroll settings. Please reference the Payroll Section...

Why you might want to build a wall between your business and its real estate

Does your business own its real estate in a separate holding company, such as a limited liability company (LLC) or limited partnership? This practice can provide several advantages, including shielding property from your company’s creditors. It can also ease estate planning if, for example, you want to transfer business interests to your children while retaining ownership of the real estate. In addition, there are good tax reasons to separate the two. Let’s take a look. Asset protection and estate planning advantages Owning real estate in a separate legal entity can wall off an operating business from its real estate’s potential...

Selling your business? You might benefit from presale financial due diligence

If you’re contemplating a sale of your business, you probably know that any serious buyer will scrutinize your financial statements, operations, assets and legal agreements. Conducting your own due diligence now can smooth the buyer review process and ease deal negotiations. Working with financial and legal advisors, you’ll have the opportunity to fix any problems before your business goes on the market. Anticipate Buyer Scrutiny The primary goal of presale due diligence is to evaluate the quality and sustainability of earnings, identify risks, and normalize financial results before giving prospective buyers access to the company’s books. Financial advisors look for...