As Halloween creeps up tomorrow, we’re reminded that not all the ghouls and goblins lurk in haunted houses—some hide behind nonprofit status. These organizations “trick” donors with good intentions while failing to “treat” the communities they claim to serve. In earlier posts, we’ve shared ways to protect yourself from these fundraising frights—like understanding the differences
If you are a reader of our blog, you are familiar some of the high-profile tax breaks from the One, Big, Beautiful Bill Act (OBBBA) such as extensions of TCJA (Tax Cuts and Jobs Act) provisions, an expanded SALT (State And Local Taxes) deduction cap, and even new benefits for tips and overtime. However, one
On September 16, PIDC started the celebrations for the Hispanic Heritage Month partnering Greenline Access Capital and other entities, hosting Elevate and Connect, a resource night designed to celebrate, support, and empower Hispanic and Latino business owners across Philadelphia. As you might know, PIDC is Philadelphia’s public–private economic development corporation, founded in 1958 as a
In recent years, natural disasters have become more frequent and more severe—bringing not only emotional and physical challenges, but also financial and tax consequences. While recovery takes time, understanding the IRS rules for disaster relief and knowing how to respond financially can make a meaningful difference. From extended deadlines and potential deductions to making sure
Despite some expected changes like the planned shutdown of the Direct File pilot program, the IRS has currently some free options available and it is requesting feedback (see links at the bottom of this blog). Free File program This program is a public-private partnership between the IRS and several tax software companies that provide their
Since April 2025, there is ongoing uncertainty surrounding the agreement between ICE (Immigration and Customs Enforcement) and the IRS to share taxpayer information, particularly that of individuals filing with an ITIN. Under this new agreement, the ICE can request taxpayer information—including names, addresses, and tax years—from the IRS under the narrow confidentiality exception in Section 6103(i)(2).
There are many tax strategies that are overlooked levers for improving investment outcomes. Reviewing a client’s tax return isn't just a compliance exercise—it’s an opportunity to identify meaningful, actionable ways to reduce tax drag and improve long-term financial outcomes. When integrated with a thoughtful investment plan, tax planning becomes a powerful tool to grow and
Renouncing U.S. citizenship or giving up long-term residency is not only a personal milestone—it’s a complex financial event with major tax consequences. The U.S. exit tax, under IRC Sec. 877A, treats covered expatriates as if they’ve sold all their worldwide assets the day before expatriation, taxing unrealized gains. The rules apply to individuals who meet
If your child earns income from investments—like dividends, interest, or capital gains—you may need to consider how the kiddie tax could impact your family’s tax situation. Designed to prevent income shifting between generations, this rule applies when a child’s unearned income exceeds $2,600 for the 2025 tax year. While the first $1,300 is tax-free and
Deciding when to start receiving Social Security benefits is one of the most impactful choices you'll make in retirement planning—and 2025 brings new rules, tax considerations, and potential opportunities. While benefits can begin as early as age 62 or be delayed until age 70, the decision should reflect not only your financial needs but also
