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05.27.2021

Amounts Paid for PPE May Be Deductible

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Amounts Paid for PPE May Be Deductible Amounts paid for personal protective equipment, such as masks, hand sanitizer, and sanitizing wipes, for the primary purpose of preventing the spread of the Coronavirus Disease 2019 (COVID-19 PPE) are treated as amounts paid for medical care under § 213(d) of the Internal Revenue Code (Code). Therefore, amounts paid by an individual taxpayer for COVID-19 PPE for use …
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05.27.2021

Teachers May Deduct Covid-19 Personal Protective Expenses

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The IRS recently issued a revenue procedure (Rev. Proc. 2021-15) which allows certain school teachers to deduct expenses paid or incurred for personal protective equipment, disinfectant, and other supplies (COVID-19 Protective Items). Eligible educators may treat unreimbursed expenses paid or incurred after March 12, 2020, for COVID-19 Protective Items used for the prevention of the spread of COVID–19 in the classroom, as expenses that are …
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03.30.2021

What is a Decennial Report?

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The Pennsylvania decennial report’s purpose is to report an entity’s continued existence, filed every 10 years on years ending with “1” (i.e., 2011, 2021, etc.). Entities that were formed before January 1, 2021 must file a decennial report in PA to show they continue to exist. Many other states require an annual report with filing fees; the Pennsylvania decennial report has a filing fee of $70, payable …
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03.24.2021

Pennsylvania Powers of Attorney

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Under Pennsylvania law certain powers must be included in a Power of Attorney document in order for the agent to actually exercise such powers.  That is, these so called “hot powers” are not available to an agent, unless specifically given or provided to him or her in the document. These powers include: The right to make gifts; The right to create, amend, revoke, or terminate …
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03.24.2021

FINRA Rule 3241 – Prevent Exploitation of Senior Investors

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Recently, the Financial Industry Regulatory Authority (FINRA) issued a new regulation to protect senior investors from unscrupulous financial advisors and brokers. FINRA Rule 3241 limits the ability of a broker-dealer to be named as a beneficiary, executor, trustee, or power of attorney for one of his/her customers. Broker-dealers must provide written notice to their firm, and the firm must assess the situation and determine whether to approve …
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03.24.2021

What are the Warning Signs of Dementia?

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Dementia is one of the most devastating conditions affecting seniors, resulting in an eventual loss of cognitive functions. While there is no cure for dementia or the two leading diseases that cause dementia, Alzheimer’s and Lewy body dementia, there are treatments that can slow the effects and help make life more manageable. In order for these treatments to be effective, dementia must be caught early. …
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03.24.2021

Military Tax Return Resources

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The IRS has a variety of military tax return resources to help members of the military, veterans and their families navigate the unique and sometimes complex circumstances that come with filing taxes while in the military.
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03.02.2021

How to Calculate Child Support in PA

In Pennsylvania, child support paid by one parent to the other parent is calculated using the “income shares” model so that each parent’s share of the basic support obligation is proportional to his or her monthly net income. The amount of support will generally be based upon the parents’ combined monthly net incomes and the number of children being supported.  Pennsylvania has adopted a chart showing the presumed …
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02.25.2021

Grounds for Full Custody of Child

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When parents are separating, it is common to hear one or both of the parents addressing grounds for full custody of the child.  If this sounds like something you have said, know that it is important to clarify what it is you are seeking. Are you seeking the right to make all decisions regarding your child, without input from the other parent? Are you seeking …
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02.18.2021

Who Keeps the House in a Divorce?

A brown house with an attached garage and yard in the front
Often, the largest asset a couple has is the house that they live in together.  If your house was purchased during the marriage, then it is considered a marital asset which must be divided if you and your spouse get divorced.  This is true regardless of whether both of your names, or just one of your names, are on the deed. If there is a …
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