Tax Warrior Chronicles

HAPPY MOTHERS' DAY - Advice to New Moms on Returning to Work

Posted on Thu, May 09, 2019

DottieBy: Dottie Leonardi

 

At Drucker & Scaccetti, our 100-person tax advisory and consulting firm is having a mini baby boom.  Our ranks include three new moms, two expectant moms and one returning mom, plus two expectant dads. 

 

We are developing a new parent coaching group to help navigate the return to work for our new parents and are discussing how best to provide this.  Who will be the coaches; recent new parents or experienced ... Read More

How Social Media Influencers Are Taxed In the U.S.

Posted on Tue, Apr 30, 2019

tax-warriors_v2By: Ted Nebiolo

 

Social Media is a normal and constant part of our lives. In 2019, there will be 2.77 billion social media users; that’s slightly more than one in three people on the planet!* For some social media users, with a large following and with high engagement of those followers, this means big business and potential income. Companies are using social media to market their products to an influencer’s universe of followers. In today’s blog, ... Read More

The QOZ Wait Is Over (For the Most Part)

Posted on Fri, Apr 26, 2019

Steven-R-RossmanBy: Steven R. Rossman, CPA, MST

 

Since its initial appearance as a meager six pages of the Tax Cuts and Jobs Act of 2017, the IRS has released two sets of proposed regulations with almost 250 pages of guidance about Qualified Opportunity Zones (QOZ) and Qualified Opportunity Funds (QOF).  The most recent set of proposed regulations, released April 17, 2019, provide much-needed guidance and clarity that taxpayers and their advisors sought. ... Read More

VIDEO - Tax Day is Coming!

Posted on Wed, Apr 10, 2019

20190111_145931 (2)In our Center City Philadelphia headquarters, we proudly and prominently display our Tax Warrior Mantra. The words (written by the late Reese Palley) and images (illustrated by the late Tony Auth) were created specifically for The Tax Warriors® at Drucker & Scaccetti.  The Mantra captures the spirit of our firm and its quest to always be ... Read More

The Fairness of Taxes from the Perspective of Children

Posted on Mon, Apr 08, 2019

MIghtyWritersPhillyI’m privileged to work with many talented tax professionals—some are the best minds in tax. Our advisors tackle complex planning for many of the wealthiest families in America. Graduate degrees and credentials acquired over years of practice include CPA, MT, JD, LLM, PFS, CFP, and MBA. However, when we asked children at Philadelphia’s Mighty Writers to give us their interpretations of taxes, their answers reflected a surprisingly good understanding of the subject, despite their lack of financial or legal education.  Before we give you ... Read More

How to Host Tax Deductible Parties Benefitting Charitable Organizations

Posted on Thu, Apr 04, 2019

DSMarketing022-1By: Rosalind W. Sutch, CPA, MT

 

Passionately supporting a charitable organization can be personally rewarding.  How you provide the support can be as simple as writing a check or as complex as throwing a charitable event in your home.  The former is easy to document and track for tax purposes, the latter is a bit more involved, but can have a significant impact for the charity benefactor.  Keep reading for the dos and don’ts of how ... Read More

5 Fixes to Combat Identity Theft

Posted on Tue, Apr 02, 2019

Price2By:  Keisha Price, CPA, MST

 

You could drop your social security card while guzzling a Hurricane down crowded Bourbon Street. Your daughter could buy those cool light up shoes from the sketchy website on Instagram. Your old AOL email account could be hacked. Identity theft seems to always be one wrong step or click away. Luckily The Tax Warriors® at Drucker & Scaccetti have created the “Flash Five Fixes to Identity Theft.”

 

... Read More

Major Changes to Estate Plans? Consider a Letter of Competency

Posted on Tue, Mar 26, 2019

Sorbello1Changes to wills can result in messy litigation when an heir is unhappy with the change.  Dementia and other health issues that affect one’s mental capacity can be devastating and can complicate estate administration.  An heir may claim that the decedent was not mentally competent when the change was made.  This is particularly common when an heir is removed from a will entirely or if there has been a change in medical power of attorney.  However, there are steps you can take to mitigate these challenges.

 

... Read More

Lights, Camera, Action! Regional Film Tax Credits

Posted on Thu, Mar 21, 2019

CLARE PORRECA - OFFICIAL - 2016By: Clare Porreca, CPA, MT

 

What brings more celebrities to the Philadelphia area than Ben Simmons?  That’s right – film tax credits! New Jersey and Pennsylvania are battling for their piece of the billion-dollar film industry. Here’s what each has to offer.

 

Both PA & NJ (along with most other states) have enacted film tax incentive programs to expand the film ... Read More

The Tax-Savvy Bryce Harper Deal

Posted on Mon, Mar 18, 2019

HarperTwitterBy: Zach Hizer

 

As the world now knows, Bryce Harper is a Philadelphia Phillie. The former MVP and six-time All-Star agreed on a 13 year, $330M deal – the richest contract in Major League Baseball (MLB) history. Other offers came from the San Francisco Giants and Los Angeles Dodgers, both of which hail from California, land of the 13.3% state income tax. In today’s blog, you’ll see the differences the PA and CA tax rates create, and how many millions ... Read More