PKF North America News

In a family where attending college was unprecedented, Daniel’s journey from high school graduate to aspiring CPA is inspiring. His story shows the importance of guidance, perseverance, and the power of education. Early Influences Family traditions and expectations often play a significant role in the decision to attend college. For Daniel, however, the journey was … Continued The post Breaking Barriers: Daniel’s Journey from First-Generation College Grad to Aspiring CPA first appeared on JLK Rosenberger.

Reading time: 2 minutes 30 seconds On April 23rd, the Department of Labor (DOL) issued a new Retirement Security Rule defining who will be considered an active fiduciary under the Employment Income Security Retirement Act (ERISA). The change was necessary because existing rules originally published in 1975 (before 401k plans existed) were no longer serving to … Continued The post DOL Issues New Retirement Security Rule first appeared on JLK Rosenberger.

Reading time: 3 minutes 30 seconds Representations and warranties play a crucial role in business transactions and are commonly used in merger and acquisition agreements to allocate risk between sellers and buyers. Accurate representations and reliable warranties are essential for maintaining trust and ensuring fair business transactions. Let’s break down what they mean: Representations Representations are statements … Continued The post Representations and Warranties Play a Crucial Role in Business Transactions first appeared on JLK Rosenberger.

Reading Time: 3 minutes When buying diesel fuel at a gas station, part of the price is a federal highway use tax of 24.4 cents per gallon. However, if the diesel is purchased to fill construction equipment such as front loaders and road graders used exclusively off highways, a contractor can claim a tax credit … Continued The post Refunds Available for Qualifying Diesel Purchases Going Back Three Years first appeared on JLK Rosenberger.

Presidential candidates typically formulate their tax plans in bits and pieces throughout the long campaign season, with the proposals coalescing into a comprehensive plan sometime in the early fall before the general election. So far in 2024, frontrunners President Joe Biden (D) and Donald Trump (R) have publicly discussed several tax proposals they hope to … Continued The post 2024 Presidential Tax Plans Reveal Vastly Different Priorities Between the Frontrunners first appeared on JLK Rosenberger.

Reading Time: 3 minutes 15 seconds Required Minimum Distributions (RMDs) are essential in retirement planning, mandating that retirees withdraw and utilize savings from tax-advantaged accounts like IRAs and 401(k)s throughout retirement years. Recently, IRS Notice 2024-35 has introduced significant adjustments to these distributions, focusing on beneficiaries who manage inherited retirement accounts. The notice also announces … Continued The post IRS Extends Relief for Required Minimum Distributions first appeared on JLK Rosenberger.