News and Events

The market continues to perform well, making this the perfect time to prepare for the eventuality of a downturn. The good news is that recoveries last far longer than the preceding downturns. Continue reading to learn more.

We are always happy to be of service. Call us at 215-723-4881 with any questions you may have.

The weather forecast for the stock market continues to be mostly sunny, but how long can this rally continue? We have the details you need.

If you have questions or would like to discuss your portfolio, we are happy to help. Call us at 215-723-4881.

When you hear “check washing,” it probably reminds you of that time you forgot to check everyone’s pockets before doing laundry. But the term refers to a criminal act that is on the rise throughout the United States. This fraudulent activity involves altering a written check by erasing its details — such as the recipient’s name or the check amount — and rewriting them to benefit the criminal.

The Check Washing Process

The process is alarmingly simple. Once the thief has the check, they use chemicals or heat to erase the existing information without damaging the paper. Then they write in new details to their benefit.

Preventing Check Washing

There are several ways to protect yourself from becoming a victim of check washing:

• Use pens with pigment-based ink. These inks are resistant to most chemicals used in check washing.
• Always keep your checks in a secure place. If mailing checks, use a tamper-evident envelope. For an additional layer of safety, walk the check into the post office instead of using the outdoor mailboxes.
• Where possible, switch to electronic transactions to avoid using physical checks.

What to Do If You’re a Victim

If you think you’ve been targeted by check washing, here’s what to do:

• Contact your bank to stop payment on the suspected check immediately.
• Notify your local law enforcement and the Federal Trade Commission about the issue.
• Monitor your accounts and bank statements for any unauthorized transactions.

Taking a few simple preventive measures will go a long way in protecting yourself against check washing.

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Accounting. Payroll. Technologies. Wealth Management. We’re here to help. Call us at 215-723-4881 or contact us online.

The Fed has hit pause on another interest rate hike, at least for now. We are monitoring their activity closely and will keep you updated. In the meantime, here are more details about the current landscape.

So far in 2023 we have experienced a series of interest rate increases from the Fed and a tightening of the labor market. Continue reading for a more detailed update.

This year brings another decrease in the Philadelphia City Wage Tax. Effective July 1, 2023, employers must withhold wage tax at the new rate of 3.75% from all paychecks issued to Philadelphia residents. The wage tax for non-residents of Philadelphia will remain at 3.44%.

This change must be in place for all paychecks dated after June 30, 2023.

Questions? We’re happy to help. Give us a call at 215-723-4881.

Are you a self-motivated leader and experienced accountant looking for a new opportunity?

Do you desire more freedom in managing your own schedule and client base while utilizing various service offerings and a team of experienced staff?

If so, our open position for a Tax Preparer/Accountant might be the next career step for you. Learn more and apply.

Updated IRS Filing Regulations

If your business regularly files paper returns, you will want to pay attention to this update. Effective January 1, 2024, the threshold of the number of paper returns the IRS will accept from one business entity has been reduced from 250 to 10 returns in a calendar year. For example, if your business files ten or more of any type of return — such as W2s or 1099s — by paper within a calendar year, you will be required to file them electronically. Learn more.

Spring Cleaning for Your 401(k)?

You may have noticed recent market fluctuations – both positive and negative – but have you considered how these changes impact your asset mix? Employer-sponsored retirement plans (401(k), 403(b), etc.) offer plan-specific investment options. We suggest a full account rebalance at least once per quarter. Taking this step will ensure that you are still holding your desired allocation – like if your 80% equity exposure slipped down to 75% — allowing you to sell investments with increased value and buy what is low. If you need help determining the right asset allocation for your situation, our team of Investment Advisors is ready to help.

AI-generated Content: Convenient but Lacking

AI (artificial intelligence) tools can be timesavers, but you must be on guard when using them. AI tools often generate incorrect or plagiarized content, so it always needs to be reviewed by a person. People relate to people best, so even better – stick with having human team members create your content.

One source, many services, the right decision.

Our team of professionals is here to help. Call 215-723-4881 or contact us online to get started.