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ASC Topic 718, Compensation-Stock Compensation directs accounting for share-based compensation awards such as share-option awards, which are classified as either liabilities or equity. Equity-classified awards are initially measured at fair
CHIPS and Science Act of 2022 On July 28, 2022, the U.S. Congress passed the Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act of 2022. This legislation is
The Pennsylvania Department of Revenue (DOR) instituted a new rule for 2022 – all tax payments $15,000+ must be made online. This new process may be confusing for some taxpayers.
On July 8, 2022, Pennsylvania Governor Tom Wolf signed the Commonwealth’s $45.2 billion 2022-23 budget, which includes record investments in education and community safety as well as a significant tax
For most individuals, the deadline for filing Form 1040, U.S. Individual Income Tax Return, is April 15th. Taxpayers who are unable to meet this date can request an extension to
As we are in the peak of wedding season, it’s a good time to discuss the tax filing options for married taxpayers. While planning for a wedding, couples have a
Marne W. Babich, was recognized by the Pennsylvania Institute of Certified Public Accountants (PICPA), being named as one of the organization’s 2022 Women to Watch. Four female CPAs from across
Starting on July 1, 2022, the standard mileage rate for business use vehicles will increase by four cents per mile (from 58.5¢ to 62.5¢ per mile) for the last six
Three GYF professionals were recently promoted: Jim O’Mara rose to Senior Manager in the ERP Solutions Group; Emily Miller was named as a Manager in the A&A Services Group; and
As my internship at GYF is quickly coming to an end, I wanted to reflect on my time at this firm. From start to finish, the people at GYF have
Jeffrey A. Ford, one of GYF’s founding partners, was recently recognized for his many years of service to the nonprofit community. The NACD Three Rivers Chapter honored Ford for his
After nearly 20 years of maintaining the second-highest corporate net income tax (CNIT) rate in the United States, Pennsylvania seems poised to reduce that rate from 9.99% to 8.99% beginning
