Client Alerts

At Mette, Evans & Woodside we strive to provide information and our helpful interpretations of the latest issues and news that may impact our clients. Our most recent Client Alerts shown below.

Click on the blue headlines to read the entire article.

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New IRS Carry-Over Basis Rules

Until the start of 2010, thanks to step-up basis rules, it was possible to avoid capital gains tax on property owned by a decedent's estate. However, effective January 1, 2010, the step-up basis was terminated and replaced by carry-over basis rules which impact estate tax liability.

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Pennsylvania Property Tax Appeal Deadlines Looming

The deadline for appealing real estate property tax assessments is fast approaching. Most counties in Pennsylvania have established August 1 or September 1 deadlines.

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Contractor Guidelines

The Pennsylvania Home Improvement Consumer Protection Act, which took effect on July 1, 2009, is designed to protect homeowners from unscrupulous contractors and to establish penalties against contractors who violate the Act. A year later, some legitimate contractors still do not know the requirements of the Act or whether they are violating the Act in the way they do business.

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The 2010-11 Estate Tax Debacle

Mette, Evans & Woodside takes pride in keeping its clients aware of any significant changes in the law that may impact their affairs. In this regard, we wanted to share with you news of the unanticipated repeal of the federal estate tax at the end of 2009 which has caused quite a stir. In fact, there are many people who have called it a "debacle."

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Governor Rendell's 2010-2011 PA Budget Tax Proposals

The February 9, 2010 Executive Budget presented by Governor Rendell includes significant tax proposals including a broader sales tax and heavier business taxes. The Governor's proposed 2010-2011 Budget would broaden the state sales tax while lowering the rate from 6% to 4%. Proposed changes to the state sales tax would expand the sales tax to a number of goods and services that are currently exempted.

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Pennsylvania 2010 Tax Amnesty Program

Beginning on April 26, 2010 and ending on June 18, 2010, all taxes owed to the Commonwealth administered by the Department of Revenue are eligible for Amnesty. To participate, a taxpayer will be required to file an on-line Amnesty Return, file all delinquent tax returns, and make the required payment within the Amnesty Period.

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2010 SEC Disclosure Changes

The Securities and Exchange Commission ("SEC") recently adopted final rules that require registrants to make new or revised disclosures in their proxy statements concerning compensation, stock options, and director qualifications along with other matters.

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Electric Power Choices

The new Pennsylvania law, providing for electric power choice, goes into effect January 1, 2010. Choosing an electric supplier can be confusing. Be sure that before you sign any contract for electric service that you have it reviewed by legal counsel.

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PA Home Improvement Consumer Protection Act

The new Act requires home-improvement contractors to register with the state and include standard information and terms in their contracts.

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Cobra Subsidy Under The Stimulus Package

Are you an employer of over 20 employees? If you are and if you provide health insurance for employees, effective March 1, 2009, you can only charge involuntarily terminated employees who elect COBRA 35% of the premium.

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American Recovery and Reinvestment Act of 2009

On Friday, February 13, 2009, the House of Representatives and Senate approved the conference report for the American Recovery and Reinvestment Act of 2009.

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Emergency Economic Stabilization Act of 2008

On Oct. 3, 2008, President Bush signed into law the Emergency Economic Stabilization Act of 2008.