Professional Services
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Understanding Pennsylvania’s New Annual Reporting: Its Impact on Your Business and Preparations Needed
Effective Jan. 1, 2025, there’s a significant change in Pennsylvania’s reporting requirements for certain domestic and foreign business entities. The longstanding decennial report will be replaced by a new Annual Report. The entities that will need to comply with this new requirement include: The Annual Report is more than a formality. It necessitates the inclusion…
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RKL Recognized with Top Industry Client Satisfaction Honor
For the third consecutive year, RKL, a nationally leading CPA and advisory firm with an office in Exton, has earned the Best of Accounting Award for client satisfaction. The 2025 honor from B2B directory ClearlyRated is based on input and ratings received in the firm’s latest client survey. “For our team, there’s a lot of…
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Beneficial Ownership Reporting Is Back: What Does It Mean for Your Business?
It’s time to sharpen those pencils — Beneficial Ownership Information (BOI) Reporting is once again enforceable. Following a lifted injunction, FinCEN (Financial Crimes Enforcement Network) has set a new deadline of March 21, 2025 for most entities required to file. On Feb. 17, a Texas District Judge lifted their own injunction that was issued on January 23, coinciding…
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Kennett, New Garden Townships Mushroom Farms Under Quarantine Order Due to Phorid Flies
Pennsylvania Department of Agriculture recently issued a quarantine order for mushroom farms in Kennett and New Garden Townships due to phorid flies, writes Jeff Mulhollem for the Penn State News. The pest has been threatening southeastern Pennsylvania’s mushroom industry, which produces 60 percent of the nation’s mushrooms, by destroying nearly 40 percent of crops and…
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L. Brent Kolb Named Managing Director of DunlapSLK
DunlapSLK, the Chalfont-based certified public accounting and advisory firm, has named L. Brent Kolb its new Managing Director. Kolb succeeds Dennis Dunlap, who will continue in his role as one of the firm’s shareholders. Dunlap’s focus will be on serving clients while also maintaining his position as a member of the firm’s governing Board of…
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What Does Your Financial Institution Need to Know About Your Company’s Ownership in 2025?
Yes, the requirement to register an entity’s Beneficial Ownership Information (BOI) with the U.S. Government agency, Financial Crime Enforcement Network (FINCEN), is being bounced around in the court system. While there is a lot of uncertainty with the new administration, it’s essential to establish what has not changed and most likely will not change related…
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Riding Impressive Wave of Growth, MyOfficeOps Expands Services and Launches New Website
MyOfficeOps, a leading outsourced accounting and back-office solutions provider, is riding an impressive wave of growth and expanding its service offerings, increasing headcount, and launching a revamped website to better serve its growing client base. The West Chester-based company saw a 35 percent growth in revenue in 2024, fueled by a rising demand for its…
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Federal Disaster Tax Relief: New Opportunities for Taxpayers
On Dec. 12, 2024, then-President Joe Biden signed the Federal Disaster Tax Relief Act of 2023 into law, introducing significant tax relief measures for individuals and families impacted by disasters. This long-anticipated legislation provides a variety of benefits, including expanded deductions and exclusions from gross income for qualified disaster-related expenses. Below, we outline the key…
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Navigating Change in 2025: Key Tax Reforms Expected
The stage is set for 2025 to be a year we should expect to see a significant legislative tax package. Not only is the Republican party poised to take the helm of both Congress and the Presidency, but many key tax provisions in 2017’s Tax Cuts and Jobs Act are set to expire at the end…
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Continued Uncertainty with Beneficial Ownership Reporting
The courts continue to battle over the constitutionality of the Beneficial Ownership Information (BOI) Reporting included in the Corporate Transparency Act that was poised to go into effect on Jan. 1, 2025. This regulation requires approximately 32.6 million businesses to file with the Financial Crimes Enforcement Network arm of the U.S. Treasury to disclose substantial…
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West Chester Woman Selected to Decorate the White House This Holiday Season
A West Chester mother and business owner was given the chance of a lifetime when she was asked to decorate the White House for Christmas, writes Ben Silver for Main Line Today. Nicole Radio owns Maggie’s Market Shop, a small business that sells handmade jewelry, hosts charity events, and helps create employment opportunities for those…
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Federal Court Blocks Enforcement of BOI Reporting Under the Corporate Transparency Act
A Texas Federal Court granted a nationwide preliminary injunction against the Corporate Transparency Act (CTA) scheduled to become effective on Jan. 1, 2025. The court cited potential constitutional issues with the CTA’s Beneficial Ownership Reporting requirements and acknowledged there was sufficient injury to warrant this preliminary injunction. In the absence of this injunction or an applicable exemption,…
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RKL Named One of the Best Places to Work in PA for Eighth Consecutive Year
RKL has been named one of the Best Places to Work in Pennsylvania for an eighth consecutive year. This prestigious distinction highlights the firm’s commitment to excellence in workplace culture for its team of more than 650 talented professionals. At RKL, a diverse array of experts — including auditors, financial advisors, consultants, cybersecurity leaders, digital…
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Navigating Cybersecurity: Understanding U.S. Data Protection Legislation and International Implications
In the digital age, effective cybersecurity is synonymous with business resilience. As cyber threats escalate, companies must stay ahead of the curve with up-to-date knowledge of data protection regulations. This post will provide an in-depth analysis of the latest U.S. government and FBI cyber threat warnings, an overview of the American legislative framework, a comparison…
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West Chester-Based A. Duie Pyle Nearing $1 Billion Revenue Mark
Family-owned A. Duie Pyle, based in West Chester, is approaching the $1 billion revenue mark, a century after it first began operations in Coatesville, writes Lisa Dukart for the Philadelphia Business Journal. The company, one of the longest-enduring trucking companies in the Northeast, has around 4,300 employees and 4.5 million square feet of warehousing space.…
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Unveiling the Blueprint for Business Franchise Growth
In today’s dynamic landscape of economic opportunity, franchising stands out as a unique pathway to success for aspiring business owners. With a strong strategic plan and experienced advisors, business franchise growth is within reach. The perceived safety of established brand recognition and proven business models that franchising offers can be seen as an attractive and…
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DunlapSLK Supports Local Nonprofit That Provides Backpacks Filled with Food to Students in Need
As part of its ongoing commitment to giving back to the community, DunlapSLK — the Chalfont-based CPA and business consulting firm — recently held a drive to help support The Bean Bag Food Program. The Bean Bag Food Program is a local nonprofit that partners with schools in the Souderton, Quakertown, and North Penn school…
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Considering an HRIS and Payroll Platform Upgrade for 2025? Here Are 5 Steps to Finding the Right Solution
In the digital age, businesses continually seek software solutions that streamline their human resources and payroll processes. The right HRIS and payroll software can drastically improve efficiency, data security, and compliance, but with a myriad of options available, it’s crucial to choose a system that aligns with your company’s specific needs. At RKL Virtual, we…
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