Below please find daily updates pertaining to the latest in financial, business, and tax news:
With the trade deadline approaching, the Pittsburgh Penguins made a move on Wednesday — although not one that would help them on the ice. Instead, they announced a new deputy general counsel and director of human resources: Tracey McCants Lewis. She will join the team after holding the position of HR director with Peoples Gas Company, according to a press release. “Tracey is a skilled and w...Wed, Feb 20, 2019
Fin-tech startup Honeycomb Credit looks to help small businesses get off the ground. ...Wed, Feb 20, 2019
Since an airport is one of the most recognizable parts of a city, the new landside terminal will be uniquely Pittsburgh and southwestern Pennsylvania. ...Wed, Feb 20, 2019
Diamond Kinetics creates smart baseballs, softballs and bats. ...Wed, Feb 20, 2019
The 20-year partnership between GNC and Rite Aid will continue for at least three more years, according to a press release from the companies on Tuesday. The Pittsburgh-based health and wellness company GNC (NYSE:GNC) will continue to operate stores within Rite Aids through 2022, continuing a partnership that has been in place since 1998. There are approximately 2,200 GNC store-within-a-store ...Wed, Feb 20, 2019
Wabtec Corp. (NYSE: WAB), which is set to close on a merger with GE Transportation (NYSE: GE) on Feb. 25, is seeking “massive concessions” in pending agreements with the United Electrical, Radio, and Machine Workers of America, according to a news release from the union Wednesday. The move could impact operations at the Erie Locomotive Plant, one of the division’s most profitable facilities. ...Wed, Feb 20, 2019
Strip District-based Voci Technologies announced the appointment of some new faces across many of its top leadership roles Wednesday, according to a news release from the speech analytics platform company. Michael Coney assumed the role of CEO. Coney’s industry experience includes a position as CEO of Unitrends and director roles at VERITAS Software, Sun Microsystems, Monster.com, and, most r...Wed, Feb 20, 2019
It will be Pittsburgh International Airport's terminal of the future. The Allegheny County Airport Authority took the wraps off the design concept for the approximately $1.1 billion terminal project, which was approved Wednesday afternoon by a vote of the board. The terminal, which has been in the works for more than a year, will sit next to the current airside terminal and open in 2023. The ...Wed, Feb 20, 2019
Cranberry Township leaders and developers look forward to opportunity to diversify economy as a smaller Westinghouse looks for tenants to take portions of its headquarters space. ...Wed, Feb 20, 2019
Julie Fallon Hughes of Northwest Bank, a panelist for the Feb. 28 Corridors of Opportunity focused on Butler County, provides insights on the region's growth. ...
On February 6, 2019, the Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) that would ease transition to the credit losses standard by providing the option to measure certain types of assets at fair value. ...Mon, Jan 14, 2019
Mexican President Andres Manuel Lopez Obrador has signed a decree providing for tax cuts in the Mexican states bordering the United States....Fri, Dec 21, 2018
On December 13, 2018, the United States Internal Revenue Service issued proposed regulations on the operation of the base erosion and anti-abuse tax, contained in Section 59A of the Internal Revenue Code. ...Fri, Dec 07, 2018
Last year, the tax burden in OECD countries reached its highest level recorded, at 34.2 percent of gross domestic product, up 20 basis points on 2016, largely due to increasing taxes on personal consumption and companies. ...Fri, Nov 23, 2018
Releasing a progress update, the OECD said international efforts to curb harmful tax practices and prevent the misuse of preferential tax regimes are having a tangible impact worldwide....Fri, Nov 02, 2018
The Financial Accounting Standards Board (FASB) on October 31 issued Accounting Standards Update 2018-17, intended to reduce the cost and complexity of financial reporting associated with consolidation of variable interest entities (VIEs), for which consolidation is not based on a majority of voting rights....Mon, Oct 29, 2018
Estonia has topped the Tax Foundation's International Tax Competitiveness Index for the fifth successive year, being deemed to have the "best tax code in the OECD."...Mon, Oct 29, 2018
The Association of International Certified Professional Accountants has issued a policy paper calling for a multilateral approach to solving the tax challenges posed by the digital economy. ...Fri, Oct 12, 2018
On October 10, 2018, the United States Treasury Department and the Internal Revenue Service published a Notice of Proposed Rulemaking in the Federal Register notifying taxpayers of the availability of additional guidance regarding the transition tax under Section 965....Mon, Jul 16, 2018
The American Institute of CPAs has urged the Internal Revenue Service and the US Treasury Department to simplify the draft 2019 Form W-4, Employee's Withholding Allowance Certificate, and the accompanying instructions, to reduce administrative burdens on taxpayers....
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*Mark R. Exler, CPA, PFS is licensed to offer securities in the states of Arizona, California, Connecticut, District of Columbia, Florida, Georgia, Illinois, Iowa, Maine, Maryland, Massachusetts, Michigan, Mississippi, Nevada, New Jersey, New York, Ohio, Pennsylvania, Virginia and Washington
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