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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Pittsburgh Business Times

Pittsburgh insurance firm opens Washington, D.C., office

Tue, Aug 14, 2018

Pittsburgh-based insurance firm Seubert & Associates Inc. has opened an office in Washington, D.C. The site, Seubert’s second location, is located in the Franklin Square Building in downtown Washington, and will additionally serve clients and build the company’s brand in the Philadelphia area. The expansion effort is led by Daniel Seltzer, who has worked in the insurance industry for more tha...

UPMC Presbyterian Shadyside named to top hospitals list

Tue, Aug 14, 2018

UPMC Presbyterian Shadyside was named among the top 15 hospitals in the country by U.S. News and World Report. The 2018-19 Best Hospitals Honor Roll ranked the Pittsburgh hospital at No. 15, tied with the NYU Langone Hospitals in New York City, according to a news release. The list was led by the Mayo Clinic in Rochester, Minnesota; the Cleveland Clinic; and Johns Hopkins Hospital in Baltimor...

The Highest Office of Higher-Ed: David Finegold of Chatham University

Tue, Aug 14, 2018

Despite its move away from only providing education to women, Chatham’s commitment to developing strong women leaders is more ardent than ever. ...

Kennametal names new CFO

Tue, Aug 14, 2018

Kennametal has named a new vice president and CFO to succeed Jan Kees van Gaalen, who announced his retirement in June. The company's board has appointed Damon Audia to the position, according to a news release. Audia has 25 years of experience, most recently serving as senior vice president and CFO at Carpenter Technology Corp., a global manufacturer of premium specialty alloys based in Phila...

Here are the routes the Airport Authority says OneJet's no longer flying

Tue, Aug 14, 2018

The Allegheny County Airport Authority said Monday that 10 routes between Pittsburgh and other cities either were suspended or, in the case of one, never got started by scheduled air charter service OneJet. The authority filed a breach of contract suit late last week against OneJet Inc., claiming it fell short of the required number of new nonstop routes from Pittsburgh for the $1 million in g...

Looking for career changes, non-traditional students turn to Tech Elevator to learn software engineering skills

Tue, Aug 14, 2018

Tech Elevator will graduate its first Pittsburgh cohort of students at the end of August. ...

Council denies public hearing on zoning change to keep out UPMC hospital

Tue, Aug 14, 2018

Issue remains with the Planning Commission and a public hearing could still be scheduled, officials say. ...

Young Entrepreneur: Eric Wise of Wise Telemetry

Tue, Aug 14, 2018

Eric Wise founded Wise Telemetry, then BreatheWise, in 2014. ...

Pittsburgh bank corrects earnings report

Mon, Aug 13, 2018

CB Financial Services Inc. on Monday corrected its second-quarter 2018 financial results to include an expense invoice from a vendor that was received late. CB Financial (Nasdaq:CBFV) said it incurred an additional merger-related expense of $155,000 for services rendered in the quarter ended June 30. The company’s merger with First West Virginia Bancorp was completed on April 30. Net income ...

Benedum Foundation names new president

Mon, Aug 13, 2018

The Claude Worthington Benedum Foundation has named a new president. Jennifer Giovannitti, 48, was named the first woman to lead the foundation, which was established in 1944, according to a news release. She currently works as a community development manager for the Federal Reserve Bank of Richmond in its fifth district, which includes Virginia and West Virginia. Beginning in October, she wi...

US Tax News US Urged To Trim Tax Form W-4

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.... IMF Urges US To Hike Indirect Taxes

Fri, Jul 06, 2018

The International Monetary Fund has recommended that the United States raise indirect taxes to boost revenues, to offset the cost of recent tax cuts and spending increases.... IRS Announces Plans To Simplify Personal Income Tax Return

Mon, Jul 09, 2018

The US Internal Revenue Service has announced plans to streamline the personal income tax return for the 2019 tax filing season, to reflect changes brought about by the Tax Cuts and Jobs Act.... Wolters Kluwer Tax Expert Weighs In On Landmark Wayfair Ruling

Fri, Jun 29, 2018

The decision by the US Supreme Court to drop the physical presence requirement for states to impose sales tax will have an "incredible impact" on states' tax regimes and revenues, according to Mark Friedlich, Senior Director of Tax and Accounting, North America, Wolters Kluwer.... US Supreme Court Permits States To Tax Remote Sales

Tue, Jun 26, 2018

In a landmark decision on June 21, the Supreme Court of the United States overturned existing case law by ruling that a state can collect sales tax on remote sales even when the vendor does not have a physical presence in the state.... Mauritius's FATCA Filing Deadline July 31

Thu, Jun 14, 2018

The Mauritius Revenue Authority on June 11, 2018, warned those financial institutions required to report information on the accounts of US persons under the US Financial Account Tax Compliance Act that declarations are required by July 31, 2018.... DeFazio Tables US Anti-Profit Shifting Bill

Thu, Jun 14, 2018

US congressman Peter DeFazio (D-OR) has introduced legislation designed to amend the Tax Cuts and Jobs Act so that incentives for US corporations to shift income and production overseas are reduced.... TCJA Encourages Firms To Shift Profits Offshore, Says ITEP

Tue, Jun 12, 2018

Aspects of the tax reform legislation in the United States continue to provide an incentive for companies to shift profits offshore by providing more favorable tax treatment to foreign income than domestic profits, the Institute on Taxation and Economic Policy has said.... Canada Told To Sharpen Corporate Tax Competitiveness

Tue, Jun 12, 2018

The IMF has said that the recent changes to the US tax system could make Canada a less attractive destination for investment. ... AICPA Urges IRS To Augment Virtual Currency Guidance

Mon, Jun 04, 2018

The American Institute of CPAs has urged the Internal Revenue Service to supplement its guidance on the tax treatment of virtual currency transactions with answers to a set of frequently asked questions....