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21 Feb
2012 Read More
Barry Groebel

Barry Groebel Featured in Reading Eagle Business Weekly

Barry D. Groebel, CPA of Herbein + Company, Inc. was featured in the February 21, 2012, Reading Eagle Business Weekly article on “The tax that will not die“, by Ford Turner. This article discusses the Capital Stock and Foreign Franchise Tax and Gov. Corbett’s next step. Please click the link to view the article: “The tax that …

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16 Feb
2012 Read More

Tentative Payroll Tax Cut Extension Reached

As of February 16, 2012 a tentative agreement has been reached by lawmakers negotiating over the payroll tax cut extension. It will reach President Obama by next week. The following is outlined according to the tentative agreement: Extend the 2 percentage cut in Social Security and Medicare until year–end. Extend the expiring jobless benefits for the long-term unemployed Adjust …

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01 Feb
2012 Read More
JRS_web

Why is it Important to Plan for Your Estate Now?

With the uncertainty of where estate and gift tax exemptions and rates will be after January 1, 2013, it is important to consider planning with the current $5 million exemption available today. While there are many estate planning strategies, this blog post will discuss living trusts. The purpose of estate planning is to be sure that after …

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01 Feb
2012 Read More

What IRA Beneficiaries Need to Know About Taxes

Tax deferral is a key benefit of investing in a traditional individual retirement account (IRA). But the tax law doesn’t allow indefinite tax deferral. Starting at age 70½, IRA owners must withdraw a minimum amount — called a required minimum distribution, or RMD — every year. All funds withdrawn from a traditional IRA are taxed as ordinary …

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27 Jan
2012 Read More

2012 Cost of Living Adjustments

2012 COLA’s The individual income-tax brackets and many other tax-related provisions are subject to inflation indexing. Thanks to cost-of-living adjustments (COLAs), several key items will be higher for the 2012 tax year, including the: Personal exemption — $3,800 per eligible person 401(k) salary deferral limit — $17,000 (plus an additional $5,500 of catch-up contributions, if eligible) Limit …

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11 Jan
2012 Read More

Pennsylvania Use Tax Update

New Line on PA Tax Return Forms Some internet vendors falsely advertise their products as “tax free”. However, Pennsylvania law requires the payment of use tax by any person who purchases taxable goods delivered to Pennsylvania if sales tax is not collected by the vendor. The use tax also applies to purchases made through toll-free numbers, mail …

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09 Jan
2012 Read More

New HIRE Retention Credit

A Reminder Before Filing Your 2011 Business Income Tax Return If your business took advantage of the Hiring Incentives to Restore Employment Act (HIRE Act) which was enacted in March 2010, you may now qualify for another tax break – the New Hire Retention Credit. The HIRE Act was designed to restore jobs lost during the economic …

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01 Jan
2012 Read More
Jack Kolmansberger

Welcome to Our Site

Welcome to the new www.herbein.com! Herbein celebrates our 40th anniversary in 2012. A comparison between technology then and technology today is shocking. Even more shocking is the rate of acceleration over the past 20 years, the past 10 years, and even the past year. Today we’re routinely doing things that were previously unimaginable. Sometimes we look at …

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