Articles

How Is AI Impacting Small Business Performance? Evidence from the Third District Source: Federal Reserve Bank of Philadelphia  by Theresa Dunne & Adam Scavette As adoption of artificial intelligence (AI) applications rises among U.S. firms, researchers are seeking to better understand the technology’s usage and impact across different types of businesses. Recent research suggests that although large…

A Beginner’s Guide to Creating and Managing an Email Marketing List Source: US Chamber By: Emily Heaslip Email marketing is consistently rated one of the most effective ways to connect with customers. But it takes time to build and manage the list of contacts you need for your email marketing to deliver maximum impact. Here’s…

Changes to Local Tax Sourcing in Pennsylvania Source: McKonly & Asbury The 2026/2027 Pennsylvania budget was passed on July 12, 2026. As part of the budget legislation, changes were made to sourcing rules relevant to the two local jurisdictions that charge an additional sales tax on top of Pennsylvania’s 6% sales tax. Philadelphia charges an…

Mid-Year 1099 Updates Source: McKonly & Asbury Businesses typically file Form 1099 to report certain payments made to individuals or other businesses to the IRS. The IRS uses these forms to help verify that recipients have accurately reported the full amount of income they received. Individuals and businesses that receive these forms should use them…

U.S. Chamber Secures Victory Against New York’s Retroactive Liability Law Source: US Chamber WASHINGTON, D.C. — The U.S. Chamber of Commerce secured a victory in a federal lawsuit that challenged the constitutionality of New York’s retroactive liability law. Neil Bradley, Executive Vice President and Chief Policy Officer at the U.S. Chamber of Commerce, issued the…

PA Chamber Seeks Changes to Proposed Corporate Tax Rules Source: PA Chamber, Sentinel The PA Chamber is urging the State Department of Revenue to revise its proposed regulations governing how businesses determine which sales of services count as Pennsylvania sales when calculating their corporate net income tax. The Chamber submitted comments last week to the Independent Regulatory Review…

Small Business Accounting Setup: The Ultimate Guide to Managing Your Finances Source: US Chamber, Jessica Elliott Accounting is a critical business task that every company has to contend with, regardless of industry, business model or sales method. Setting up your accounting correctly from the very beginning will save you a lot of headaches and hassle…

Healthcare Revenue Recognition Source: McKonly & Asbury When healthcare entities record patient service revenue, ASC 606 Revenue from Contracts with Customers governs how it is recorded. ASC 606 requires a five-step process to recognize revenue.  The fifth step, recognizing revenue when (or as) the entity satisfies a performance obligation, can be challenging for healthcare organizations, since the…

Who can help with natural gas procurement in the U.S.?  Source: World Kinect Understanding the role of the natural gas marketer in modern energy procurement A natural gas marketer helps U.S. organizations with natural gas procurement by sourcing supply, structuring contracts, managing price risk, and supporting broader energy procurement, energy management, and operational strategies. Introduction: When natural gas procurement becomes strategic…

What Is P.L. 86-272 and How Can It Be Beneficial for State Compliance? Source: McKonly & Asbury, Karley Berry State nexus is the connection between a business and a state that gives the state authority to impose tax obligations, including income tax filing requirements. In some states, nexus is easy to identify because the law…