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At the end of May the IRS had a backlog of 35 million tax returns, three times the number they had a year ago. In 2020 the IRS ran on restricted capacity due to Covid concerns, labor shortages and budget…
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Please see the letter below from the NY State Society of CPA’s regarding the taxability of unemployment in the state: Dear Elizabeth, The NYSSCPA Government Relations Team has been working non-stop to ensure your voices in Albany are heard as…
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Corporate CFOs have had their hands full this year, accounting for the abnormalities that came bundled with a global crisis and the COVID-19 Pandemic. Between sending workers into poorly equipped home offices, shutting off the valve on corporate travel and…
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As we near year end, it’s time to take a final look at your tax situation while you still have time to take actions that can change your tax liability for the 2020 tax year. In this post, I’ll speak…
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Face it, whether on the paying or receiving end, errors in your tax return can potentially turn your finances upside down. Incorrect entries, forms, and misinterpretations can certainly intimidate those who try to go DIY come tax time. So, what’s…
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Tax season has always been stressful. But the recent changes introduced with the Tax Cuts and Jobs Act (TCJA) may have you wondering what you are in for. You may have already seen in the news that some taxpayers, especially…
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Finding the perfect accountant to prepare your personal taxes is sometimes like a job itself. You know you want to find someone who is qualified, but what does that mean? When searching for a professional to prepare your personal taxes,…
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Benefits of Hiring a Full-Service Accounting Firm Bookkeeping and accounting are necessary tasks for every business, big and small. Depending upon your specific needs, your company size, the number of monthly transactions, and payroll operations, your accounting needs will vary.…
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Around this time of the year, busy professionals suddenly find themselves even busier by having to prepare for tax season by gathering financial documents, reviewing new tax laws, and learning about ways to save on their taxes. Before you know…
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Planning ahead for taxes is a New Year resolution most of us make. But it is never too late to consider some last minute strategies for this year… To help save on the tax bill, it’s always better to plan…
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