New york state taxes and Federal taxes have different rules. Personal and Business Income Tax Preparation and Planning
Managing Taxes on Your Retirement Savings The money you save and invest in your traditional individual retirement account (IRA) or 401(k) plan can compound tax deferred… Read More »MANAGING TAXES on Your Retirement Savings
Home Office Tax Tips Working from home can potentially deliver some attractive tax advantages. If you qualify for the home office deduction, you can deduct… Read More »Home Office Tax Tips
New marriage equals new tax responsibilities. Here are a few marriage tax tips to consider. These new responsibilities include: Reporting name changes to the Social… Read More »New Marriage Tax Tips
NEW LEASE Accounting Standards The Financial Accounting Standards Board (FASB) recently issued a new Accounting Standards Update (ASU) designed to improve financial reporting about leasing… Read More »New Lease Accounting Standards
Can your business donate inventory to charity? Businesses that donate inventory to charity need to be aware of the tax law’s rules for this type… Read More »Donating Excess Inventory to Charity
Business Travel Tax Deductions Business owners who travel out of town on business sometimes like to extend their trips and take a little time to… Read More »Traveling for Business and Pleasure — WHAT’S DEDUCTIBLE?
IRS regulations permit trade or business taxpayers to elect to currently deduct relatively inexpensive purchases of equipment and other fixed assets that would otherwise have… Read More »Deducting Low-cost Purchases
What do you need to include in your Personal Tax Check List? Income Data W-2 forms Pensions and annuities Partnership and trust income Alimony received… Read More »End of Year Personal Tax Check List
The tax-filing season has started, and taxpayers nationwide are gathering the information needed to file individual and corporate income-tax returns. What many people don’t realize,… Read More »TRUSTS AND ESTATES May Owe Income Taxes
Investors get a tax break on their net capital gain, defined as the excess of net long-term capital gain over net short-term capital loss.* Generally,… Read More »REVISITING Tax Rates