Jan 29, 2019 | Firm Updates, Small Business, Tax Tips
Commercial buildings and improvements generally are depreciated over 39 years, which essentially means you can deduct a portion of the cost every year over the depreciation period. (Land is not depreciable.) But special tax breaks that allow deductions to be taken...
Jan 25, 2019 | Firm Updates, Individual Tax
When someone asks you to serve as executor of his or her estate, it is generally meant as a compliment that he or she trusts you to serve in this important role. But don’t simply accept the role before you have given the matter serious thought. Not only does the...
Jan 22, 2019 | Firm Updates, Individual Tax, Tax Tips
If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter—can you still claim an itemized deduction for the...
Jan 21, 2019 | Firm Updates, Small Business
The New York State Department of Taxation and Finance recently published guidance on the requirements for out-of-state vendors to register and charge sales tax. This guidance follows the Supreme Court ruling in South Dakota v. Wayfair, which removed the physical...
Jan 16, 2019 | Firm Updates, Individual Tax
While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks—and, in some cases, due to their filing status. But some may see...