Mar 5, 2020 | Firm Updates, Individual Tax
Among the many changes brought about by the Tax Cuts and Jobs Act (TCJA) are changes to the calculations of Net Operating Losses on individual income tax returns. Losses arising in tax years ending after 2017 can generally only be carried forward (the carry-forward...
Feb 14, 2020 | Firm Updates, Individual Tax
The NYS State School Tax Relief Program, also known as the STAR, provides homeowners in New York with relief on their property taxes. There are two types of STAR programs – the Basic STAR and the Enhanced STAR. To qualify for the Basic STAR, you need to fulfill...
Feb 10, 2020 | Firm Updates, International Tax
The IRS has announced new procedures that allow certain expatriates who have relinquished their U.S. citizenship to come into compliance with their U.S. tax and filing obligations and receive relief for back taxes. The new procedures can be found on the IRS website....
Jan 30, 2020 | Firm Updates, Small Business
In late 2017, the Tax Cuts and Jobs Acts (TCJA) created the most significant overhaul of the tax system in over 30 years. Throughout 2018, the IRS issued notices to clarify the new law and its effects on taxpayers. The IRS issued notice 2018-99 regarding parking...
Jan 28, 2020 | Firm Updates, Tax Tips
A guaranteed payment is a payment by the partnership that is made without regard to the income of the partnership (meaning the payment is guaranteed even if the partnership doesn’t have a profit). The partnership’s deduction for guaranteed payments will reduce the...
