Aug 2, 2023 | Firm Updates, News Brief
While the global pandemic brought many hardships, it also encouraged a great deal of generosity. 2020 and 2021 were two of the strongest giving years on record, but now we enter a new, post-pandemic era with great economic uncertainty. 2022 saw decreases in overall...
Aug 2, 2023 | Firm Updates, News Brief
On April 26, 2022, the House of Representatives introduced the Nonprofit Sector Strength and Partnership (SEAT) Act. This bill aims to reinforce the relationship between nonprofits and the federal government, identify common goals, achieve common objectives, encourage...
Aug 2, 2023 | Firm Updates, High Technology
The revenue recognition standard, ASC 606, applies to all industries; however, there are certain unique items to consider when accounting for software and software-as-a-service (SaaS) contracts under these rules. Two important terms to understand before determining...
Jun 21, 2023 | Firm Updates, Retirement Planning, Tax Tips
Charitable giving affords crucial support to nonprofit organizations that are providing essential services to communities. With a little planning, they also offer potential income tax savings to the donor. For income tax purposes, the amount of a deductible...
Feb 27, 2023 | Firm Updates, Small Business, Tax Tips
The New York State Pass-Through Entity Tax (PTET) is an optional tax that partnerships or New York S corporations may annually elect to pay on certain income for tax years beginning on or after January 1, 2021. Who is eligible? Any partnership [including a limited...
