Jan 17, 2017 | Firm Updates, Individual Tax, Tax Tips
The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can be valuable to those residing in states with no or low income taxes or who...
Jan 11, 2017 | Firm Updates, Individual Tax, Tax Tips
If you’re like many Americans, you might not start thinking about filing your tax return until close to this year’s April 18 deadline. You might even want to file for an extension so you don’t have to send your return to the IRS until October 16. But there’s another...
Jan 6, 2017 | Firm Updates, Small Business
The New York State Department of Labor rule that increases overtime exempt salary thresholds for New York employees is now in effect as of December 31, 2016. Employers in New York must comply with the new overtime salary thresholds as outlined in the chart below....
Jan 4, 2017 | Firm Updates, Small Business
Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you are meeting all...
Dec 30, 2016 | Firm Updates, Small Business
Changes to minimum wage in New York State take effect December 31, 2016. The minimum wage rate is tiered by region and depends on the geographic location of the workplace, the size of the employer’s workforce, and the calendar year. Below is a breakdown of the rate...
Dec 28, 2016 | Firm Updates, Retirement Planning
Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2017. The only limit that has increased from the 2016 level is for contributions to defined contribution plans, which has gone up...