Feb 15, 2022 | 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...
Dec 20, 2021 | Firm Updates, Retirement Planning, Small Business
On October 21, 2021, Governor Hochul signed legislation ensuring retirement plan security for private-sector employees. The seven-member New York Secure Choice Savings Program Board will run the program. This law will apply to both for-profit and non-profit employers...
Nov 30, 2021 | Firm Updates, Small Business, Tax Tips
2021 brought a multitude of changes affecting businesses and with additional legislation being debated in Congress, it looks like 2022 will be no different. As the proposed legislation is still evolving, we will focus on the existing laws to assist your year-end tax...
Sep 15, 2021 | Firm Updates, News Brief, Small Business
Outsourcing your organization’s accounting function is a flexible, cost-effective way to address the ever-changing operational needs of your organization. There are many different accounting tasks that can be outsourced, each of which can provide a variety of benefits...
Aug 25, 2021 | Firm Updates, Small Business
New York State enacted a new pass-through entity tax for tax years beginning on or after January 1, 2021. Any pass-through entities including a limited liability company treated as a partnership for federal purposes and any New York S Corporations are eligible to make...
Mar 3, 2021 | Firm Updates, Small Business, Tax Tips
If your business owns one building, but you want to replace it with another building, what should you do? You could sell the building, recognizing and paying tax on any gain, and then buy a new building. Alternatively, you could defer the gain by exchanging the old...
