Aug 22, 2022 | Firm Updates, Small Business, Tax Tips
If you have not yet made the New York State (NYS) Pass-Through Entity Tax (PTET) election for 2022, you may opt-in through September 15, 2022, using NYS’ Pass-Through Entity Tax Annual Election application. An estimated payment is required upon opt-in. NYS...
Aug 17, 2022 | Firm Updates, Individual Tax, Small Business, Tax Tips
If you don’t have enough federal tax withheld from your paychecks and other payments, you may have to make estimated tax payments. This is the case if you receive interest, dividends, self-employment income, capital gains, or other income. Here are the applicable...
Jul 11, 2022 | Firm Updates, Small Business, Tax Tips
New York State’s $250 million COVID-19 Capital Costs Tax Credit Program provides financial assistance to small businesses burdened with a range of operational costs stemming from the COVID-19 pandemic, from structural changes and building upgrades to...
Jun 14, 2022 | Firm Updates, Individual Tax, Tax Tips
The New York State homeowner tax rebate credit (HTRC) is a one-year program benefitting nearly three million eligible homeowners in 2022. Eligibility To be eligible, you must have: qualified for a 2022 STAR credit or exemption, had income that was less than or equal...
Mar 23, 2022 | Firm Updates, Individual Tax, Tax Tips
Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the year. The tax treatment depends on how many days it’s rented and your level of personal use. Personal use...
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...
