Jan 26, 2022 | Firm Updates, Tax Tips
Earlier this month, the National Taxpayer Advocate, Erin M. Collins, released her 2021 Annual Report to Congress in which she warned of the IRS’ backlog of over 10 million unprocessed returns entering this tax season and her expectation of delayed refunds. While...
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...
Nov 30, 2021 | Firm Updates, Individual Tax, Tax Tips
2021 brought a multitude of changes affecting individual taxpayers 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...
Mar 22, 2021 | Firm Updates, Individual Tax, Tax Tips
On Friday, March 19, New York State announced the extension of the individual tax deadline from April 15 to May 17, 2021, to align with the IRS’ recent extension of the federal tax deadline. It is important to note that both federal and New York State first...
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...
Feb 4, 2021 | Firm Updates, Tax Tips
Qualified Opportunity Funds (QOFs) were created as part of the Tax Cuts and Jobs Act of 2017 in order to provide tax incentives to investors who invest capital gains in economically distressed communities. A QOF is defined as an investment vehicle organized as a...
