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News

Our news articles are posted on a regular basis to give our clients relevant and timely information about matters pertaining to our financial services. Browse through our current and archived articles to learn more.

Tag Archives: Long Island Accountant

Accounting & Tax :: Get Tax Transcripts FAST

In mid-January 2014, the IRS introduced the ability for taxpayers to instantly view and print tax transcripts. Prior to the introduction of this new online service, taxpayers were able to request either returns or transcripts, which would take approximately 5-10 … Read more

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Financial & Wealth :: What Is a Required Minimum Distribution?

A required minimum distribution (RMD) is the annual amount that must be withdrawn from a traditional IRA or a qualified retirement plan (such as a 401(k), 403(b), and self-employed plans) after the account owner reaches the age of 70½. The … Read more

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Accounting & Tax :: Small Business Tools & Resources

Small Business Tax Tools and Resources Online Now is a good time to check out the IRS Small Business and Self-Employed Tax Center, a convenient way for small employers to find answers to tax questions, educational materials and other tools to … Read more

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Accounting & Tax :: Simplified Option for Claiming Home Office Deduction

The Internal Revenue Service recently announced a simplified option that owners of home-based businesses may use to determine deductions for the business use of their homes. The new simplified option is available starting with the 2013 return. Over 3 million … Read more

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Commercial Insurance Services News :: Disaster Recovery Checklist for Business Owners and Executives

Everyone is responsible for the disaster preparedness of their own households. Business owners and executives, however, have additional responsibilities. Not only do they have to get their house in order, but they are also responsible for hardening their own businesses … Read more

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Accounting & Tax :: Severance Payments are not Subject to FICA Tax, Again!

In June 2010, the IRS announced it was not following the taxpayer friendly decision reached in Quality Stores Inc. and would continue to impose FICA taxes on certain employee severance payments. As a result of the Quality decision, many taxpayers … Read more

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Accounting & Tax: New York State Sales Tax Web Filing Update

The New York State Department of Taxation and Finance has recently updated their Sales Tax Web File requirements. Improvements allow vendors to file amended returns, file refund/ credit request applications, and will save a taxpayer’s bank account information for future … Read more

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Accounting & Tax News :: 2012 Year-end Planning: Part 2

Tax planners and their clients face the prospect of a darker tax climate in 2013 for investment income and gains. Under current law, higher-income taxpayers will face a 3.8% surtax on their investment income and gains under changes made by … Read more

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