Rising Above the Chaos Consider: Receivables from Large Corporate Customers We have a fast update on what we are hearing globally for you to judge if and how it may impact your business. We corresponded with the director of finance of a multinational healthcare company today. They are bending over backward to get payments… Read more »
Tax implications for Common Types of Crowdfunding More and more small business and startup company owners are turning to crowdfunding in the hopes of generating cash as well as creating a buzz around their business. Websites such as Kickstarter and Indiegogo make it super easy to find a platform to launch your project, however it… Read more »
After reading Part 1 of Vacation Rental Property, you now have an idea of the expenditures and personal vs rental days that you have to track for the IRS. This blog will focus on the percentage of the aforementioned expenditures you can deduct. That is correct, in case you were wondering, you cannot deduct 100% of… Read more »
Many of us dream of owning a vacation house that we and our families can use to rest and relax. Since we unfortunately cannot be on vacation all the time, many people rent their vacation homes out for part of the year to help defray some of the financial costs. While all you… Read more »
Fake charities make 2018 ‘Dirty Dozen’ list; Taxpayers should be alert to scams involving disasters, worthwhile cause WASHINGTON — The Internal Revenue Service warned taxpayers against scam groups masquerading as charitable organizations, luring people to make donations to groups or causes that don’t actually qualify for a tax deduction. These ‘fake’ charities attempt to attract donations… Read more »
Many people (including some tax accountants) do not know, or forget, that there is a potential significant tax benefit for having invested in a startup business that is either a C Corporation or converts to a C Corporation from another structure such as a Partnership or LLC. This benefit comes by way of what is… Read more »
Now that the dust is beginning to settle on the release of the Tax Cuts and Jobs Act, a big taxpayer concern I’ve encountered is the loss of a tax benefit from charitable contributions. But alas! In certain situations your tax benefit may not have disappeared for either individuals or business owners! First thing is… Read more »
The Kane Family is hosting a Column of Hope picnic for those affected by Chiari, syringomyela and related disorders including Ehlers-Danlos syndrome on Sunday July 8, 2018. This is a relaxed, enjoyable evening that allows the Buffalo medical community, families, friends and patients to share experiences. Read more about the event in the West Seneca… Read more »
This post is geared for college students considering taking the CPA exam – because as everything in life, it all comes down to planning and looking ahead! The first part of the post is geared towards first and second year college students. The remainder focuses on strategies to study for the CPA exam that I… Read more »
The Tax Cuts and Jobs Act (TCJA) was signed into law on December 22, 2017. TCJA is broad in nature and represents the most sweeping tax reform in over 30 years. Most changes begin 1/1/2018, directly affecting your 2018 tax return, and will sunset on 12/31/2025 if not extended. The bill is vast and contains… Read more »
