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On September 13, 2021, the House Ways and Means Committee released draft legislation that proposes a series of tax increases and tax cuts, which will undergo a round of markups by the committee over the next few days. Most tax proposals were anticipated; however, the House provided a few surprises. Read more

Tags: Tax

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Earlier this year New York State introduced an optional 'Pass-through entity tax ("PTET")' 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. This type of tax has been enacted by a number of states and is…

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Tags: Tax, CPE, Seminar

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Join us virtually for two days of programs centered around the latest hot topics.

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Tags: Tax

Fust Charles Chambers Tax Sports
Football season will be kicking off soon. Beware: If you participate in fantasy sports leagues for money, there may be tax implications related to these activities. For instance, you may enter fantasy sports competitions offered by sponsors like FanDuel and DraftKings where you can win or lose…

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Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly 12 million PPP loans, averaging $67,000. The PPP program stopped accepting loan…

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Tags: Best Of, Careers

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Tags: Best Of, Careers

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Fust Charles Chambers LLP, Certified Public Accountants has been recognized by Accounting Today as one of the 2021 Best Accounting Firms to Work For!

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Securities Trader Fust Charles Chambers Investing
It's advantageous for short-term investors to qualify as traders, rather than investors, for federal income tax purposes. Unfortunately, there's no bright-line distinction between trader and investor status. Here's an overview of the IRS and U.S. Tax Court guidance to help determine if you qualify…

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