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New York State pass-through entities now have an additional six months to elect into the optional pass-through entity tax.
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We are excited to announce that Patrick J. Dooher, CPA has received the prestigious Le Moyne College Frank Fernandez Business Leader of the Year Award!
Remember the excitement of the last day of the school year? Many adults have fond childhood memories of being off from school for the summer. But summer break isn't just for kids. Here are nine potential summertime tax breaks for grown-ups — including many that allow small business owners and…
In today's tight labor market, small businesses — including restaurants, delivery services, retail stores and manufacturers — are struggling to attract and retain top-quality staff. The conditions are likely to worsen in many sectors as demand ramps up during the summer months. To be competitive…
As part of its 2023 budget bill, New York state expanded the benefits of its elective pass-through entity tax (PTET) for some resident S corporation shareholders. The budget bill also creates a PTET election for New York City, making it the first U.S. local jurisdiction to offer such an election.
Congratulations! Your son, daughter or grandchild has earned a college degree and is ready to join the workforce. But there's one last "quiz" for you to administer before your child leaves the nest. The decisions your child makes today about spending and saving can mean the difference between…
Businesses that need real estate to conduct operations, or otherwise hold property, traditionally have put the title to the property in the name of the business itself. But owners are increasingly rethinking this approach. Many are recognizing that any short-term benefits may be outweighed by the…
There's a harsh tax penalty that you could be personally responsible to pay if you own or manage a business with employees.
As the 2021 tax filing season progresses, small businesses and self-employed taxpayers should make certain they are taking advantage of all of the tax deductions and opportunities available to them on their 2021 federal income tax returns. Tax savings increases after-tax cash flow and can mean…