Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
Maintaining accurate and organized financial records is vital for any small business. At Gleason Tax Advisory, we emphasize the importance of being organized, tracking expenses diligently, recording deposits accurately, separating business and … [Read more...] about The Importance of Good Bookkeeping Habits
FinCEN (Financial Crimes Enforcement Network) and the IRS (Internal Revenue Service) have initiated communication with financial institutions, highlighting a worrisome uptick in state and federal payroll tax evasion and workers' compensation issues … [Read more...] about Financial Institutions Alerted to Growing Concerns of Payroll Tax Evasion in the Construction Sector
In a significant development for tax-advantaged educational savings, the SECURE 2.0 Act introduces a game-changing provision allowing the rollover of unused funds from 529 accounts to Roth IRAs. Aimed at providing enhanced flexibility for educational … [Read more...] about Unlocking New Opportunities: Rollover of 529 Accounts to Roth IRAs Under SECURE 2.0 Act
There has been an uptick with Employee Retention Credit Scams. Congress introduced the Employee Retention Credit (ERC) during the COVID era as a tax benefit aimed at supporting businesses that continued to pay their employees amidst pandemic-related … [Read more...] about Employee Retention Credit Scams
The IRS has recently introduced regulations set to take effect in 2025, mandating brokers to furnish the agency with comprehensive reporting digital asset sales, customers' sales or exchanges of digital assets. Presently, taxpayers are liable for … [Read more...] about Reporting Digital Asset Sales
You have many ways to save for retirement using tax-favored accounts. Three of the most common are a traditional IRA, a Roth IRA, and a 401(k)-type qualified plan. A traditional IRA is an account that holds assets for retirement. If you contribute … [Read more...] about Saving for Retirement
