Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
Learn about tax tips and articles from our advisory section from Gleason Tax Advisory.
If so, the IRS May Allow a Deduction There may come a time when you receive income only to find out later you have to repay it. This can happen for several reasons, and the repayment is often made in a later tax year. For example, when this … [Read more...] about Did You Repay Income?
Is your child the next Warren Buffet? As a young boy at the age of 11, Warren Buffet invested the money he earned delivering newspapers into some farmland. He continued to invest and reinvest his money; now he is worth an estimated $85 … [Read more...] about Children and their money
Don't Panic! No one likes to receive a letter in the mail from the IRS. The assumption is that if you aren’t expecting a refund of some sort, it can’t be good news. Don’t worry. Often there is no reason to panic. More importantly, don’t make … [Read more...] about IRS Notices
New Law Eliminates Deduction For many of you, finding the money to pay for a new car, boat or dream vacation was as easy as tapping the equity in your home. Prior to 2018, you could use the equity in your home to make large purchases, pay expenses … [Read more...] about Home Equity Loan Interest
New Rules Limit Options There’s a rule in the tax code that allows you to exchange property you hold for business use or investment for other like-kind property and defer any tax on the gain. This was a popular strategy for business owners who wished … [Read more...] about Exchanging Business Property
How Does a Self-Insured Plan Differ from an Insured Plan? Most employers want to provide some type of fringe benefit to their employees. It’s a convenient way to attract and retain good workers. One of the more commonly provided fringe benefits is … [Read more...] about Providing Health Insurance Benefits To Your Employees
