Tax Preparation, Insurance, Payroll, Medicare and Business Advisement in Jamestown NY
Tips and Articles on Tax Advisory
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
Asking questions is a good thing. There are times in my life, and I am sure in your own lives, that we just do not understand something we experience. That lack of understanding should give rise to question asking, but at times we just do not feel … [Read more...] about What Did They Just Say?
Certain Income Not Excludable Under the law, certain U.S. citizens or resident aliens, specifically contractors or employees of contractors supporting the U.S. Armed Forces in designated combat zones, may now qualify to use the foreign-earned … [Read more...] about Combat-Zone Workers
