Friday, November 10, 2017

EMPLOYEE MEALS: 50 OR 100 PERCENT DEDUCTIBLE?

Your business tax return could look a lot different depending on the circumstances of employee meals. Find out why and what you can do to get the most bang for your tax buck.

Tuesday, November 7, 2017

EMPLOYER COMPANY STOCK: RISKY OR WORTH IT?

Do you have too much of your employer's company stock in your 401(k) or other retirement plan? It's time to find out if you've made a smart or risky move.

Friday, November 3, 2017

FOUR SMART WAYS TO CUT BUSINESS COSTS


Cutting business costs is no easy task. Fortunately, there are a few ways you can save money before you consider more severe cost-saving measures. Take a look at these four options.

Tuesday, October 31, 2017

CONSIDERING LEASING YOUR BUSINESS REAL ESTATE?

If your business is incorporated, it may be a good idea for you to own the business real estate and lease it to your corporation. That's because there are a number of tax and nontax concerns relating to real estate ownership. Before you acquire new business property or change the ownership of property you already have, give us a call at (518) 798-3330. We can discuss tax considerations.

Friday, October 27, 2017

BEWARE OF EMAIL HACKS


One of several identity theft scams IRS Commissioner John A. Koskinen spoke about at a recent IRS Nationwide Tax Forum is a client email hack scam. This happens when a thief uses a taxpayer's email address to send an email to a tax preparer with instructions to redirect refunds into a different bank account.
Protect your tax returns this tax season by ensuring your email accounts and important data is kept safe with strong passwords, malware protection and other security measures.

Tuesday, October 24, 2017

DEBT FORGIVENESS AND TAXES

Did you know that any amount of canceled debt is typically taxed as ordinary income? If you receive debt forgiveness for home, car or student loans, or credit card interest and debt, you may create a tax liability. There are some exceptions, like when debt is forgiven as part of a Chapter 11 bankruptcy, or when a person's total debt is more than the value of the assets he or she owns.

Friday, October 20, 2017

HOW TO HIT THE STANDARD DEDUCTION THRESHOLD

Have you hit your standard deduction threshold yet? If not, you still have a few options to help create a lower tax bill for the 2017 tax season. One way is to donate stock you've held for more than a year to a charity. You can also consider prepaying next year's donation in the current year. Another option is to pay your taxes prior to year-end. We can help you find the best option for your situation.