NY Daily Record Since 1908

The Tax Cuts and Jobs Act (TCJA) included a provision regarding expenses employers incur to provide employee parking. Under Section 274(a)(4) of the new law, any expenses paid after Dec. 31, 2017 in connection with employer provided qualified parking for ...

Tagged with: John Finocchario Keeping Your Balance

With the passage of Protecting Americans from Tax Hikes (PATH) in 2015, the Credit for Increasing Research Activities was finally been made permanent. Not only did PATH make the credit permanent, it also included provisions which allow the credit to ...

Tagged with: John Finocchario Keeping Your Balance

  In November 2015 Congress passed the Bipartisan Budget Act of 2015. The BBA replaced the rules for audit procedures for partnerships that were originally established by the Tax Equity and Fiscal Responsibility Act of 1982. The main objective of ...

Tagged with: Keeping Your Balance

On July 31, President Obama signed into law a highway funding bill which contained many tax provisions that will impact the due dates of certain business tax returns. The provisions will apply to tax years beginning after Dec. 31, 2015. ...

With the holiday season right around the corner, it is important for both employers and employees to be reminded about the tax consequences of receiving gifts, awards and other prizes. Whether it is a free turkey at Thanksgiving, an award ...

Tagged with: Keeping Your Balance

With the green initiative in full swing around the country, more and more companies are beginning to examine the advantages of using solar or other renewable fuels in the operation of their business. In addition to the goodwill of decreasing ...

Tagged with: Keeping Your Balance

Any U.S. persons with a financial interest in or signature authority over foreign financial bank accounts with aggregate balances exceeding $10,000 at any time during the year is required to report that information to the United States Treasury Department. The ...

Tagged with: Keeping Your Balance

S corporations are often an attractive choice for a business entity because the earnings of the business are not subject to self-employment tax. It is important, however, to remember that shareholder-employees of an S corporation are entitled to receive compensation ...

Tagged with: Keeping Your Balance

Cost segregation studies are often used as a powerful tax saving strategy when a taxpayer purchases a building. Often times, a building is purchased for a flat purchase price that does not provide a breakdown of the actual assets purchased. ...

Tagged with: Keeping Your Balance