Payroll Tax Update NYS Paid Sick Leave: New York’s paid sick leave law requires employers to provide up to 56 hours (7 days) of paid sick leave to employees, in addition to New York State provisions providing up to 14 hours of emergency sick time due to Covid-19. This requirement is based on the … [Read more...] about Annual Payroll Tax and Form 1099 Update
Accounting
Tools, Tips and Tidbits for 2022
By Jenny Willis, Supervising Senior Accountant Tax Year 2022 Key Amounts Standard Deduction - Married filing jointly — $25,900 - Married filing separately — $12,950 - Head of household — $19,400 - Single — $12,950 Child Tax Credit (fully refundable) - Children ages 5 and under: … [Read more...] about Tools, Tips and Tidbits for 2022
Special Edition of our Quarterly Small Business Newsletter
Read our new quarterly small business newsletter here for key information and updates you won't want to miss, plus our annual 1099/Payroll update AND a fun Holiday puzzle for those who enjoy a little challenge every now and then. As always, feel free to contact your Tronconi Segarra & Associates … [Read more...] about Special Edition of our Quarterly Small Business Newsletter
Document Retention Policies for Businesses
Setting a document retention policy for a business is no simple task because, generally, there are no specific rules. In many cases, retention policies are based on years of “best practices.” What does come into play is where there is an applicable statute of limitations, a legal requirement … [Read more...] about Document Retention Policies for Businesses
QuickBooks Desktop Transitions to Subscription Model with the 2022 Release
Intuit has recently announced it is transitioning to annual subscription model pricing and eliminating its product license software for purchase for Pro & Premier products. Beginning with the 2022 release, you will no longer be able to make a one-time purchase of a license for the Desktop … [Read more...] about QuickBooks Desktop Transitions to Subscription Model with the 2022 Release
Importance of Bank Reconciliations
Cash is the most vulnerable asset in a business. Performing bank reconciliations is an internal control mechanism that can help identify unusual transactions that might be caused by simple accounting errors or worse yet, fraudulent activity. It’s extremely important to perform such … [Read more...] about Importance of Bank Reconciliations