SECTION ONE Changes to the credit for Small Employer Retirement Plan Start-up Costs with Secure Act 2.0 Effective for taxable years beginning after December 31, 2022, the start-up credit for adopting a retirement plan increases from 50% to 100% of administrative costs for small employers … [Read more...] about Secure Act 1.0 and 2.0: Increased Tax Credits for Small Employers with New Retirement Plans
Small Business
The SECURE Act 2.0 – Important Highlights to Know
The Consolidated Appropriations Act, 2023, which includes the SECURE Act, 2.0 was signed into law on December 29, 2022. The SECURE Act 2.0 is designed to build upon the provisions of the original SECURE Act to expand participation and boost retirement savings. In part, the SECURE Act 2.0 does this … [Read more...] about The SECURE Act 2.0 – Important Highlights to Know
Deferral of Form 1099-K Requirement
What is a Form 1099-K? This is an IRS tax form that summarizes transactions made by third-party settlement organizations. These companies are typically payment processors such as credit card companies, PayPal, Venmo, or Square. You may receive a Form 1099-K if your business processes a significant … [Read more...] about Deferral of Form 1099-K Requirement
Severe Winter Storm Relief for Businesses and Individuals in New York State
Victims of the New York severe winter storm beginning December 23, 2022, were granted tax relief by the IRS for those areas declared disasters by the Federal Emergency Management Agency (FEMA). The declaration allows the IRS to delay certain tax-filing and tax-payment deadlines for those taxpayers … [Read more...] about Severe Winter Storm Relief for Businesses and Individuals in New York State
Use “SafeSend” to Send Us Your Personally Identifiable Information (PII)
It can be tempting to send sensitive information via email, especially when you are time-stressed and multi-tasking (who isn’t these days?). However, did you know that regular email is not as cyber-secure as you may think? That’s why we recommend our clients use our “SafeSend” secure, encrypted … [Read more...] about Use “SafeSend” to Send Us Your Personally Identifiable Information (PII)
New This Year For Our Clients – “SafeSend Suite”
In the interest of providing our clients with a convenient, safe and efficient experience during the tax preparation and document delivery process, we have implemented SafeSend Suite. SafeSend Suite is a high-end online experience including electronic tax organizers, e-signatures, document and tax … [Read more...] about New This Year For Our Clients – “SafeSend Suite”