SALT Deduction Limit: Avoiding the $10,000 Federal Limitation in New York
SALT Deduction Limit: Avoiding the $10,000 Federal Limitation in New York Effective for tax years beginning on or after January 1, 2021, The New York...
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Employee Retention Credit in 2021: Opportunities for Startup Businesses
Did you start a business after February 15, 2020? If you can answer “yes”, you MAY be eligible for a maximum $50,000 per quarter refundable Employee...
The “NEW” York Pass-Through Entity Tax Election
The New York PTET May Help to Circumvent the $10,000 Federal Itemized Deduction Limitation for State and Local Taxes. The New York State 2021-22...
Driving Innovation and Investments With R&D Tax Credits
As a business owner, you recognize the importance of continuous investment in your business to stay ahead of the competition. But, as the business...
The American Rescue Plan Extends Relief Through 2021
President Biden signed the $1.9 trillion American Rescue Plan Act of 2021 (ARP) on March 11, 2021. The ARP provides relief funding to families and...
Qualified Opportunity Fund Investments: IRS Provides Additional Relief
On January 20, 2021, the IRS released Notice 2021-10 to provide additional relief to Qualified Opportunity Funds (“QOF”) and their investors in...
New York State to Conform to Federal Rules and Not Tax Forgivable PPP Loans
In a surprising announcement, New York State has provided updated guidance that they will now conform and adopt the federal rule contained within the...
Employee Retention Credit: 2021 Update
If you are an employer that had a significant decline in gross receipts over the last 12 months or faced full or partial mandatory closure by...