(212) 736-0055

Schedule Your Small Business Success Consultation

Blog

Home \ BlogPage 71
Avatar photo

FAQ: What is the new de minimis safe harbor for tax expensing?

Businesses generally want to write off costs more quickly, to reduce their taxable income and their tax burden. One mechanism for accomplishing this is to deduct the costs of depreciable property rather than capitalizing them. Under Code Sec. 179, taxpayers can expense a prescribed amount of their costs for tangible depreciable property, even if the […]

Read more
Avatar photo

“Lame-duck” Congress returns with busy post-election tax agenda

Lawmakers are scheduled to return to work after the November elections for the so-called “lame-duck” Congress. Despite what is expected to be a short session, there is likely to be movement on important tax bills. Tax extenders Every two years, like clockwork, the same scenario seems to play-out in Congress. Many popular but temporary tax […]

Read more
Avatar photo

Cash-flow 101 – Signs of Problems and Tips for Improvement

If income is the purpose of business, cash-flow is the lifeblood. As a business owner, you know how important cash-flow is to your business. Without cash, you can’t pay your bills, your employees or purchase the goods that you will sell. And if you can’t pay your bills, it doesn’t matter how much money you […]

Read more
Avatar photo

Mayor de Blasio Signs Intro 295-A Into Law, Expanding the Right to Pre-Tax Transit Benefits

NEW YORK—Mayor Bill de Blasio recently enacted Intro 295-A, which requires New York City companies with 20 or more full-time employees to offer pre-tax transit benefits. The bill encourages employers to take advantage of an existing federal tax benefit, which already allows businesses to offer its workers $130 a month as pre-tax income for transportation. The […]

Read more

October 2014 Newsletter

Joe Romano lists four steps to successful successions and how to protect your future by planning for the expected and unexpected.

Read more
Avatar photo

Four Steps to Successful Succession

Protect your future by planning for the expected and unexpected You know it’s going to happen eventually. Whether it is the results of a sale, a well-planned turnover of power or an unexpected life event, the day will come when you are no longer running your business on a day-to-day basis. Before that day comes, […]

Read more
Avatar photo

Employers prepare for employer mandate and Code Sec. 6056 reporting

As January 1, 2015 draws closer, many employers are gearing up for the “employer mandate” under the Affordable Care Act. For 2015, there is special transition relief for mid-size employers. Small employers (employers with fewer than 50 full-time employees, including full-time equivalent employees) are always exempt from the employer mandate and related employer reporting. Employer […]

Read more
Avatar photo

New challenges for 2014 year-end tax planning

Before the fast-approaching new year, it’s important to take some time and reflect on year-end tax planning. The weeks pass quickly and the arrival of January 1, 2015 will close the doors to some tax planning strategies and opportunities. Fortunately, there is still time for a careful review of your year-end tax planning strategy. Traditional […]

Read more
Avatar photo

October 2014 Compliance Calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals, businesses and other taxpayers for the month of October 2014. October 1 Employers. Semi-weekly depositors must deposit employment taxes for payroll dates September 24–26. […]

Read more

September 2014 Newsletter

Andy Presti discusses the benefits of fall planning for spring savings.

Read more

© Presti & Naegele Accounting Offices