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Accounting,
2 min read
Are You Having Difficulty Attracting and Hiring Employees?
The Federal government provides tax relief to employers hiring and retaining employees. The credits reduce the cost of employees, allowing employers to offer higher wages to attract employees. Today I…
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Accounting,
2 min read
Tax Breaks for Self-Employed Individuals Who Use a Vehicle for Business
Generally, you can claim deductions for vehicle expenses as a self-employed taxpayer, but the tax law includes several limits that can affect your write-offs. The rules for purchased and leased…
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Accounting,
2 min read
Should You Use an LLC for Investment Property?
Investing in real estate may offer certain income tax advantages and is a great way to build wealth. If you are interested in investing in real estate you may be…
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Accounting,
1 min read
Updates to the Child Tax Credit Update Portal
The Internal Revenue Service has added the ability for families to update postal mailing addresses to the Child Tax Credit Update Portal. The IRS also plans to add other self-service…
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Accounting,
1 min read
Potential Tax Savings for Members, Shareholders, and Partners of Pass-Through Entities
On August 25, 2021 the New York State Department of Taxation and Finance issued Technical Memorandum TSB-M-21(1)C, (1) (TSB-M-21(1)C, (1)I:(8/25):Pass-Through Entity Tax (ny.gov)) addressing the pass-through entity tax (PTET) under…
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Accounting,
1 min read
Are You Eligible to Claim the Employee Retention Tax Credit (ERTC) For Q1 or Q2 of 2021?
For the first and second calendar quarters of 2021, an employer may be eligible for the employee retention credit with respect to a calendar quarter if the operation of the…
