Update on the Federal Child Tax Credit (CTC)

January 02, 2022

We thought we would give everyone a brief description and update on the federal Child Tax Credit (CTC).  This has been one of the ‘levers’ that the federal government has pulled in order to get more money into the pockets of taxpayers that have children and fall within certain income limits. What is the Child […]

Is the IRS Calling You?

November 16, 2021

The Internal Revenue Service (IRS) will never call you looking for personal information or payment information.  They almost always initiate these conversations by sending notices through the mail. In some specific instances an IRS agent might attempt to call or show up at your home or business, but this is AFTER several notices have been […]

The IRS Still Has Not Processed My Return - What Should I Do?

October 07, 2021

It is October 7th, 2021, and since this has been such a recurring theme in our office this year (regarding tax year 2020 personal returns), I thought it would be appropriate to put out a blog post with some guidance.  This was actually an email (reply) made to an actual client and it highlights some […]

Retirement Plan Options for Business Owners

August 23, 2021

I’ve had several business owners ask me about the various retirement plans that are available, and how they might impact their taxes.  In response, I’ve created this (very basic) listing of the Retirement Plan Options available to Business Owners.  For more information, please don’t hesitate to call our office 716.320.1829.   TRADITIONAL IRA: $6,000 annual […]

Payroll Protection Program (PPP) Loan Documentation

April 24, 2020

With all the questions surrounding the PPP loan, I recently had an opportunity to email a client and go in-depth on the documentation required for the application. I think this information can be useful to any business owner trying to gain a better understanding: I hope all is well and you are staying safe during […]

Resources for Small Business Owners Amidst CARES Act

March 29, 2020

Due to the feedback I received from clients, I decided to turn an email I sent into a blog post, to allow for easy access and updates, as the situation evolves and information is made available. I will keep this post updated with the most current guidance available. Most (state) resources mentioned are specific to […]

Pandemic Vendor Forgiveness Template

March 28, 2020

This is an effective email template for small businesses in New York State (or any other declared disaster area) to use when requesting relief from certain vendor payments. I used it successfully when requesting rent deferment at one of my businesses, and thought others could use it as well. (Be sure to change the Governor […]

Sales Tax in New York State

September 01, 2017

When I was running my first business, I always forgot about the sales tax deadlines.  First of all, I was really busy working non-stop in my business, I didn’t have any office staff, and the quarterly deadlines didn’t even start at the beginning of the calendar year (making it hard to forget). Sales tax was […]

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