What are the tax consequences of selling property used in your trade or business? There are many rules that can potentially apply to the sale of business property. To simplify […]
After your 2021 tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. Here are three considerations: 1. You can throw […]
This is a practical guide to navigating the main concepts associated with the pass-through entity (PTE) taxes for New York, New Jersey, and Connecticut. First, we cover some of the […]
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses […]
If you’re in the business of cryptocurrency or are thinking about joining the ever-growing number of people who are, odds are you’re hearing the terms “centralized” and “decentralized” quite a […]
Use a Secure Portal When sending information to your tax professional team, electronic portals provide a quick and easy way to send information. In addition, this method is far more […]
The Internal Revenue Code (IRC) provides a credit for ‘certain research expenses’ (QREs), the intention of which is to spur domestic technological development. The determination of qualifying expenses, and calculation […]
As we approach the holidays, many people plan to donate to their favorite charities or give money or assets to their loved ones. Here are the basic tax rules involved […]
If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune. Winnings […]