Tronconi Segarra & Associates experts David Lever, CPA, and Tom Mazurek, Jr., CPA, discuss how their respective practice area specialties – cross border services and SALT services – can be of help to businesses who are selling, or who want to sell, into the U.S. This informational webinar aired live in January 2024 and is […]
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Click here to view/download the latest issue of our Small Business Newsletter – the 50th edition of our Small Business Newsletter! This edition also includes important information on the Visa and Mastercard Settlement for businesses that accepted Visa and Mastercard between January 1, 2004 through January 25, 2019. Claim forms to be part of the […]
Form 1099-R is an IRS tax document that a retirement plan must distribute when there is a taxable event on a participant’s account. The form reports information to the federal government regarding retirement benefits paid and amounts withheld for income tax. If a taxable event occurred within your retirement plan for 2023, you will be […]
As we reflect back on 2023, there was no shortage of news and scenarios related to the U.S. economy and personal finance. Interest rates, inflation, housing prices and a turbulent political landscape were among the many issues important and relevant to taxpayers. Tax season once again warrants the gathering of records and important statements in […]
The small business subtraction modification is a considerable benefit for New York State tax purposes that is oftentimes overlooked by taxpayers and practitioners. If you meet the definition of a small business, or are a member, partner, or shareholder of an LLC, partnership or S corporation in New York State, you may be entitled to […]
The Internal Revenue Service (IRS) has recently issued a clear reminder that taxpayers must again answer a digital asset question and report all digital asset related income when they file their 2023 federal income tax return. The question appears at the top of Form 1040 and was also added to additional tax forms for estates and […]
On December 13, 2023, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2023-08, “Accounting for and Disclosure of Crypto Assets.” The amendments in this long-awaited update revise the accounting for crypto assets under U.S. Generally Accepted Accounting Principles (GAAP) to better reflect the economics of crypto assets. Crypto assets, also known as […]
In a previous edition of our newsletter, we introduced a new document delivery process called SafeSend Suite. SafeSend Suite is a high-end online experience that offers electronic tax organizers, e-signatures, as well as document and tax return delivery. As more and more of our client’s work-from-home and require remote services, we identified SafeSend Suite to […]
Maintaining a steady cash flow is an integral part of operating a successful business. You must continually monitor your accounts receivable balances and take appropriate actions when customers are not remitting timely payments. Accounts Receivable is money owed to a business for goods or services that were provided. QuickBooks Online (QBO) provides valuable reporting tools […]