1 December 2011
A growing number of states are becoming more aggressive about tax reform and forcing companies to reexamine their state tax compliance. A state’s ability to impose its tax obligations on an out-of-state corporation is limited by the U.S. Constitution. There are many strategies a company can use when it’s looking to resolve multistate [...]
1 December 2011
Transition planning is one of the most challenging undertakings that family business owners have to do. Family businesses that don’t anticipate and prepare for this transition are often sold either to pay taxes or because no one in the family is willing to take over. While this is a difficult process, proper planning is the [...]
1 December 2011
On November 15, 2011 the American Institute of Certified Public Accountants told a congressional panel that the small business health insurance tax credit was too complicated to encourage most small employers to offer health insurance coverage to their employees. “It was not uncommon this year for tax preparers to have spent up to [...]
11 November 2011
Voluntary Classification Settlement Program (VCSP) The IRS has recently released a new program, VCSP that will lead employers in resolving past worker false classifications. Employers are encouraged to voluntarily reclassify employees who had been wrongly classified as nonemployees or independent contractors in exchange for reduced prior year employment tax. To be eligible, [...]
11 November 2011
One of the things that set us apart as the best accounting firm in New York, is our ability to stay up-to-date with the rules and regulations of the Internal Revenue Service. We have a whole staff of accountants who understand exactly where our clients can find tax relief. In September, the IRS announced that [...]
