INSIGHTS & IDEAS

New Developments

  • 2017 Social Security Wage Base Increased
  • 2017 Standard Mileage Rates
  • What you should know when employing household help
  • Consider a NYS 529 Plan
  • Your Chances of Being Audited by the IRS
  • Social Security Goes Hi-Tech
  • IRS Interest Rates for Fourth Quarter 2016
  • Simplifies Home Office Deduction
  • Charitable Contribution Documentation Requirements
  • Tax Court rules that payments made to caregivers are deductible medical expenses
  • How to Check IRS Refund
  • Overstated Stock Basis Limited By 3 Year Statute
  • IRS intensifies scrutiny of misclassified workers
  • Use Caution with ATM Transactions
  • Issuing Forms 1099 to independent contractors
  • Not all section 529 Plans are the same
  • Caution advised in treating employees as independent contractors
  • Losses in Section 529 Plans
  • Now may be the time to convert traditional IRAs into ROTH IRAs
  • How safe is your money market fund?
  • Loss in IRA accounts
  • Undelivered IRS Refund Checks
  • Information reporting for real estate
  • Withholding tax may be required for sale of U.S. real property to foreign persons



  • Library

  • All audits are not equal
  • Tax-exempt Organization workshop
  • Tax treatment of NYS STAR rebate
  • Social Security When should you begin collecting benefits?
  • Red flag deductions
  • Lower Capital Gains Rate
  • Are expenses related to the office Christmas party deductible?
  • Can Employees Misappropriate Funds From Your Bank Account?
  • Vince Pangia admitted to US Tax Court
  • Charitable Contributions-Accrued Paid Time Off
  • What to do if you are victim of identity theft
  • 2007 inflation adjusted figures released by IRS
  • 2007 Auto allowance now 48.5 cents
  • 2007 Social Security limit raised to $97,500
  • Postage rates increase May 14, 2007
  • Filing due date extended to 6/25/07 for residents of listed NY State Counties
  • AMT Year-end Tax Planning
  • IRA and 401(K) annual deferral limits increased for 2007
  • 2006/7 Energy Credits
  • Quantifying the risk of holding securities for a long-term capital gain tax treatment
  • IRS to conduct random employment tax audits in February 2010
  • Brokers give until February 16, 2010 to provide customers with year-end tax statements (Form 1099-B)
  • NYS sending incorrect 2005 tax notices
  • 2009 Standard Mileage Rates Decreased
  • Liberalized Depreciation Rules for 2008
  • IRS picks lucky 13,000
  • 2008 Inflation adjusted amounts
  • New unfavorable kiddie tax rules
  • Detailed federal employment tax audits have begun
  • 2007 NYS minimum wage $7.15 per hour
  • Social Security earnings subject to Social Security tax increases to $102,000 from $97,500
  • Interest Rates Remain the Same for the Third Quarter of 2011
  • Overpayment and underpayment rates increase for the 2nd Quarter of 2011
  • 2010 Standard Mileage Rates Decreased
  • Liberal Depreciation Rules Extended through December 31, 2010
  • Social Security earnings subject to Social Security tax increases to $106,800 from $102,000
  • New York taxes gone wild
  • Federal minimum wage increase
  • Annual gift tax exclusion $13,000 in 2009
  • Federal minimum wage increases July 24, 2009
  • Filing Date April 17th for 2011 Tax Returns
  • 2011 Standard Mileage Rate
  • Social Security wage base remains at $106,800 for 2011
  • STAR Registration Deadline December 31, 2013
  • 2014 Standard Mileage Rates
  • 2014 401(K) Limitations Unchanged
  • Social Security wage base increases to $118,500 for 2015
  • 2015 Retirement Plan Limits Increase
  • Tax Relief for victims of Hurricane Irene in New York
  • New reporting requirements for landlords in 2011