A New Way To Record Payroll in QuickBooks

Staff accountants and bookkeepers using payroll in QuickBooks can record all of their entries to wages and taxes payable, while also grossing up payroll as infrequently as once a month, quarter, or year. This can be a significant time saver, especially when the month to month reporting is not needed. However, when reporting on a […]

Are There New York City Property Taxes?

I would have to say that it really depends on what kind of property you own and what you intend to do with that property. There are many levels of New York City property taxes, and they all vary by industry and use. Below, I’ve provided some basic guidelines that cover the taxes, fees, and […]

Can I Claim The Standard Mileage Deduction For Vehicle Costs?

Recently, the Internal Revenue Service (IRS) announced the new standard mileage rates to deduct vehicle expenses for the 2015 tax year. ¬†The latest rules impact individuals using a vehicle for business, charity, or medical and moving purposes. With the exception of the costs related to business, the standard mileage rates all stayed the same or […]

Year End Tax Planning Strategies For 2014

Many taxpayers often review tax planning strategies after the New Year. Before you say goodbye to 2014, there are several tax savings strategies that you may be able to implement now. If you wait until after December 31st, it will be too late. Harvesting investment losses to offset capital gains Investors can reduce their taxable […]

Are You Getting Enough Value From Your Accountant?

When most of us think about our accountant, filing taxes often comes to mind. However, accountants are trusted advisers that can offer much more to their clients than just preparing tax returns. Recently, we had a chance to speak with Greg Freyman, CPA to learn more about his New York City based accounting practice and […]