by Eric Landro | Feb 8, 2023 | Uncategorized
Robert L. Tobey, CPA, Partner Starting in 2022 taxpayers will no longer be allowed to deduct IRC §174 research and development (R&D) expenses in the year incurred. Taxpayers are now required to capitalize these costs as an intangible asset and amortize...
by Eric Landro | Feb 6, 2023 | Uncategorized
Many businesses in certain industries employ individuals who receive tips as part of their compensation. These businesses include restaurants, hotels and salons. Here are some business tax tips for employees who receive tips. Tip definition Tips are optional payments...
by Eric Landro | Feb 3, 2023 | Uncategorized
Robert L. Tobey, CPA, Partner SUMMARY On January 13, 2023, the IRS Chief Counsel Memorandum (CCM) 202302011 was issued, stating that: in the case of a taxpayer that owns cryptocurrency that substantially declined in value, and the taxpayer has not sold or...
by Eric Landro | Feb 2, 2023 | Uncategorized
Is your revocable trust fully funded? A revocable trust — sometimes known as a “living trust” — provides significant benefits. They include the ability to avoid probate of the assets the trust holds and facilitating management of your assets in the event you become...
by Eric Landro | Jan 31, 2023 | Uncategorized
Press Release: Woodbury, New York (January 3, 2023) – Reid CPAs, LLP and Weber Moses & Co. of New York announced a merger effective January 1, 2023. The merger with Weber Moses & Co. further increases Reid CPAs, LLP’s continued growth and strength in the...
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