New York State issues guidance on decoupling

Many of federal changes associated with the Tax Cuts and Jobs Act (TCJA) will flow-through to state tax returns. However, although federal adjusted gross income is used as a starting point, a state can decide not follow (or “decouple” from) the federal law. New York...

Tax reform – impact on individual tax payers

The Tax Cuts and Jobs Act of 2017 (TCJA) was signed into law on December 22, 2017. It represents the most extensive tax legislation in over 30 years. Here is a summary of some of the key changes affecting individual taxpayers. Most of which take effect for 2018 and...

Filing past due returns

If you have not filed or missed a deadline, what is the best way to handle the filing of delinquent returns. www.irs.gov/businesses/small-businesses-self-employed/filing-past-due-tax-returns    ...

2019 mileage rates

The Internal Revenue Service today issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. IRS issues standard mileage rates for 2019 IR-2018-251, December...