If you hold foreign bank or financial accounts, or have signature authority over such accounts, and the total value of all your accounts exceeds $10,000 at any time during the calendar year, you may be required to file a Treasury Department report known as the FBAR. It’s […]
Read more →April is a busy month for taxes. Here are filing requirements to keep in mind. 2015 individual income tax returns or an automatic extension. 2015 partnership returns for calendar year partnerships. 2015 income tax returns for calendar year trusts and estates. 2015 annual gift tax returns. 2015 […]
Read more →While retirement plan contribution limits have not increased for 2016, taking full advantage of allowable contributions and any amounts your employer matches is still a good idea. Contributions you make to employer-sponsored retirement plans reduce your taxable income because your employer deducts the amount you specify from […]
Read more →If you own or manage your own business, you’re probably busy monitoring operations and dealing with everyday problems. But there are a few things that you should make time to do every year. These are important for your long-term business and personal success. 1. Review your business […]
Read more →New York City Medical CPA You may be familiar with the old tax rule that let you take an itemized deduction for unreimbursed medical expenses that exceeded 7½% of your adjusted gross income. For 2013 and future years, the income threshold increases to 10% for taxpayers under […]
Read more →NYC Medical Accounting If you paid for medical or dental expenses in 2012, you may be able to get a tax deduction for costs not covered by insurance. The IRS wants you to know these seven facts about claiming the medical and dental expense deduction. You must […]
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