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OUR BLOG

We share the latest developments in
the accounting industry & our business.

year-end-tax-saving-strategies-2021

Year-End Tax Saving Strategies 2021

By: Steven J Gamboa With the end of 2021 rapidly approaching, the time has come for year-end tax planning! We’re going to take a look at some tax savings strategies both
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managing-business-meals-and-entertainment-deductions

Managing and Audit Proofing Business Meals & Entertainment Deductions

Business owners of all sizes and tax filing statuses have hoarded receipts and documented client business meals, catered lunches for employees, snacks in the break room, and breakfast pickups on
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partnership-vs-s-corporation-similarities-and-differences

Partnership vs. S Corporation: Similarities and Differences

By: Steven J Gamboa, Staff Accountant & Dolly Rajani, Tax Supervisor When starting out a new business venture, two of the most important aspects to consider are complying with legal
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what-you-need-to-know-about-form-1099

What You Need To Know About 1099 Forms

By Steven Gamboa and Pavan Rajput  Remaining compliant with IRS guidelines and regulations is essential for any individual and business. Forms 1099 play a major role during tax preparation since
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taxation-of-cryptocurrency

Understanding the Taxation of Cryptocurrency in the U.S.

By: Steven Gamboa Over the past decade, cryptocurrency has revolutionized the finance world as it transformed from a textbook concept into a global virtual currency valued at over $1.3 trillion.
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american-rescue-plan-child-tax-credit-2021-explained

American Rescue Plan Child Tax Credit 2021 Explained – What You Need to Know

By: Anthony Warga, Semi-Senior Accountant & Dolly Rajani, Tax Supervisor News about advance IRS payments of the Child Tax Credit, coupled with other changes, has understandably gotten many Americans excited,
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Updates Regarding the $10,200 Unemployment Income Exemption for 2020

By Gregory Bilecki, Senior Accountant On Wednesday, March 24th, the IRS released guidance centered around the $10,200 unemployment income exemption provision per terms of H.R. 1139, more commonly known as
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for-main-street-businesses-ppp-relief-is-now-within-reach

PPP Program Extended Through May 31st

By Gregory Bilecki, Senior Accountant In yet another landmark decision, on Thursday, March 25th, the Senate passed House bill H.R. 1799, also known as the PPP Extension Act of 2021
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NJ, NY, PA Now Following Federal Tax Day Deadline Extension, Now May 17th

NJ, NY, PA Now Following Federal Tax Day Deadline Extension, Now May 17th

By Gregory Bilecki, Senior Accountant In welcome news for the state’s taxpayers, New Jersey has decided to follow the IRS’s decision to extend the federal April 15th tax reporting deadline
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IRS-Extends-Federal-Tax-Day-Filing-Deadline-for-One-Month

IRS Extends Federal Tax Day Filing Deadline for One Month

By Gregory Bilecki, Senior Accountant On Wednesday, March 17th, the IRS pushed back the tax filing deadline for individuals in a nationwide extension, an effort to further drive pandemic related
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