In the News

Tax Developments for 4th Quarter 2011: Jan-09-2012 — Key developments in the 4th Quarter of 2011
Wage Theft Prevention Act: Dec-12-2011 — New York State Wage Threft Prevention Act
Tax Developments for 3rd Quarter 2011: Nov-07-2011 — Key developments in the 3rd quarter of 2011
Available Tax Benefits for Fixed Assets Acquired by December 31, 2011: Oct-01-2011 — Potential tax beneftis available for qualifying fixed asset acquistions by December 31, 2011
Updating Beneficiary Designations: Aug-12-2011 — The importance of updating beneficiary designations
IRS Increases Mileage Rates In July 2011: Jul-22-2011 — The IRS increased mileage rates for the final six months of 2011.
Foreign Financial Account Reporting: Jun-17-2011 — A FBAR filing is required if the aggregate value of all foreign accounts exceeds $10,000.
Tax Law Changes in the 4th Quarter 2010: Jan-31-2011 — Key developments in the fourth quarter of 2010.
Estate and Gift Tax Changes: Jan-31-2011 — Estate and gift tax changes in the 2010 Tax Relief Act.
Overview of the tax provisions in the 2010 Tax Relief Act: Dec-20-2010 — Key elements of the package.
Record Retention of Personal Income Tax Records: Dec-14-2010 — Guidance on how long you should retain your personal income tax records.
Federal Tax Deposit Rules Eliminating Paper Coupon: Dec-03-2010 — As of 1/1/2011, you will no longer be able to use a paper coupon Form 8109 to deposit federal taxes directly to an authorized bank.
The Bush Tax Cuts and the Economy: Nov-09-2010 — An examination of the Bush tax cuts in the context of the current and long-term economic and budgetary environment.
Key business changes in the Small Business Jobs Act: Oct-05-2010 — Tax breaks and incentives for businesses.
Proposed changes to bring leases on the balance sheet: Sep-21-2010 — Proposed changes to lease accounting.
Comments on Private Company guidance highlight broad concerns: Sep-21-2010 — Accountants have begun to submit comments regarding issues private companies have dealing with complex GAAP standards.
Tax Planning for 2010: Jul-15-2010 — Tax Planning ideas to consider for 2010.
Federal Tax Provisions Expiring 2009-2012: May-21-2010 — Selected Federal Tax Provisions Expiring 2009-2012
Tax Developments for 1st Quarter 2010: Apr-20-2010 — Key Tax Developments for the first quarter of 2010.
Small Business Changes in the 2010 Health Reform Legislation: Mar-29-2010 — Tax changes affecting small business in the 2010 health reform legislation.
Employer Requirements in the 2010 Health Reform Legislation: Mar-29-2010 — Employer requirements to offer coverage in the 2010 health reform legislation.
Higher Medicare Taxes in the 2010 Health Reform Legislation: Mar-29-2010 — Higher Medicare taxes on high-income taxpayers in the 2010 Health Reform Legislation and other changes affecting individuals.
Tax Break for Contributions to Haiti Earthquake Relief: Jan-26-2010 — New Tax Break for Contributions to Haiti Earthquake Relief
Roth IRA Conversions: A Critical Decision for 2010: Dec-22-2009 — Ideal time to consider converting your traditional IRA to a Roth IRA.
Drop in Mileage Rates for 2010: Dec-10-2009 — Standard Mileage Rates fro 2010 are 50 cents per mile.
Senate Democrats Release Healthcare Reform Legislation: Nov-20-2009 — Healthcare reform package
Worker, Homeownership and Business Assistance Act of 2009: Nov-13-2009 — The law contains a nuymber of tax changes that impact individuals and businesses.
Opportunities from Post 2009 Roth IRA Rollovers: Nov-10-2009 — Suspension of required minimum distribution rules and rollover from traditional to Roth IRAs.
FASB Accounting Standards Codification: Sep-03-2009 — Statement No. 168 - FASB Accounting Standards Codification.
Cash for Clunkers: Jun-23-2009 — Cash incentives for individuals and businesses to trade in older gas-hogging vehicles for new, more fuel-efficient ones.
Federal Tax Credits For Energy Efficient Investments: May-29-2009 — The Department of Energy, through the Energy Star Program provides information for various credit programs.
Recent Changes to New York State's Empire Zone Program: Apr-23-2009 — Legislative changes have been made to New York State Tax Law and the General Municipal Law.
FASB project to get under way on interpreting FIN 48 for private entities: Apr-09-2009 — The FASB plans to take up a proposed project to amend FIN No. 48 for private entities.
FASB approves moving fair value, impairment proposals to final FSPs: Apr-06-2009 — FASB's current thinking on determining the fair value of an instrument that has stopped trading in an open market.
New York State 2009-10 Budget Agreement: Mar-31-2009 — On March 29, 2009, New York State Governor and Legislative Leaders announced a budget agreement designed to close the largest budget gap in state history.
IRS Provides Detailed Tax Guidance for Victims of Madoff-type Investment Schemes: Mar-27-2009 — IRS has issued comprehensive guidance for the many investors caught in Madoff's notorious Ponzi-style fraud.
Small Businesses Can Use the New Longer NOL Carryback to Achieve Maximum Tax Savings: Mar-20-2009 — Small businesses can use the new longer NOL carryback to achieve maximum tax savings.
Employers Claim a Credit for New COBRA Premium Subsidy: Mar-20-2009 — Employers can now claim a credit for new COBRA continuation premium subsidy due to the Recovery Act of 2009.
Brief Analysis of President Obama's FY 2010 Budget: Mar-06-2009 — A summary of major tax initiatives that the Administration will push for regarding tax changes for Businesses and Higher Income Individuals.
Summary of American Recovery and Reinvestment Act of 2009: Feb-24-2009 — Summary of Revenue impact of various provisions of the American Recovery and Reinvestment Act of 2009 in a table format.
Tax and Estate Planning in Challenging Economic Times: Feb-20-2009 — Interest rates have dropped significantly in recent months. Lower rates have a significant impact on many tax and estate planning strategies.
American Recovery and Reinvestment Tax Act of 2009: Jan-29-2009 — Full Summary of the American Recovery and Reinvestment Act of 2009
Drop in Mileage Rates for 2009: Jan-12-2009 — Standard Mileage Rates for 2009 are 55 cents per mile.
Emergency Economic Stabilization Act: Dec-29-2008 — Personal and Business Tax changes as a result of the Emergency Economic Stabilization Act of 2008
Substantiating and reporting charitable contributions: Nov-14-2008 — Substantiation and reporting requirements for charitable contributions.
Harvest Tax Losses: Oct-21-2008 — Losses in excess of current year gains are carried forward.
Advice on Surviving the Credit Crisis by AICPA Private Companies Practice Section (PCPS): Oct-17-2008 — The AICPA Private Companies Practice Section (PCPS) has put together information on the insights into how to avoid missteps and protect your businesses and investments.
0% Capital Gains and Qualified Dividends in 2008 for Qualifying Taxpayers: Sep-23-2008 — 0% Capital Gains and Qualified Dividends in 2008 for Qualifying Taxpayers
SEC Moving Forward with IFRS Roadmap: Sep-04-2008 — The SEC decided yesterday that it will issue a proposed roadmap for the adoption of International Financial Reporting Standards.
Compiling Important Records: Aug-05-2008 — As your personal, financial, and legal records have grown in volume and importance over the years, the task of organizing such documents may seem overwhelming.
Housing Act Tax Changes: Aug-04-2008 — American Housing Rescue and Foreclosure Prevention Act of 2008
FASB Statement 157 & 159: May-05-2008 — Two accounting pronouncements issued by the Financial Accounting Standards Board became effective to calendar year entities, Statement No. 157, Fair Value Measurements, and Statement No. 159, The Fair Value Option for Financial Assets and Financial Liabilities.
Economic Stimulus Act of 2008: Feb-18-2008 — Economic Stimulus Act of 2008 - Cash rebate provisions.
Gift Tax for 2007: Oct-19-2007 — For 2007, each taxpayer is allowed to make gifts of up to $12,000 to each recipient before they incur any adverse tax impact.
Business Incentives in the Economic Stimulus Act of 2008: Sep-05-2007 — Congress recently passed an economic stimulus package (the Economic Stimulus Act of 2008) which is intended to jump-start our economy, in part through tax incentives aimed at encouraging businesses to increase their investments in new equipment by the end of 2008.

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	Home People Dennis J. Szymkowiak, CPA Daniel J. Suhr, CPA Todd M. Scherrer, CPA Diane M. Wiktorowski, CPA Steven G. Austin, CPA Services Structural and Transactional Tax Planning Tax Compliance Services Accounting for Income Taxes High Net-Worth Family Consulting Executive Tax Services Accounting and Auditing Services Corporate Governance Services Mergers and Acquisitions (M&A) Due Diligence Services Financial Reporting Compliance Services Careers News Tax Developments for 4th Quarter 2011 Wage Theft Prevention Act Tax Developments for 3rd Quarter 2011 Available Tax Benefits for Fixed Assets Acquired by December 31, 2011 Updating Beneficiary Designations IRS Increases Mileage Rates in July 2011 Foreign Financial Account Reporting Tax Law Changes in the 4th Quarter 2010 Estate and Gift Tax Changes Overview of the tax provisions in the 2010 Tax Relief Act 45 more items... Location Contact Us Activities Habitat for Humanity April 2009 August 2008 Catamaran Ride Henzler Completes Book Drive	Home > News In the News Tax Developments for 4th Quarter 2011 Jan-09-2012 — Key developments in the 4th Quarter of 2011 Wage Theft Prevention Act Dec-12-2011 — New York State Wage Threft Prevention Act Tax Developments for 3rd Quarter 2011 Nov-07-2011 — Key developments in the 3rd quarter of 2011 Available Tax Benefits for Fixed Assets Acquired by December 31, 2011 Oct-01-2011 — Potential tax beneftis available for qualifying fixed asset acquistions by December 31, 2011 Updating Beneficiary Designations Aug-12-2011 — The importance of updating beneficiary designations IRS Increases Mileage Rates In July 2011 Jul-22-2011 — The IRS increased mileage rates for the final six months of 2011. Foreign Financial Account Reporting Jun-17-2011 — A FBAR filing is required if the aggregate value of all foreign accounts exceeds $10,000. Tax Law Changes in the 4th Quarter 2010 Jan-31-2011 — Key developments in the fourth quarter of 2010. Estate and Gift Tax Changes Jan-31-2011 — Estate and gift tax changes in the 2010 Tax Relief Act. Overview of the tax provisions in the 2010 Tax Relief Act Dec-20-2010 — Key elements of the package. Record Retention of Personal Income Tax Records Dec-14-2010 — Guidance on how long you should retain your personal income tax records. Federal Tax Deposit Rules Eliminating Paper Coupon Dec-03-2010 — As of 1/1/2011, you will no longer be able to use a paper coupon Form 8109 to deposit federal taxes directly to an authorized bank. The Bush Tax Cuts and the Economy Nov-09-2010 — An examination of the Bush tax cuts in the context of the current and long-term economic and budgetary environment. Key business changes in the Small Business Jobs Act Oct-05-2010 — Tax breaks and incentives for businesses. Proposed changes to bring leases on the balance sheet Sep-21-2010 — Proposed changes to lease accounting. Comments on Private Company guidance highlight broad concerns Sep-21-2010 — Accountants have begun to submit comments regarding issues private companies have dealing with complex GAAP standards. Tax Planning for 2010 Jul-15-2010 — Tax Planning ideas to consider for 2010. Federal Tax Provisions Expiring 2009-2012 May-21-2010 — Selected Federal Tax Provisions Expiring 2009-2012 Tax Developments for 1st Quarter 2010 Apr-20-2010 — Key Tax Developments for the first quarter of 2010. Small Business Changes in the 2010 Health Reform Legislation Mar-29-2010 — Tax changes affecting small business in the 2010 health reform legislation. Employer Requirements in the 2010 Health Reform Legislation Mar-29-2010 — Employer requirements to offer coverage in the 2010 health reform legislation. Higher Medicare Taxes in the 2010 Health Reform Legislation Mar-29-2010 — Higher Medicare taxes on high-income taxpayers in the 2010 Health Reform Legislation and other changes affecting individuals. Tax Break for Contributions to Haiti Earthquake Relief Jan-26-2010 — New Tax Break for Contributions to Haiti Earthquake Relief Roth IRA Conversions: A Critical Decision for 2010 Dec-22-2009 — Ideal time to consider converting your traditional IRA to a Roth IRA. Drop in Mileage Rates for 2010 Dec-10-2009 — Standard Mileage Rates fro 2010 are 50 cents per mile. Senate Democrats Release Healthcare Reform Legislation Nov-20-2009 — Healthcare reform package Worker, Homeownership and Business Assistance Act of 2009 Nov-13-2009 — The law contains a nuymber of tax changes that impact individuals and businesses. Opportunities from Post 2009 Roth IRA Rollovers Nov-10-2009 — Suspension of required minimum distribution rules and rollover from traditional to Roth IRAs. FASB Accounting Standards Codification Sep-03-2009 — Statement No. 168 - FASB Accounting Standards Codification. Cash for Clunkers Jun-23-2009 — Cash incentives for individuals and businesses to trade in older gas-hogging vehicles for new, more fuel-efficient ones. Federal Tax Credits For Energy Efficient Investments May-29-2009 — The Department of Energy, through the Energy Star Program provides information for various credit programs. Recent Changes to New York State's Empire Zone Program Apr-23-2009 — Legislative changes have been made to New York State Tax Law and the General Municipal Law. FASB project to get under way on interpreting FIN 48 for private entities Apr-09-2009 — The FASB plans to take up a proposed project to amend FIN No. 48 for private entities. FASB approves moving fair value, impairment proposals to final FSPs Apr-06-2009 — FASB's current thinking on determining the fair value of an instrument that has stopped trading in an open market. New York State 2009-10 Budget Agreement Mar-31-2009 — On March 29, 2009, New York State Governor and Legislative Leaders announced a budget agreement designed to close the largest budget gap in state history. IRS Provides Detailed Tax Guidance for Victims of Madoff-type Investment Schemes Mar-27-2009 — IRS has issued comprehensive guidance for the many investors caught in Madoff's notorious Ponzi-style fraud. Small Businesses Can Use the New Longer NOL Carryback to Achieve Maximum Tax Savings Mar-20-2009 — Small businesses can use the new longer NOL carryback to achieve maximum tax savings. Employers Claim a Credit for New COBRA Premium Subsidy Mar-20-2009 — Employers can now claim a credit for new COBRA continuation premium subsidy due to the Recovery Act of 2009. Brief Analysis of President Obama's FY 2010 Budget Mar-06-2009 — A summary of major tax initiatives that the Administration will push for regarding tax changes for Businesses and Higher Income Individuals. Summary of American Recovery and Reinvestment Act of 2009 Feb-24-2009 — Summary of Revenue impact of various provisions of the American Recovery and Reinvestment Act of 2009 in a table format. Tax and Estate Planning in Challenging Economic Times Feb-20-2009 — Interest rates have dropped significantly in recent months. Lower rates have a significant impact on many tax and estate planning strategies. American Recovery and Reinvestment Tax Act of 2009 Jan-29-2009 — Full Summary of the American Recovery and Reinvestment Act of 2009 Drop in Mileage Rates for 2009 Jan-12-2009 — Standard Mileage Rates for 2009 are 55 cents per mile. Emergency Economic Stabilization Act Dec-29-2008 — Personal and Business Tax changes as a result of the Emergency Economic Stabilization Act of 2008 Substantiating and reporting charitable contributions Nov-14-2008 — Substantiation and reporting requirements for charitable contributions. Harvest Tax Losses Oct-21-2008 — Losses in excess of current year gains are carried forward. Advice on Surviving the Credit Crisis by AICPA Private Companies Practice Section (PCPS) Oct-17-2008 — The AICPA Private Companies Practice Section (PCPS) has put together information on the insights into how to avoid missteps and protect your businesses and investments. 0% Capital Gains and Qualified Dividends in 2008 for Qualifying Taxpayers Sep-23-2008 — 0% Capital Gains and Qualified Dividends in 2008 for Qualifying Taxpayers SEC Moving Forward with IFRS Roadmap Sep-04-2008 — The SEC decided yesterday that it will issue a proposed roadmap for the adoption of International Financial Reporting Standards. Compiling Important Records Aug-05-2008 — As your personal, financial, and legal records have grown in volume and importance over the years, the task of organizing such documents may seem overwhelming. Housing Act Tax Changes Aug-04-2008 — American Housing Rescue and Foreclosure Prevention Act of 2008 FASB Statement 157 & 159 May-05-2008 — Two accounting pronouncements issued by the Financial Accounting Standards Board became effective to calendar year entities, Statement No. 157, Fair Value Measurements, and Statement No. 159, The Fair Value Option for Financial Assets and Financial Liabilities. Economic Stimulus Act of 2008 Feb-18-2008 — Economic Stimulus Act of 2008 - Cash rebate provisions. Gift Tax for 2007 Oct-19-2007 — For 2007, each taxpayer is allowed to make gifts of up to $12,000 to each recipient before they incur any adverse tax impact. Business Incentives in the Economic Stimulus Act of 2008 Sep-05-2007 — Congress recently passed an economic stimulus package (the Economic Stimulus Act of 2008) which is intended to jump-start our economy, in part through tax incentives aimed at encouraging businesses to increase their investments in new equipment by the end of 2008.
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