INDUSTRY NEWS 2018-02-07T21:17:43+00:00

industry news

Grossman St. Amour CPAs team members address relevant subject matters in the world of accounting, taxation, business valuation and financial planning.  We invite you to review the various industry articles below.   Should you have a question about or interest in a particular subject matter, please contact us.

The 2017 Tax Cuts and Jobs Act

The 2017 Tax Cuts and Jobs Act has changed the tax law for 2018.  As a result, the 2018 federal income tax withholding tables have also changed.   Unfortunately, we have found that the new tax withholding tables are not always withholding [...]

February 22nd, 2018|

It’s Tax Returns Preparation Time

It's Tax Time!  Have you scheduled your tax appointment?   Contact our office today and schedule your appointment.   Call main reception at 315.424.1120 or Tammy Kiesa at 315.701.6350 or tkiesa@gsacpas.com.    Let our professionals optimize your financial opportunities for you!  

February 6th, 2018|

Top 10 Tax Developments with Impact on 2018

The start of a New Year presents a time to reflect on the past 12 months and, based on what has gone before, predict what may happen next. Here is a list of the top 10 developments from 2017 that may [...]

January 18th, 2018|

Standard Mileage Rates for 2018 Up from Rates for 2017

The Internal Revenue Service today issued the 2018 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2018, the standard mileage rates for the use [...]

December 14th, 2017|

The Equifax Breach – 5 Steps to Help Protect Your Identity

As you've likely already seen and heard plenty of news regarding the recent Equifax data breach, we've put together a summary of key information and steps you should take to protect your identity and minimize your chances of being a victim [...]

September 20th, 2017|

What is “Assignment of Income” Under the Tax Law?

Gross income is taxed to the individual who earns it or to owner of property that generates the income. Under the so-called “assignment of income doctrine,” a taxpayer may not avoid tax by assigning the right to income to another. Gross [...]

September 13th, 2017|

How do I Distinguish Partnerships From Other Arrangements?

A partnership is created when persons join together with the intent to conduct unincorporated venture and share profits. Intent is determined from facts and circumstances, including the division of profits and losses, the ownership of capital, the conduct of parties, and [...]

September 13th, 2017|

Don’t Overlook Child-Related Deductions and Credits

Parents incur a variety of expenses associated with children. As a general rule, personal expenditures are not deductible. However, there are several deductions and credits that help defray some of the costs associated with raising children, including some costs related to [...]

September 13th, 2017|