Industry News 2017-12-11T14:33:28+00:00
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From time to time, Grossman St. Amour CPAs team members address various subject matters in the world of accounting, taxation, business valuation and financial planning. We invite you to review the various articles and presentations to the right.

Should you have a question about or interest in a particular subject matter that is not addressed, please feel free to contact us for information on that specific subject.

May 2017 Compliance Calendar

As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important federal tax reporting and filing data for individuals, businesses and other taxpayers for the month of May [...]

May 9th, 2017|

Tax Refund Offsets May be used Toward Unpaid Debts

 A taxpayer who incurs an unpaid debt may notice a reduction in his or her federal tax refund. The Treasury Offset Program is allowed to use all or part of a taxpayer’s federal refund to settle unpaid federal or state debts, [...]

May 9th, 2017|

Tax Reform Proceeds to Possible Summer Enactment

If you have any questions about tax reform, health care reform or any federal legislative developments, please contact Adam Panek, CPA, Partner at 315.701.6328 or apanek@gsacpas.com. Lawmakers continue to debate comprehensive tax reform, aiming for a package to clear Congress [...]

April 26th, 2017|

How to Maximize Start-up Deductions for a New Business

To ensure you are maximizing the start-up related deduction for a new business, it is important to consider each cost incurred. If you would like assistance in determining the costs that qualify for the start-up cost deduction, please call Adam [...]

April 26th, 2017|

What are Miscellaneous Itemized Deductions?

There are many miscellaneous deductions and a number of very specific rules that may apply to any one. Please contact Elizabeth Gardner, CPA, Tax Manager, if you have questions about claiming the miscellaneous deductions and how they will affect your tax [...]

April 26th, 2017|

Lack of Contemporaneous Written Acknowledgement Nixes Donation

For more information about cash and non-cash charitable donations, contact Theresa M. Morgan, CPA, Tax Supervisor at 315.701.6336 or tmorgan@gsacpas.com.   In a case that provides a lesson to anyone donating property to charity for which a deduction of [...]

April 26th, 2017|

IRS Issues 2017 Inflation-Adjusted Vehicle Depreciation Dollar Limits

For more information about depreciation contact Kathleen Kaminski, CPA at kkaminski@gsacpas.com or 315.701.6422. The IRS has released the inflation-adjusted limitations on depreciation deductions for business-use passenger automobiles, light trucks, and vans first placed in service during calendar year 2017. All limitations are [...]

April 26th, 2017|

Top IRS Tips to Know about the Home Office Deduction

Taxpayers who use their home for business may be able to deduct expenses for the business use of it. Qualified persons can claim the deduction whether they rent or own their home. Use the simplified method or the regular method to [...]

April 10th, 2017|