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.
Three Ways to Get Tax Breaks for Home Improvements
Are you planning to make substantial renovations to your home? You may be adding a deck or patio, finishing a basement or attic or installing a pool. Despite some changes in the Tax Cuts and Jobs Act (TCJA) that may discourage [...]
Has the TCJA Lowered Your Taxes?
We now have two years of the Tax Cuts and Jobs Act (TCJA) changes under our belts: 2018 and 2019. Are your taxes lower than before the law went into effect? Not surprisingly, the answer depends on your specific situation. Perception [...]
Start Planning for Tuition with a 529 Plan
By: Gianna Conte, CPA Gianna Conte, CPA is a supervisor in the tax department and has been with Grossman St. Amour CPAs since 2016. Her areas of expertise include income tax return preparation, payroll and sales tax return preparation, financial statement [...]
Five Issues to Consider When Making Charitable Donations
Adam E. Panek, CPA, Partner, leads the tax practice at Grossman St. Amour CPAs. Adam practices in the areas of individual, partnership and corporation tax return preparation and tax planning for individuals and businesses. For more information about charitable donations, or [...]
How to Avoid Underpayment of Estimated Tax Penalty
For guidance on estimated tax payments and withholding, contact Adam Panek, CPA, Tax Partner at [email protected] or call 315.701.6328. You can be subject to penalties if you don’t pay enough tax during the year through estimated tax payments and withholding. Here [...]
Why Roth IRAs are Tax-Smart for Teens
Amelia, 16, is starting her first part-time job this year. Amelia's parents would like to get her to start forming good financial habits and into the habit of saving for the future. So they asked their tax advisor for the most [...]
Scam Alert: Keep Up on the Latest
It's enough to cope with stock market gyrations and other variations of personal finance without having to do battle with a scammer bent on draining your bank account. Forewarned is forearmed, as the saying goes. What you don't want to hear [...]
Effective Retirement Planning Includes Contingencies
Roughly one in five Americans in the workforce believe that "working for pay" will be a major source of their retirement income. This is according to the "2018 Retirement Confidence Survey" produced by the Employee Benefit Research Institute (EBRI). Nearly half [...]
Income Tax Withholding: How to get it right!
Kathleen Kaminski, CPA, Senior Tax Manager talks about one way to have some control over your tax liability. Kathleen practices in the areas of individual, partnership, corporation, fiduciary, and not-for-profit tax return preparation. She engages in tax planning for individuals and [...]
DOL Updates Guidance on Independent Contractor Status
The so-called "gig economy" challenges conventional practices between companies and the people who perform the work. A key question is: Are these workers independent contractors or employees? The U.S. Department of Labor (DOL) recently published a new wage and hour opinion [...]