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.
Tax Reform Hurts Homeowners, House Democratic Report Says
Homeowners will be hurt financially by last year’s tax reform, according to a new House Democratic staff report. The report alleges that real estate developers will primarily benefit from the new tax law at the expense of homeowners. The Democratic staff [...]
Trump, House GOP Lawmakers Discuss Tax Cuts 2.0
President Donald Trump and House GOP tax writers discussed "Tax Cuts 2.0" in a July 17 meeting at the White House. The next round of tax cuts will focus primarily on the individual side of the tax code, both Trump and House Ways [...]
Understanding the new Sec. 199A business income deduction
The Tax Cuts and Jobs Act brought the biggest changes to both individual and corporate taxes seen in the past 30 years. Included in those changes was IRC Section 199A, which is a new section of the tax code that introduces [...]
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 [...]
Five Things to Remember About Exemptions & Dependents for Tax Year 2017
Adam E. Panek, CPA Most taxpayers can claim one personal exemption for themselves and, if married, one for their spouse. This helps reduce their taxable income on their 2017 tax return. They may also be able to claim an [...]
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 [email protected]. Let our professionals optimize your financial opportunities for you!
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 [...]
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 [...]
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 [...]
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 [...]