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.
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 2017 Tax 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 September [...]
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 [...]
Social Security Wage Base and Per-Diem Travel Rates Likely to Rise
Around this time of year, key inflation-adjusted amounts are set for the coming year. For some of these amounts, there are “hints” at what final numbers may look like. Such is the case for predicting for 2018 to Social Security [...]
Divorce and Business Assets: What you Need to Know
Divorce can be challenging, stressful, and wrought with emotion. In circumstances where one or both spouses have business interests to protect, it can also be complicated. Read on for this insightful look at navigating through this complex issue.https://www.cnybj.com/divorce-and-business-assets-what-you-need-to-know/
Don’t Take the Bait, Step 6: Watch Out for the W-2 Email Scam
WASHINGTON – The IRS, state tax agencies and the tax industry today urged tax professionals and businesses to beware of a recent increase in email scams targeting employee Forms W-2.The W-2 scam – called a business email compromise or BEC – [...]
August 2017 Tax 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 tax reporting and filing data for individuals, businesses and other taxpayers for the month of August 2017. [...]
Trump’s FY 2018 Budget Outlines Tax Reform Proposals
Since taking office in January, President Trump has called for comprehensive tax reform. The President’s recently released fiscal year (FY) 2018 outlines some of his key tax reform principles. At the same time, White House officials said that more tax reform [...]
Debate Over Health Care & Taxes Moves to Senate
The future of the Affordable Care Act and its associated taxes has moved to the Senate following passage of the American Health Care Act (AHCA) in the House in April. Traditionally, legislation moves more slowly in the Senate than in the [...]
Business Meals & Entertainment: How to Maximize Tax Deductions
Many businesses consider the occasional wining and dining of customers and clients just to stay in touch with them to be a necessary cost of doing business. The same goes for taking business associates or even employees out to lunch once [...]