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INDUSTRY NEWS2021-07-21T17:01:46+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.

2022-2023 Tax Planning Guide Available

Although you can’t avoid taxes, you can take steps to minimize them.  This requires proactive tax planning.  Check out our 2022-2023 Tax Planning Guide and  Contact us to learn how we can help you optimize your financial opportunities. ABOUT GROSSMAN ST. [...]

December 1st, 2022|

Employee Retention Credit-Beware of Third Parties Promoting Improper Claims

by Nicholas A. Ippolito On October 19, 2022, the IRS issued a warning to employers urging them to be cautious of the advice they receive from third party companies regarding the Employee Retention Credit (ERC). The IRS was quoted as saying, [...]

October 31st, 2022|

Are You Taking Advantage of Tax-Free Income Opportunities?

Two things in life are certain: death and taxes. While you can't live forever, there are still some ways to collect tax-free income. Here's a list of common federal-income-tax-free opportunities for individuals. Roth IRA Distributions You may decide to set up [...]

October 25th, 2022|

New Business Travel Per Diem Rates Announced for 2023

Recordkeeping for reimbursing business travel expenses can be cumbersome. Instead of reimbursing employees for the actual costs they incur for out-of-town lodging, meals and incidentals, some employers opt to pay fixed travel per diems. These amounts are based on IRS-approved rates [...]

October 10th, 2022|

The Importance of Earnestly Organizing Documents

The paper trail that follows us throughout our lives includes records that track births, deaths, marriages, divorces and adoptions — among other life changing events.  Personal records also document purchases, investments, assets and home improvements. Keep in mind: The better organized [...]

October 5th, 2022|

Mid-Year Tax Planning Ideas for Individuals

The 2022 tax year is well underway, and year end will be here before you know it. Summer is a good time to take proactive steps to help reduce the current year's tax bill. Here are some federal tax-planning strategies to [...]

August 2nd, 2022|

New COVID-19 Capital Costs Tax Credit Program Announced

(Screening Tool Available Here) Governor Kathy Hochul has announced the opening of the initial intake tool to help small businesses determine their eligibility for the COVID-19 Capital Costs Tax Credit Program.  Announced as part of Governor Hochul’s Executive Budget to continue the [...]

July 1st, 2022|

6 Steps to Help Reduce the Probability of Fraud

Small and medium-sized companies are particularly prone to employee theft because they typically don't have the staff available to assign more than one employee to processes to help ensure that fraud doesn't take place. Assigning more than one employee to certain [...]

June 15th, 2022|
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