Long Island accountants cheer end of tax season, return to normal lifeDavid ReichHale
Stop believing everything heard at a cocktail party or from your produce clerk. Having completed our rant, we swim in the grey waters with slivers of white and black. We will provide you with options, arguments and counter-arguments. Ultimately it is your life and your tax return, and as...
The formats of a number of forms are not changing for the 2024 tax year. The forms that are not changing include:W-3 statement W-4 statement W-2 statementIf you choose not to install the 2024 year-end update, you can still apply the 2025 Payroll Tax Update....
December holidays.Depending on the nature of your organization, you’ll lean more or less into the religious side of the holidays. However, you can still capitalize on the general trend toward gift-giving and merry-making. Try posting a wish list of the gifts you want. Tell people what you...
Fiscal year-end is the last day of a company's 12-month accounting period, which is used for financial and tax reporting purposes. If a company has a fiscal year-end that is the same as the calendar year-end, it means that the fiscal year ends on Dec. 31. ...
Related: HRAs Make It Easy to Provide Tax-Free Health Benefits to Your Team Make sure your end-of-year bonus is a discretionary bonus. First, let’s be clear about exactly what we mean when we say that end-of-year bonuses should be “discretionary.” ...
With year's end also being "giving season," many taxpayers give to charities or donate household goods, or even stock, as another way of lowering their tax liability. While this is a standard move, tax pros caution against charitable giving if your only intent is to lower your tax bill....
Navigating the maze of year-end tax documents can be daunting for businesses. Yet, with early preparation, this annual task transforms from a looming challenge into a golden opportunity. By starting ahead, you unlock avenues to save money, alleviate stress, and streamline processes. Let’s dig ...
Reconciling your accounts checks them for accuracy. If you've never reconciled your accounts, or if you don't reconcile them regularly, you should reconcile all of your accounts by the end of the year to prepare for tax season. If you're new to reconciling or have issues,...
Companies preparing for the forthcoming financial reporting season need to consider how economic challenges will affect going concern assumptions, how to ensure climate change disclosures are transparent while monitoring the impact of Pillar Two model rules. It's essential to monitor these changes, alloca...