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Topic: Tax

SALT Deduction Limit: Avoiding the $10,000 Federal Limitation in New York
By Don Warrant, CPA on September 17, 2021

SALT Deduction Limit: Avoiding the $10,000 Federal Limitation in New York Effective for tax years beginning on or after January 1, 2021, The New York State pass-through entity tax (PTET)...

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The “NEW” York Pass-Through Entity Tax Election

The New York PTET May Help to Circumvent the $10,000 Federal Itemized Deduction Limitation for State and Local Taxes. The New York State 2021-22 budget bill included a new Pass-Through...

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Driving Innovation and Investments With R&D Tax Credits
By Freed Maxick Tax Team on June 17, 2021

As a business owner, you recognize the importance of continuous investment in your business to stay ahead of the competition. But, as the business landscape becomes increasingly...

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New York State to Conform to Federal Rules and Not Tax Forgivable PPP Loans
By Richard J. Wright, Jr. CPA on January 15, 2021

In a surprising announcement, New York State has provided updated guidance that they will now conform and adopt the federal rule contained within the CARES ACT and not tax forgivable PPP...

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Unemployment Insurance Benefits in NYS Under the CARES Act
By Julie Becht on April 20, 2020

In response to the Coronavirus Pandemic, on March 27, 2020, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion stimulus bill. The Relief...

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CARES Act Provides Technical Amendment to Qualified Improvement Property
By Don Warrant, CPA on April 10, 2020

Bonus Depreciation Creates an Opportunity, but Requires an Overall Tax Analysis The 2017 Tax Cuts and Jobs Act (“TCJA”)...

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