Tax Scams to Watch Out For in 2018

(Feb, 2018)

It is everyone's favorite time of year again, tax filing season. You gather up your tax documents, send them to your trusted tax professional, and wait for confirmation that your tax return has been filed. Then, you notice a refund in your bank account that does not seem right. Someone claiming to be an IRS representative leaves a message saying your refund was erroneous, demanding you return the refund to them.

The New Audit Regime

(Feb, 2018)

On November 2, 2015 “The Bipartisan Budget Act of 2015” (BBA) was signed into law by then President Obama. As part of this legislation the existing rules for auditing large partnerships were changed and replaced with new rules that went into effect January 1, 2018. 

Beyond the Numbers: Kyle Unser

(Feb, 2018)

Kyle Unser recently joined Dermody, Burke & Brown as an Associate in the New Hartford office.

He received a Bachelor of Science degree in Accounting and is in the process of completing his Master’s degree in Accounting from SUNY Polytechnic Institute. Prior to joining the Firm, Kyle worked as an intern at Dermody, Burke & Brown in the New Hartford office. He is working to complete the certification process to earn his designation as a Certified Public Accountant (CPA). Kyle resides in Frankfort, New York.

2018 Will be a Busy Year for Not-for-Profit Organizations

(Feb, 2018)

If your organization has a December 31st year-end, thoughts (or nightmares) of your upcoming financial statement audit and IRS Form 990 filing can’t be too far away.  For many CFOs the workpaper preparation process has already begun.  Also, if your organization is required to submit a Consolidated Fiscal Report to New York State, then there’s that May 30th extended due date looming as well.

CPA Client Bulletin - February 2018

The Tax Cuts and Jobs Act Impact on Business Taxes

(Jan, 2018)

The Tax Cuts and Jobs Act signed by President Trump on December 22, 2017 is the largest tax overhaul our nation has seen since 1986.  Due to the speed with which this was pushed through Congress most changes, but not all, will go into effect in 2018.  Many of the business tax provisions, but not all, were made permanent.  Listed below are summaries of some of the major business tax provisions that were changed by The Tax Cuts and Jobs Act. 

Corporate Tax Rates

The Tax Cuts and Jobs Act Impact on Individual Taxes

(Jan, 2018)

The Tax Cuts and Jobs Act signed by President Trump on December 22, 2017 is the largest tax overhaul our nation has seen since 1986.  Due to the speed with which this was pushed through Congress most changes, but not all, will go into effect in 2018.  Many of the individual tax provisions are temporary, and after 2025 will revert back to the rules in place in 2017 unless extended, revised, or made permanent.  Listed below are summaries of some of the major individual tax provisions that were changed by The Tax Cuts and Jobs Act.

Tax Rates

Beyond the Numbers: Scott Curry

(Jan, 2018)

Scott Curry recently joined Dermody, Burke & Brown as an Associate in both the Tax and Auditing & Accounting departments.

CPA Client Bulletin - January 2018

CPA Client Tax Letter - January/February/March 2018

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