As accountants, tax season is the busiest time of year for us. Everyone is working hard to provide a smooth tax filing process for each and every client. As important as this work is, we also believe that happy office culture and positive interoffice relationships are crucial pillars of our firm, and a large part of what separates Dermody, Burke & Brown apart from other accounting firms.
As we make our way through tax season it can be confusing trying to keep all the different deadlines straight. We have a solution: a brief and comprehensive overview on what is due when, so you can plan accordingly! It is best to start early, collecting all necessary documents and staying in touch with your accountant to ensure a timely and stress-free tax filing process.
S Corporations & Partnerships
The busiest time of year for accountants is back, and often the same question is being posed to all tax professionals, “Am I missing out on any tax savings?”
The ultimate goal is to reduce taxable income, and maximize available credits. We’ve compiled this list of commonly overlooked ways to reduce your tax liability and keep more money in your pocket.
Dermody, Burke & Brown CPAs is an accounting firm run and operated by a women majority. Listen to what some of our partners and women in leadership roles have to say about how they embrace equity in the firm and in their communities.
This month in honor of Heart Health Awareness, we hosted a Healthy Heart step competition within the firm. Despite the busy time of year and harsh weather, several people participated! To keep everyone on track, we went on group walks, took breaks on our own throughout the day for a stroll, and incentivized with an hour-long massage prize for the winner! On mild days, we walked outside. On colder days, we got creative with our walking locations!
On April 9th, 2022, Governor Kathy Hochul signed the state budget bill, setting significant changes into effect. These changes include adjustments to the New York State Pass-through Entity Tax (PTET) for 2022 and the creation of the New York City PTET, which will start for tax year 2023. We also saw tax cuts for middle class income brackets and extended credit programs to lower income filers.
Recently, we have seen a multitude of governmental changes directed to address many issues in our ever-changing economy. The “Retirement Crisis” is just one of those issues in which legislation has been passed in hopes of better preparing the American workforce for retirement. The SECURE Act (Setting Every Community Up for Retirement Enhancement) was passed in 2019.
After serving as Chief Operating Officer for the last 13 years, Carolyn Sturick has been named Dermody, Burke & Brown's new Chief Executive Officer. Carolyn has been with Dermody, Burke & Brown since 1989, demonstrating leadership and earning the respect of all staff members. As CEO, Carolyn will focus on Dermody Burke & Brown's strategies for growth, client success, staff development, and maintaining relationships vital to a successful firm.
Carolyn replaces Madelyn Hornstein who served in this position since 2010.
We at Dermody, Burke & Brown pride ourselves in utilizing top-of-the-line software that elevates your customer service experience and ensures your sensitive information remains secure! Enter TaxCaddy. This software makes it simple to share everything you need to with your tax professional safely and from the comfort of your home. Learn more about it below!
What Is TaxCaddy?
Given that our government is concerned about American workers leaving the workforce and retiring without enough savings, they have focused their attention on creating legislation to help fix what some call a retirement crisis.
