Bulletins and Alerts

March 2008:
Review of the Economic Stimulus Act of 2008
On February 13, 2008, President Bush signed the Economic Stimulus Act of 2008 into law. The law was passed in response to the anticipated recession as well as the subprime mortgage crisis. The aim of this bill is to increase consumer and business spending as well as provide relief for the victims of the subprime mortgage crisis

December 2007:
Start Your Business: 7 Things Every
New Business Owner Should Consider
Hundreds of thousands of new businesses are started in the United States every year. Most begin with good ideas and real passion, but what many are lacking is a thorough examination of the essentials that make a business work. This Bulletin identifies key factors that can make a profound difference.

December 2007:
An Education About College Funding
This year my family has faced a big change—the kind of change that every family with children is eventually going to face. Our oldest daughter went off to college. Our dilemma: how were we going to cover the costs in the most effective way possible?

December 2007:
Seven Reasons for a Business Valuation
What is your business worth right now? You may not have much of a clue—after all, if you're not advertising your business for sale, what's the difference? Plenty, as this Bulletin reveals.

September 2007:
Roundup of New Small Business Changes
The new Small Business and Work Opportunity Tax Act of 2007 is more than a package of tax breaks for small businesses. It also includes several revenue-raisers that could have a significant impact on individuals.

May 2007:
Why Put Off Until Tomorrow:
The Latest on Deferred Compensation
Deferred compensation works well as a means to reward key employees. It can also have certain benefits for business owners of various stripes. However, Section 409A of the Internal Revenue Code has muddied the waters a bit. This Bulletin covers the highlights.

March 2007:
Have Your Cake, Eat It and Leave Some for the Next Guy:
Strategies for Maximizing Gifts to Your Heirs
In the world of financial planning, few things are “no-brainers.” However, there’s one strategy that we have found consistently useful.  If you want to ensure that your heirs get the maximum benefit from an asset you intend to leave them, consider forming a Grantor Retained Annuity Trust (GRAT).

March 2007:
Overview of Key New Law Provisions
The Tax Benefits of Being a "Homebody" ... Avoiding the New Crackdown Private Annuities ... Business Connection to Telephone Tax Refunds ... Watch What You Say In Company Manuals ... Facts and Figures.

January 2007:
Button, Button—The Hidden Tax Breaks of 2006
As the 109th Congress was hurrying out the door, it took the time to pass just a few pieces of legislation. One of the most significant of these is the Tax Relief and Health Care Act of 2006. Here is a quick guide to the act and how it might impact your tax liability.

September 2006:
The Window of Opportunity is Open
Ever since Roth IRAs were created, high income taxpayers have been shut out of the game. Although that has not changed, recent legislation allows just about anyone to convert a standard IRA to a Roth IRA in 2010.

July 2006:
The Long View on Long-Term Care
With Americans living longer than ever before, more and more of us are
confronted with the possibility that we will outlive our money. For the past forty years, Medicare and Medicaid have picked up much of the slack. Changes to the tax laws over the past few years will now prevent many families from relying on this safety net.

June 2006:
Taxing Matters
Even its name is a mouthful: “The Tax Increase Prevention and Reconciliation Act” (TIPRA). But what does this massive piece of legislation, approved in May by both houses of Congress, mean to you?

June 2006:
Seven Tax-Planning Ideas at Midyear
Independent Contractors: Get Agreements in Writing ... How to Bridge the Communication Gap ... Like-Kind Swaps of Intellectual Property ... Using Benchmarking For Your Business ... Facts and Figures.

April 2006:
Financial Planning 101: How to Choose a Financial Planner
Did your most recent tax returns make you want to consider a more proactive approach to financial planning? Getting a financial plan drawn up by a qualified planner can save you many headaches and give you peace of mind.

April 2006:
How Long Should You Keep It?
It fills up folders, even drawers. Maybe you have it in boxes. However you organize it, both the law and self-preservation suggest that you should hang onto it for awhile. This is a handy guide to how long you need to keep most types of personal financial information.

April 2006:
Teeth in the New York State Tax Law
Dentists, oral surgeons, prosthodontists and other oral health care
professionals practicing in New York State will notice some changes to their tax pictures, due to a March 20, 2006 ruling from the New York State Department of Taxation and Finance. The ruling, a reinterpretation of longstanding tax law, redefines what is—and is not—subject to state sales tax.

March 2006:
When Shouldn’t You Respond to the IRS?
As CPAs, we are always advising clients to respond to IRS notices as quickly as possible or, better yet, to bring them in and let us do it. But there is at least one instance when you should ignore a communication that seems to be from the IRS: when it’s an email.

March 2006:
How to "Cash In" on Charitable Deductions
Can You Protect Your Business Reputation ... Estate Tax Changes On the Horizon ... Telecommuters: Watch Out For This Tax Pothole ... New Effort Aimed at Taxing Online Sales ... Facts and Figures.

2006:
The [Tax] Monster Under the Bed
Perhaps one of the most dreaded phrases in the United States is “IRS Audit.” But just how likely is an audit? Figures released as part of the IRS Data Book for fiscal year 2005 show that the chances of being audited went up for taxpayers in most categories, but that they’re still not significant.

December 2005:
Eight Key Deductions for Landlords to Latch Onto
New Concerns for Employers About ID Theft ... Biweekly Mortgages: The Numbers Game ... How to Inspire Your Part-timers ... IRS Boosts the Standard Mileage Rate.

September 2005:
Do You Know What Happens to the Estate Plans You Create?
You might have to struggle to get your clients to update their estates in the first place. Then there’s all the work that goes into creating air-tight documents of all sorts. But in spite of your best efforts, your client—and his or her designated beneficiaries—may still not be protected from exposure to even some of the most mundane risks. Why?

September 2005:
Leave Your Estate to Your Heirs, Not to Chance
Nobody likes to think about the grim eventuality of death; it just isn’t any fun. So most people tend to complete their wills and forget about them. This is a big mistake. Having an out-of-date will, estate plan or trust can cost you—and your heirs—plenty.

Tax Planning: A Year-Round Activity
(but it’s not too late to start now):
Most of us have an aversion to thinking about taxes. Even if we see value in government and the services it provides there is a certain amount of resentment to the idea that we are required to hand over a rather substantial chunk of our earnings to someone else. Unfortunately, it’s important to think about taxes if we are to minimize the impact of something we dislike even more: paying them.