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Satty, Levine & Ciacco, CPAs, P.C. Blog

How to Create a College Education Savings Plan for your Child

Posted by Tom Hallissey on Jun 12, 2018 10:00:00 AM

The cost of college continues to increase. In fact, tuition at private four-year institutions has increased 129 percent in the last 20 years. In order to meet these rising expenses, every parent needs a college education savings strategy. Depending on your income level, there are different savings options you can choose from, such as a 529 College Plan or a Coverdell Education Savings Account.

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Topics: Insider

How to Save for Retirement without Stress and Anxiety

Posted by Tom Hallissey on May 30, 2018 10:00:00 AM

More and more Americans are now working longer into their golden years. In fact, one in five have no retirement savings at all. Unfortunately, too many of these people never learned how to save for retirement.

Don’t make the same mistake. Learn these tips and tricks today.

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Topics: Insider

Small Business Budgeting Tips you can take to the Bank

Posted by Tom Hallissey on May 16, 2018 10:00:00 AM

While the nuts and bolts of business budgeting can be quite simple, there is more to creating one than simply tallying income and expenses. Successful small businesses typically use a budget as a way to manage costs, set financial goals and create a plan to reach them. If your company is small and growing, now might be the right time to revisit your approach to budgeting.

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Topics: Business Accounting

Estate Tax Returns: Answers to Frequently Asked Questions

Posted by Tom Hallissey on Apr 25, 2018 10:00:00 AM

If you were named the beneficiary of a relative’s will, you probably have a lot of questions about estate taxes. From deadlines to tax rates, these simple explanations will help you navigate a complex situation.

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Topics: Insider

What is the Capital Gains Tax, and how does it Work?

Posted by Tom Hallissey on Apr 11, 2018 10:00:00 AM

The capital gains tax often applies to the sale of assets. If you sell something for more than you spent to acquire it, your sale may be considered a capital gain. If so, you may have to pay taxes on the profits.

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Topics: Business Accounting

IRS Warns Virtual Currency Transactions must be Reported

Posted by Tom Hallissey on Mar 28, 2018 10:00:00 AM

With tax day just weeks away, the IRS has issued a stern reminder that any income from virtual currency transactions must be reported on your tax return. The government views these types of transactions like any other exchange of property. Taxpayers who do not properly report digital currency transactions could face an audit and be held liable for penalties and interest.

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Topics: Insider, Tax Season

5 Things to Know Before Applying for a Business Tax Extension

Posted by Tom Hallissey on Mar 14, 2018 6:00:00 AM

With the tax deadline getting closer and closer, you may not think you will be able to get all your paperwork together in time. But, that’s okay. Almost any company can qualify for a business tax extension just by following a few simple steps.

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Topics: Business Accounting

How to meet the Tax Filing Deadline without Stress

Posted by Tom Hallissey on Feb 27, 2018 10:00:00 AM

Every year, millions of Americans wait until the last-minute to submit their tax returns. As a result, many people undergo unnecessary stress in April. Before the tax filing deadline sneaks up on you again, use these tips to help you submit on time.

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Topics: Tax Season

Professional Advice for how to Maximize Tax Savings

Posted by Tom Hallissey on Feb 13, 2018 10:00:00 AM

Although many Americans simply take the standard deduction, there are many tips and tricks that professional accountants recommend to clients to increase tax savings. From saving for retirement to documenting charitable contributions, these strategies can put more money back in your pocket.

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Topics: Tax Season

How New Legislation Affects the Corporation Tax

Posted by Tom Hallissey on Jan 31, 2018 10:00:00 AM

Late last year, Congress passed the Tax Cuts and Jobs Act to trigger economic growth with changes to the corporation tax. These adjustments to the Federal tax code have the potential to impact businesses of every size. If you own a company on Long Island, you will benefit from getting up to speed on these changes fast.

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Topics: Insider, Business Accounting

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Since 1949, S,L&C has provided professional accounting and business advisory services from New York to California. Now, our blog contains some of the latest news, trends and tips to help you prosper financially.  

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