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

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: Business Accounting, Insider

2017 Federal Income Tax Brackets: What you need to Know

Posted by Tom Hallissey on Jan 17, 2018 10:00:00 AM

In order to prevent people from being pushed into higher federal income tax brackets because of inflation, the IRS adjusts more than 40 tax provisions every year, including income thresholds, deduction amounts and credit values.

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Topics: Tax Season

5 Tax Questions to Ask Before Hiring an Accountant

Posted by Tom Hallissey on Dec 27, 2017 10:00:00 AM

One of the most important choices your business can make is choosing an accountant. In order to find the right match, you must be prepared. If you are in search of a new accounting firm for tax season, asking these five tax questions will give you the answers you need to make a smart decision.

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Topics: Business Accounting

About Our Blog

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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