TaxBrief Keeping you informed June 2021

Published June 24, 2021 42599 Views

View PDF  

Read More

Important Changes in 2017 for Filing NY State Tax Returns

Published January 31, 2017 42144 Views

While many have been made aware of the refund delays that are expected to affect millions this year, there is another change that has not been given nearly as much attention. For those who file their own taxes in New York, whether on their own, electronically, or with a professional tax preparation...

Read More

Important Changes and Information on 2016 Tax Return Filings

Published December 27, 2016 20264 Views

Each year the tax code sees a wide spectrum of changes and updates, and the 2016 filing season is no exception. This year the IRS has rolled out a number of  new measures to prevent people from taking advantage of several substantial tax credits.  The 2016 Tax credits affected by these changes inclu...

Read More

Why Call an Enrolled Agent for IRS Tax Assistance

Published November 15, 2016 11924 Views

Many are familiar with the role that accountants and CPAs play in things like tax preparation, bookkeeping and other common accounting services.  However, the term Enrolled Agent might be one that many are new to.  In short, Enrolled Agents are the only federally-licensed tax professionals who speci...

Read More

Was Your Tax Return Accepted by the IRS?

Was Your Tax Return Accepted by the IRS?

Published February 9, 2016 7539 Views

IRS Hardware Failure Sparks Delayed Refund Fears Getting your tax refunds should be pretty straightforward, right? Traditionally, yes, but 2016 is proving to be an exception to the norm. An unexpected shutdown of the IRS tax return processing system, which is believed to have been caused by a har...

Read More

Taxes and Health Insurance Implications

Published December 12, 2014 7810 Views

February 2015 It’s almost that time again! Year-end has snuck up, and in the middle of the hustle and bustle of shopping, wrapping and baking, I’m here to give you something else to think about… The Affordable Care Act (aka Obamacare) and how it will affect filing your taxes this year. Before...

Read More

Employee vs. Contractor

Published December 5, 2014 5395 Views

We get this question often, from both workers and employers... So should this person be treated as a bona fide employee for all legal and tax related purposes, or can I (save money and) treat them as an Independent Contractor?  The IRS has an official 'test', also known as an SS-8 Form that you can...

Read More

The Headache of the Affordable Care Act

Published October 29, 2014 7987 Views

It's time to  give you some important information regarding the Affordable Health Care Act.  This is the law that requires everyone to have health insurance coverage.  It went into effect January 1, 2014.  When we do your tax return, we will be asking you questions about your health insurance.  If y...

Read More

Last Minute Tax Returns in Rochester NY

Published March 12, 2014 5000 Views

With the April 15 tax deadline looming, it's understandable that many individuals and business owners wait until the last days and weeks before filing their taxes.  If you've worked in the Tax & Accounting industry for as long as we have, you begin to notice trends.  One of the most frequently obser...

Read More

Using Tax Software

Published February 7, 2013 7620 Views

It's understandable why so many are a bit hesitant when it comes to tax software.  There's always the fear of making a keystroke error, submitting duplicates, losing connection, and scores of other legitimate concerns.  Still, it's important to remember that the makers of today's most popular person...

Read More

What I Need to Bring to Flower City Tax

Published January 16, 2013 8945 Views

Click Here to Download PDF & Print All taxpayers: Our Mandatory ACA Questionnaire Form 1095-A if purchased through the Health Marketplace Birthdates and SS numbers for dependents W-2’s from all Employers W-2G’s from Gambling Income 1099-MISC for sub-contracting 1099-INT or DIV f...

Read More

Preparer Due Diligence and Earned Income Credit

Published January 16, 2013 17926 Views

As many of you know, there is a very valuable credit available to assist lower income taxpayers to improve their economic standards.  This is the Earned Income Credit or EIC. For tax year 2012, the credit can be as high as $5,891.00 to taxpayers in the "sweet spot" of both income limitations and num...

Read More

IRS Forms to Look for

Published January 16, 2013 7765 Views

W2 Form: This is the one from any employer that you worked for last year. This should be postmarked or available for download by Jan 31st.  No, we can't tell you if you have them all… 1098 Form: From your mortgage or home equity company. Reports your interest paid on your loan. This may also repo...

Read More

Navigating the Maze of Forms

Published January 16, 2013 6623 Views

Every year, I chuckle at the tax-slang that people who aren't in the industry use.  The big one for 2012 was the "Physical Cliff" which always brings a vibrant image to my mind and never ends well.  I have people that ask why they have to fill out a K-9 Form and give someone their SS number. C...

Read More