Robert Gratalo, CPA, MST

Your business is important, and your accountant should see it that way. Tax season is a busy time for everyone, but that doesn’t mean that your accountant should leave you in the dust. At Alloy Silverstein, our team has a “Client Bill of Rights” - meaning that all phone calls, emails, and other inquiries will be responded to the same day or prior to 10:00 AM the following business day. Don’t chase your accountant - visit our website below to contact an Alloy Silverstein advisor today. #AlloySilverstein #accountant #accounting #CPA #business #employer #employee

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Your finances, our focus. When it comes to your business, you need to work with someone you can trust. Alloy Silverstein’s accountants and CPAs are reliable and understand that your business is your priority. Learn more about working with our team and the accounting solutions that we can offer your business on our website or contact an Alloy Silverstein advisor today. #AlloySilverstein #accounting #accountant #CPA #accountingsolutions #businesssolutions

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Being a #nonprofit in #MA isn't easy. LCW CPAs understands the challenges of limited resources and complex financial needs. We recommend fractional CFOs and outsourced #bookkeeping to maximize efficiency and resources for your mission. Learn more: https://bit.ly/3y7J7x2

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#TuesdayTip: Navigating family business dynamics? Harmonizing your #business and family goals is crucial for long-term success. Read about strategies to manage family business challenges here: https://buff.ly/42YwK1R . . . #davisandhodgdon #vermontaccountant #vermontcpa #familybusiness #businessstrategy

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via cpatrendlines.com: Misperceptions, Corrections, Accountancy and Lemonade: Five notions you can help correct. By CPA Trendlines Research Go PRO for members-only access to more CPA Trendlines Research. http://dlvr.it/T7gYQc #Talent #Management #Staffing

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Please read our Insight on significant Pennsylvania corporate tax law changes including a long awaited prospective increase to the NOL cap.

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via cpatrendlines.com: Misperceptions, Corrections, Accountancy and Lemonade: Five notions you can help correct. By CPA Trendlines Research Go PRO for members-only access to more CPA Trendlines Research. http://dlvr.it/T7gYlN #Talent #Management #Staffing

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Pennsylvania provides NOL limitation relief, amends related party “addback” In brief What happened? Budget-related tax legislation enacted in Pennsylvania on July 11 increases the net operating loss (NOL) deduction limitation (from 40% to 80% of taxable income by 2029), provides an election concerning the related party expense addback “subject to tax” exception, and amends provisions regarding the deduction of goodwill for bank shares tax purposes, among other changes.  [S.B. 654, enacted 7/11/24]  Why is it relevant?  The legislation marks the latest chapter in Pennsylvania’s limitations on NOL utilization, which has been subject to litigation and amended multiple times over the years. This legislation increases the current percentage limitation in 10% annual increments but continues the 40% limitation for NOL carryforwards from loss years prior to 2025.  Actions to consider  Taxpayers should consider the need to track NOLs by year and the potential impact of this legislation on their ASC 740 tax provision.  https://lnkd.in/gKpGv_-Q

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The IRS has confirmed some special dates for Massachusetts taxpayers... Many MA taxpayers have received random refunds, others have forgotten about a storm we had last September. These are related! The IRS has announced the following are DELAYED until 7/31/24! - Individual income tax returns and payments normally due on April 15, 2024. - 2023 contributions to IRAs and health savings accounts for eligible taxpayers. - Quarterly estimated income tax payments normally due on Sept. 15, 2023, Jan. 16, 2024, April 15, 2024, and June 17, 2024. - Quarterly payroll and excise tax returns normally due on Oct. 31, 2023, and Jan. 31, 2024, and April 30, 2024. - Calendar year partnership and S corporation returns normally due on March 15, 2024. - Calendar year corporation and fiduciary returns and payments normally due on April 15, 2024. Those that missed IRA or HSA contributions should certainly take advantage of this and fund for 2023 ASAP!

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Earn AICPA's Personal Financial Specialist (PFS) Credential Demonstrate the tax knowledge and business acumen of a CPA combined with personal financial planning by becoming a CPA/PFS credential holder. https://lnkd.in/dUiSHd4

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Earn AICPA's Personal Financial Specialist (PFS) Credential Demonstrate the tax knowledge and business acumen of a CPA combined with personal financial planning by becoming a CPA/PFS credential holder. https://lnkd.in/dUiSHd4

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Earn AICPA's Personal Financial Specialist (PFS) Credential Demonstrate the tax knowledge and business acumen of a CPA combined with personal financial planning by becoming a CPA/PFS credential holder. https://lnkd.in/dUiSHd4

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Earn AICPA's Personal Financial Specialist (PFS) Credential Demonstrate the tax knowledge and business acumen of a CPA combined with personal financial planning by becoming a CPA/PFS credential holder. https://lnkd.in/dUiSHd4

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Earn AICPA's Personal Financial Specialist (PFS) Credential Demonstrate the tax knowledge and business acumen of a CPA combined with personal financial planning by becoming a CPA/PFS credential holder. https://lnkd.in/dUiSHd4

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[Planning for Work-Related Deductions – Upcoming Tax Return] As the tax season approaches, ensuring accuracy in claiming work-related expenses is essential. I am Ryan, the Principal Tax Agent at JSJ Accounting & Advisory, and I'm here to illuminate the path to a stress-free tax return with a focus on maximizing your rightful deductions. 1. Vehicle and Travel Expenses Claimable expenses include travel between different work locations, client sites, and temporary workplaces. Travel from home to work can only be claimed if carrying bulky tools or equipment essential for your job that cannot be stored securely at the workplace. 2. Clothing, Laundry, and Dry-Cleaning Expenses Expenses related to occupation-specific clothing, protective gear, and distinct uniforms mandated by your employer are deductible. This includes costs for purchasing, laundering, and repairing these items. 3. Home Office Expenses - Deductible expenses for those working from home include a portion of the utility costs attributable to work use, such as electricity for heating, cooling, and lighting, as well as cleaning costs associated with your home office area. - Claims can be made for depreciation on home office furniture and equipment, and the cost of internet and telephone expenses directly related to employment. 4. Self-Education Expenses Expenses related to courses, seminars, or educational workshops that are directly connected to your current employment are deductible. Eligible costs include course fees, necessary educational materials, and associated travel. 5. Tools and Equipment Expenditures on tools and equipment necessary for your job are deductible. This includes initial purchase costs, maintenance, repair, and insurance fees. Additionally, you can claim depreciation on these items. 6. Other Work-Related Expenses - Membership fees for unions, professional associations, and subscription costs for journals and publications relevant to your field are deductible. - Costs for renewing licenses and regulatory fees, as well as expenses for required occupational medical tests and police checks, are also eligible for deduction. Record-Keeping for Deductions: Comprehensive records must be maintained to substantiate your claims. These include receipts, detailed bank statements, and logs or diaries for travel and equipment usage. Professional Consultation: To ensure compliance and optimize your tax return, professional guidance is recommended. I am available to assist with interpreting complex tax rules and maximizing your entitled deductions. For a personalized approach and comprehensive tax solutions, connect with me at JSJ Accounting & Advisory.

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