An age-old question in business: is a worker an independent contractor or an employee? This seemingly simple question is often the contentious subject of numerous IRS audits in recent years. As an employer, getting this…

There are nearly 1,000 different tax forms used by the IRS to report tax obligations. It’s no wonder the IRS faces thousands of tax returns with errors each year. Our CPAs have seen many mistakes…

Alloy Silverstein’s Tax Tip of the Week As the end-of-year holidays approach, you may decide to be extra generous to your loved ones. Specifically, by giving your family members gifts that are usually sheltered by…

It’s hard enough to watch your child leave for college. Now you also have to say goodbye to the tuition and fees tax deduction. Congress decided not to extend this $4,000 deduction for 2017, leaving…

Alloy Silverstein’s Tax Tip of the Week The tax rules are relatively lenient for rollovers to a traditional IRA. For instance, if you transfer funds from your 401(k) plan to an IRA within 60 days,…

Major Tax Deadlines for October 2017 October 16 – Filing deadline for 2016 tax returns for individuals or corporations if you requested/received a six-month extension. Pay taxes due by this date. October 16 – Deadline to recharacterize a Roth…

Alloy Silverstein’s Tax Tip of the Week   In today’s tax environment, nothing is certain. However, as things stand now, high-income taxpayers may continue to value municipal bonds (“munis”) and muni bond funds. Consider these…