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Looking for an Opportunity?

Looking for an Opportunity?

By on Jan 14, 2018 in Uncategorized | 0 comments

At Johnson, Mackowiak & Associates, LLP, we know that our success as an accounting firm depends on maintaining an excellent team. That’s why we offer challenging opportunities, competitive compensation and a flexible and comfortable work environment where you’ll feel like part of the family. JMA is looking to hire a CPA. For additional information, visit our Opportunities page. If you meet our qualifications, give us a...

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No More Deducting of Entertainment Expenses for Businesses

No More Deducting of Entertainment Expenses for Businesses

By on Dec 22, 2017 in Uncategorized | 0 comments

The recently passed tax bill brings many changes. One noteworthy change for businesses is the elimination of the ability to deduct entertainment expenses. According to a recent article titled “How tax overhaul would change business taxes” from the Journal of Accountancy®: “Entertainment expenses: The bill would disallow a deduction with respect to (1) an activity generally considered to be entertainment, amusement, or recreation; (2) membership dues with respect to any club organized for business, pleasure, recreation, or other social purposes; or (3) a facility or portion thereof used in connection with any of the above items.” Credit to: How tax overhaul would change business taxes By Alistair M. Nevius, Journal of Accountancy, December 18,...

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NYS Paid Family Leave Program

NYS Paid Family Leave Program

By on Dec 4, 2017 in Uncategorized | 0 comments

In 2016, Governor Cuomo signed into law the nation’s strongest and most comprehensive Paid Family Leave policy. Starting January 1, 2018, the New York State Paid Family Leave Program will provide New Yorkers job-protected, paid leave to bond with a new child, care for a loved one with a serious health condition or to help relieve family pressures when someone is called to active military service. More information about family paid leave, whether you are an employer, health care provider, or an employee, can be found on the New York State government website or by calling the Paid Family Leave Helpline at...

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IRS Announces 2018 Tax Brackets, & Standard Deduction Amounts

IRS Announces 2018 Tax Brackets, & Standard Deduction Amounts

By on Nov 6, 2017 in Uncategorized | 0 comments

The Internal Revenue Service has announced the annual inflation adjustments for a number of tax-related provisions for 2018, including, of course, the latest tax rate schedules and tax tables. The big news is, of course, the tax brackets and tax rates for 2018. The top tax rate remains 39.6%. The other marginal rates are: 10%, 15%, 25%, 28%, 33% and 35% (there is also a zero rate). To learn more and find out how it breaks out, read the full article on msn.com. Credit to msn.com IRS announces 2018 tax brackets, standard deduction amounts Kelly Phillips Erb, Forbes, October, 19,...

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Retirement Decision: Lump Sum or Monthly Check?

Retirement Decision: Lump Sum or Monthly Check?

By on Oct 16, 2017 in Uncategorized | 0 comments

If you are fortunate enough to have a pension, you’ll have to make a choice when you are ready to claim this retirement benefit. Should I take my payout in a lump sum or in the form of a monthly pension check?  This question might be better answered by the question: can I afford my monthly bills? A few things can effect the equation: Savings Health Status Taxes Post-Retirement Work Status Learn more about why each of these items are important in the article Lump Sum vs Pension: A Guide to Making the Right Choice for You. Courtesy of The Motley Fool Lump Sum vs Pension: A Guide to Making the Right Choice for You Deciding to take a pension or lump sum is a difficult decision, so before choosing, make sure you consider your budget, your health, and the tax risks. By Todd Campbell, Fool.com, Sep 1, 2017...

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