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Federal Rates for August

By on Aug 1, 2015 in Uncategorized | 0 comments

  Five-Minute Tax Briefing® July 28, 2015 – No. 2015-14 Applicable Federal Rates for August:  The Section 7520 rate for August 2015 is 2.2%, while the Applicable Federal Rates (AFRs) are as follows (Rev. Rul. 2015-16, 2015-31 IRB): Annual  Semi-annual  Quarterly  Monthly  Short-term (≤ 3 years) 0.48% 0.48% 0.48% 0.48% Mid-term (> 3 years but ≤ 9 years) 1.82%...

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5 Minute Tax Tip – Health Savings Accounts

By on May 11, 2015 in Uncategorized | 0 comments

Health Savings Accounts (HSAs):  HSAs allow eligible individuals to make deductible contributions that can be withdrawn tax-free later to reimburse the individual for eligible medical expenses. For 2016, the limitation on HSA deductions is $3,350 for an individual with self-only coverage under a High Deductible Health Plan (HDHP) or $6,750 for an individual with...

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5 Minute Tax Tip – IRS Promotes Small Business Week

By on May 6, 2015 in Uncategorized | 0 comments

IRS Promoting Small Business Week:  The IRS is spotlighting educational products for small business owners and self-employed individuals. The products include webinars and videos on topics including: (1) business use of your home, (2) avoiding the biggest tax mistakes, (3) depreciation basics, (4) child and daycare provider tax compliance, and (5) navigating the...

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Non-Profit Financial Filing Threshold for NYS

Non-Profit Financial Filing Threshold for NYS

By on Apr 30, 2015 in Uncategorized | 0 comments

Effective July 1, 2014 The thresholds for filing certain financial reports with the New York State Attorney General are as follows: Total Annual Gross Revenue & Support Report Required $500,000+ (*) Independent Cpas Audit $250,000 To $500,000 (**) CPA Review Report Up To $250,000 No Audit or Review is Required * the audit threshold will be raised to $750,000 as...

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