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Phone: 716-854-5034
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  • You can reduce taxes and save for retirement by contributing to a tax-advantaged retirement plan. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a taxwise way to build a nest egg. If you’re not already contributing the maximum allowed,…

  • One of the most laborious tasks for small businesses is managing payroll. But it’s critical that you not only withhold the right amount of taxes from employees’ paychecks but also that you pay them over to the federal government on time. If you willfully fail…

  • Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from required minimum distributions, you may benefit by giving these amounts to charity. IRA distribution basics A popular way to…

  • If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the “wash sale” rule. How the rule works Under this rule, if you sell stock or securities for a loss…

  • There are several ways to save for your child’s or grandchild’s education, including with a Coverdell Education Savings Account (ESA). Although for federal tax purposes there’s no upfront deduction for contributions made to an ESA, the earnings on the contributions grow tax-free. In addition, no…

  • BS&P is always looking for ways to provide innovative solutions to our clients that provide value and can help with compliance. If you would like to discuss your current benefits package and learn more about all of Sheridan’s value-added services, please call David Malczewski at…

  • As we head toward the gift-giving season, you may be considering giving gifts of cash or securities to your loved ones. Taxpayers can transfer substantial amounts free of gift taxes to their children and others each year through the use of the annual federal gift…

  • You may have Series EE savings bonds that were bought many years ago. Perhaps you store them in a file cabinet or safe deposit box and rarely think about them. You may wonder how the interest you earn on EE bonds is taxed. And if…

  • We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and fees was $10,230 for in-state students at public four-year universities — and $35,830 for students at private not-for-profit four-year institutions….

  • Our firm is pleased to announce the recent promotions of Alison Clohessy, CPA to Principal, Matt Aldinger, CPA, Zachary Shroyer, CPA and CJ Van Note, CPA to Manager and Katlynn Cole, CPA and Molly Kassirer, CPA to Senior Accountant. Alison Clohessy, CPA has over ten…