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726 Exchange Street, Suite 822
Buffalo, NY 14210
Phone: 716-854-5034
Fax: 716-854-7195
  • Beginning December 31, 2018, the required minimum salary levels for executive and administrative employees to qualify as overtime exempt in New York State will increase (New York does not have a minimum salary level for professional employees although most of these employees would still be…

  • On January 1, 2019, the New York State Paid Family Leave rate and benefit schedule will change.  These changes are as follows: Rate: Employee contribution and premium rate is 0.153% of an employee’s gross wages per pay period up to and not to exceed an…

  • If you’re like many Americans, letters from your favorite charities have been appearing in your mailbox in recent weeks acknowledging your 2018 year-end donations. But what happens if you haven’t received such a letter — can you still claim an itemized deduction for the gift…

  • While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But…

  • While most provisions of the Tax Cuts and Jobs Act (TCJA) went into effect in 2018 and either apply through 2025 or are permanent, there are two major changes under the act for 2019. Here’s a closer look. 1. Medical expense deduction threshold With rising…

  • The dawning of 2019 means the 2018 income tax filing season will soon be upon us. After year end, it’s generally too late to take action to reduce 2018 taxes. Business owners may, therefore, want to shift their focus to assessing whether they’ll likely owe…

  • Do you have investments outside of tax-advantaged retirement plans? If so, you might still have time to shrink your 2018 tax bill by selling some investments • you just need to carefully select which investments you sell. Try balancing gains and losses If you’ve sold…

  • With the dawn of 2019 on the near horizon, here’s a quick list of tax and financial to-dos you should address before 2018 ends: Check your FSA balance. If you have a Flexible Spending Account (FSA) for health care expenses, you need to incur qualifying…

  • Congratulations to the following employees who were recognized at our annual holiday dinner for years of service with the firm: Bob Whitty, Senior Accountant – 5 years Alison Clohessy, Manager – 10 years Maryann Koske, Executive Assistant – 30 years Tom Grogan, Partner – 40…

  • Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable…