IRS Announces a Filing Extension

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IRS Extends tax filing due date, Best Accountants in Rochester NY, Best tax accountants

Tax Day Filing Extension Announced Due to the economic upheaval COVID-19 has created throughout the US, the IRS is giving taxpayers a break by pushing the April 15 payment and filing deadline to July 15h of this year. Laura Saunders from the Wall Street Journal puts it ” “In short, taxpayers shouldn’t blow off their April 15 IRS filings just … Read More

Do I need to File a 2019 Tax Return?

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tax returns, tax refunds, tax burden, tax accounting, Best Accountants in Rochester NY, Best tax accountants

Most people file a tax return because they have to, but even if you don’t, there are times when you should – because you might be eligible for a tax refund and not know it. The tax tips below should help you determine whether you’re one of them. GENERAL FILING RULES Whether you need to file a tax return this … Read More

Welcome Emily Callahan

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TYS LLP Is pleased to welcome Emily Callahan to the TYS family as a staff accountant. While she was getting her degree in accounting from Brockport College, Emily shined as an intern with us for the past 2 years. She demonstrated a great work ethic and dedication to getting the work done. Welcome aboard Emily.

TYS, LLP Merges with Lefkowitz & Company LLP

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TYS, LLP Annouces a merger with Lefkowitz & Company LLP

TYS Expands Operations to Four States Walnut Creek, CA | January 7, 2020 — National accounting firm TYS, LLP (TYS) is pleased to announce that it finalized a merger with Lefkowitz & Company LLP on January 1st. TYS, a full-service tax, accounting, and business consulting firm will welcome David L. Lefkowitz and Lori Lefkowitz as Partners , along with four … Read More

SECURE Act a Boon to Employers & Employee Benefits for Retirement Savings

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Small-business owners secured a major recruitment tool and an enhanced tax credit offering with the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act by the U.S. Senate. The bill, signed by President Trump on Friday, Dec. 20, 2019, is the most significant retirement savings reform legislation in nearly 15 years. Many small-business owners have often faced hurdles – … Read More

Announcing a New Hire

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TYS LLP is very happy to announce the hiring of Jordan Arnold as our new staff accountant. Jordan interned with us and we were duly impressed with his eagerness to do and learn. He has a bachelor’s degree in accounting and finance and a master’s in accounting from the College at Brockport. We are happy to have him.

Four Food Industry Accounting Efficiencies

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Like many industries, food industry folks can benefit from some simple yet effective strategies that stress organization and efficiency. And while they may seem tedious or pesky, they can make your business more profitable and less stressful in the long term. Some of these tips are “one and done!” Others require more time and attention, but they are all incredibly helpful in making sure you’re on top of the financial part of your business.

New W-4 Form:Released In Time For 2020 Tax Year

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the tax year is more complicated than it used to be. If you were surprised to find you owed taxes this year, or received a lower-than-expected refund due to the new tax laws, you’ll want to read this. The Internal Revenue Service is changing how you adjust your paycheck withholdings, and it’s more complicated than it used to be. In … Read More

Tax Surprises

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person using calculator to pay taxes

No one thinks writing a check to the IRS is fun. If you have been following the news lately, you have probably heard about people who have already filed their tax returns and got a big surprise – a smaller refund, no refund or ended up owing the IRS. No one thinks writing a check to the IRS is a … Read More

QBI Deduction – Tax Cuts & Jobs Act

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QBI Deduction explained The 21st century has seen a great many changes on how we work, live and play. We pretty much have abandoned  the idea of working at one company for our whole careers. In fact of the freelancer or a sole proprietor part of the economy has blossomed. The Brookings Institute calls this trend the “Gig” economy and … Read More

Melissa Wallace Promotion to COO

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Melissa D. Wallace - Chief Operating Officer, CPA

The partners at TYS LLP are proud to announce that Melissa Wallace has been promoted to Chief Operating Officer. Melissa has been with TYS for more than 8 years and a CPA for more than 20 years. Before coming to TYS, Melissa had her own firm and has deep operational expertise that she has employed at TYS throughout her tenure. … Read More

IRS Shutdown – How worried Should You Be?

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IRS and the government shutdown, tax season, tax preparation, slow refunds

IRS Shut Down: How Worried Should You Be? What does the government partial shutdown mean regarding your tax return? Well, the IRS issued a new contingency plan to deal with the shutdown, but that hasn’t really helped tax professionals and lawmakers relax. There are gaps in the 132-page plan, but this is what we know: Returns will be accepted. Refunds … Read More