Educator Expense Deduction

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deductions that educators can take

HOW THE EDUCATOR EXPENSE DEDUCTION WORKS Even with COVID-19 in full swing, schooling in-person or virtual is moving on. Educators should be aware that they can deduct up to $250 of unreimbursed business expenses. If both spouses are eligible educators and file a joint return, they may deduct up to $500, but not more than $250 each. According to the … Read More

Protect Tax Records Before Disaster Strikes

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house fire can destroy your tax records

We have seen in recent times how quickly our lives can be upended by natural & man made disasters. As such, it’s always a good idea to plan for what to do in case of a disaster. Here are some simple steps you can take right now to prepare: Backup Records Electronically. Many people receive bank statements by email. This … Read More

We Moved, New Rochester Office

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Best, Accountants in Rochester, TYS has moved, tax accounting, construction accounting

We Moved! New Rochester, NY Office, Same Trusted Advisors One thing that will never change is that TYS is upstairs and to the right. Our landlord is demolishing our old office park, so they decided to move us! You’ll now find us at 242 Willowbrook Office Park in Fairport. We want you to know that we are the same TYS … Read More

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.