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
CARES ACT & SBA Loans
Learn more about the CARES ACT & the available Loans from the SBA (Small Business Administration) and what that might mean to you and your business, just watch this video of a recent webinar. Co-founder and partner of TYS LLP Glen Thomas, discuss with Terence L. Lau, JD Dean College of Business California State University, Chico explore who can benefit … Read More
IRS Announces a Filing Extension
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?
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
Important Tax Changes for Businesses
Learn about the Important Tax Changes for Businesses that in store. Tac changes in tax credits, expensing & deductions have changed for 2020.
Important Tax Changes for Individuals
Every year, it’s a sure bet that there will be changes to current tax law and this year is no different. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead. INDIVIDUALS – THE TAX CHANGES In 2020, a number of tax provisions are affected by … Read More
Welcome Emily Callahan
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
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
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
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.
Tax Season is Coming: Five Steps to Get Ready
Tax Day? What are you talking about? Tax season is not for a while yet. That may be true, but it comes quickly. The Tax Season will be here before you know it! Why not start getting ready now? 2019 could be the year you are totally prepared. In order to help you get there, TYS LLP has laid out … Read More
Do I Have to Pay Taxes on Bitcoin Transactions?
Exchanging a cryptocurrency for another, converting it back to USD or spending cryptocurrency are taxable events. Gains and losses on all individual trades must be reported to the IRS and are subject to capital gains tax.
Four Food Industry Accounting Efficiencies
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
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
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
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