Tax Cut and Jobs Act (TCJA) that was passed in late 2017, has benefited businesses both big and small. For the business who can take advantage of the Qualified Business Income or (QBI) deduction for pass through entities it can be a real boon. The new tax code sounds like an awesome opportunity, if you can take advantage of it. … Read More
Last Year of the Tax Penalty
When the Tax Cuts and Jobs Act was signed into effect in 2017, one of the least talked about changes is the repeal of the Affordable Care Act’s penalty by zeroing out fines. The individual shared responsibility provision also known as the “individual mandate” is the penalty that goes to people who do not have health insurance. The penalties didn’t … Read More
Time to delegate
Choose an accountant that understands your business What to look for when choosing an accountant When you are running a small business, cash flow, paperwork, taxes and government regulations are always on a small business owner’s mind. After all, what’s more important than managing your company’s financial affairs? Learning good small business accounting practices is a must. But, the time … Read More
Welcoming to the Team – Doris Rankins
Doris Rankins Doris Rankins Doris Rankins joins the TYS LLP Team TYS LLP announces the hiring of Doris Rankins, CPA as Tax Manager in their Fairport, NY office. Doris has 20 years of public accounting experience, including 3 years as tax principal for a Top 25 regional firm. Her wide ranging experience includes taxation of various entity types with a … Read More
Small firms thrive with accounting partners
Small construction companies or sub-contractors in the construction services industry have many financial challenges to consider when running their day to day operations. Key to ensuring prosperity, success and stability in the industry is preparation and sound management. The best way to simplify management and assure accuracy and accountability is to hire an experienced accounting services firm or CPA. The … Read More
Construction Accounting is complex
Construction Accounting is complex The foundation for building a profitable construction business may begin with purchasing quality equipment and tools and hiring experienced people to handle the business, but most owners know that whatever segment of the construction business you are in, it is vital to know how to navigate the fundamentals of good accounting practices, state and local compliance, … Read More