In today’s rapidly evolving business landscape, accounting firms face the imperative of staying competitive and adapting to the changing needs of their clients. Traditional bookkeeping and tax preparation services, while essential, are no longer sufficient to meet the demands of businesses seeking comprehensive financial guidance. To remain at the forefront of the industry, accounting firms are shifting towards a new … Read More
Interest Assessment Surcharge and what you need to know.
TYS wanted to answer some questions you might have about the New York State IAS or Interest Assessment Surcharge. Just to remind you why the IAS is something you should be aware of, here are some details. In March 2020, the federal government passed the CARES Act, creating several pandemic unemployment programs to support out-of-work Americans impacted by the COVID-19 pandemic. … Read More
Taxpayer Bill of Rights Part 2
Taxpayer’s Bill of Rights Part 2 As taxpayers, most of us probably think that whatever the IRS says goes and that we as taxpayers don’t have much recourse. However, as a taxpayer in the United States you do have rights and they are documented in the Taxpayer Bill of Rights. One of the rights listed on the IRS website at … Read More
What Is Accounting? A Guide for Small to Medium Sized Business Owners
A Guide for Small to Medium Sized Business OwnersAs an owner of a smaller business, you know you can’t gamble with your finances. Whether you file the wrong tax form or hand a messy budget to an investor, it takes one mistake to cause financial ruin. To avoid this, consider adding an accountant to your team. What exactly is accounting … Read More
Tax Preparation vs Tax Planning
Many people assume tax planning is the same as tax preparation, but the two are quite different. Let’s take a closer look: WHAT IS TAX PREPARATION? Tax preparation is the process of preparing and filing a tax return. Generally, it is a one-time event that culminates in signing your return and finding out whether you owe the IRS money … Read More
We Moved, New Rochester Office
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