TYS, LLP Merges with Lefkowitz & Company LLP

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

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?

accountants in rochester ny, bitcoin coins, crypto currency, tax laws, tax season, tax expense,

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

accountants in rochester ny, Accountants near me, tax accounting near me, cpa accountants near me, accounting firms rochester ny, accountants rochester ny, cpa rochester ny, cpa firms in walnut creek, tax accountant san ramon, san ramon cpa, llp accountants, rochester accounting firms, walnut creek cpa firms, what is tys, cpa firms in rochester, 2018 child tax credit, accounting, tax accounting,

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

Accountants near me, tax accounting near me, cpa accountants near me, accounting firms rochester ny, accountants rochester ny, cpa rochester ny, cpa firms in walnut creek, tax accountant san ramon, san ramon cpa, llp accountants, rochester accounting firms, walnut creek cpa firms, what is tys, cpa firms in rochester, 2018 child tax credit, accounting, tax accounting,

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

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

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

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?

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

Tax Season is Coming – Vital things to know Part 1

QBI, TCJA, Taxes are due, tax accounting

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

Forms 1040-EZ and 1040-A, Accountants near me, tax accounting near me, cpa accountants near me, accounting firms rochester ny, accountants rochester ny, cpa rochester ny, cpa firms in walnut creek, tax accountant san ramon, san ramon cpa, llp accountants, rochester accounting firms, walnut creek cpa firms, what is tys, cpa firms in rochester, 2018 child tax credit, accounting, tax accounting,

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

Tax accounting, Book keeping

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

Announcing our new team member 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 specialization in closely-held businesses. … Read More