Your Roadmap to Significant Business Tax Savings The recently enacted tax law, known as The One Big Beautiful Bill Act, has ushered in a new era of business tax opportunities. For owners and managers of businesses—from tech startups in the Bay Area to manufacturing firms in upstate New York—this legislation offers powerful incentives to invest, grow, and improve cash flow … Read More
Ways to tell if the IRS is reaching out or if it’s a scammer
Identity thieves can prey on anyone, at any time. Here are some helpful tips for taxpayers to know when it’s really the IRS or not. Email, text and social media The IRS doesn’t make initial contact through email or social media channels. Some common electronic scams thieves use are: These messages will often direct taxpayers to click fraudulent links they … Read More
Guidance for Tax Year 2025
H.R. 1 – The One Big Beautiful Bill Act: The Internal Revenue Service has announced that, as part of its phased implementation of H.R. 1, there will be no immediate changes to certain information returns or withholding tables for Tax Year 2025. This decision is aimed at providing a smooth tax filing season and allowing the IRS, businesses, and payroll … Read More
Business Entity – Beyond the Basics:
Choosing the right Business Entity LLC, S-Corp, and C-Corp Welcome back to our series on choosing the right business structure. In Part 1, we explored the simplicity of the business entity of a Sole Proprietorships and Partnerships. While these can be great starting points, many businesses in California and New York eventually need a more robust structure that offers liability … Read More
Decoding Business Structures:
A CPA’s Guide for Entrepreneurs Starting a new business is an exhilarating journey, but the path to success is paved with critical decisions. One of the first and most fundamental choices you’ll make is selecting the right legal structure for your company. This decision has a lasting impact on everything from your personal liability to your tax bill. As a … Read More
Maximizing Your Retirement Income:
Uncovering Overlooked Tax Breaks for Retirees and Individuals Over 65 A TYS Accounting Guide Welcome to retirement—a time for you to reap the rewards of a lifetime of hard work. At TYS, we understand that transitioning to a fixed income requires careful financial planning, and a significant, yet often underestimated, part of that plan is strategic tax management. Many retirees … Read More