Stop Confusing Your Finances: The Critical Difference Between Accounting & Bookkeeping For many small business owners, the terms bookkeeping and accounting seem interchangeable. Consequently, they use both terms when discussing the daunting task of “doing the books.” However, confusing these two distinct functions is a critical mistake. This error can lead to missed strategic opportunities, financial inefficiency, and unnecessary tax … Read More
The One Big Beautiful Bill Act: Master Your Construction Taxes
Part 1: How Construction Accounting Principles Save You Taxes Construction accounting is a specialized branch of finance that utilizes unique methods like the Percentage of Completion Method (PCM) to defer tax liabilities and improve cash flow. By leveraging specialized IRS codes like Section 460, TYS helps firms perform the one big beautiful bill act by aligning taxable income with actual … Read More
High-Value Accounting Services for SMBs and High-Net-Worth Success
Specialized accounting services utilize advanced tax planning and entity structuring to maximize wealth preservation for small businesses and high-net-worth individuals. By applying specific IRS codes and rigorous cash flow analysis, these accounting services ensure that clients minimize their tax basis while staying fully compliant with federal mandates. TYS provides these authoritative solutions to help taxpayers in Rochester and Walnut Creek … Read More
Crucial Tax Changes for inherited IRAs in 2025
For clients and professionals navigating the complexities of inherited retirement assets, understanding the updated IRS regulations is critical. The SECURE Act of 2019 and the subsequent SECURE 2.0 Act have reshaped the landscape for non-spouse beneficiaries, with significant new requirements taking effect in 2025. This summary provides a comprehensive, CPA-accurate overview of what has changed and what it means for … Read More
The One Big Beautiful Bill Act
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