Home

Thanks Anthony! Here's a list of the topics I plan to cover this Friday: 1. The One Big Beautiful Bill Act, H.R. 1 2. Federal Estate, Gift and Generation-Skipping Transfer (GST) Tax Provisions effective Jan. 1, 2026 (also state estate tax) 3. Trump Accounts and 529 Plan ...

A NYS resident cash basis S corp. pays estimated PTET tax of $9,300, all in 2025. The S corp files its annual NYS PTET return in 2026 and the actual PTET tax is $9,150, resulting in a refund of $150 which will be refunded to the S Corp. by NYS via paper check. What is the proper PTET credit for ...

That could help cosmetically. Or for future hires. But it wouldn't change his entitlement for 2025. The only two choices for 2025 are either to fix it or ignore it. Regarding electives, he can't make an election any more for 2025. It had to be made before the wages were available, and these have not ...

The non-spouse employee was hired 7/1/25 so in 2025 he worked less than 12 months. The eligibility section of the Schwab plan adoption agreement provides an option for a one year requirement. My immediate issue is 2025. I wonder if the adoption agreement can be revised to require one year of employment. ...

The only way that a plan could (legitimately) be a "solo 401(k) plan" in that situation is if it had a one-year service requirement (yours didn't), so that the employee would not become eligible until this year, while the owner-employee would have been eligible all along (assuming that she had met the ...

As many of you know, I started (after Elliot Hendler's memory tribute was posted on the Exchange) the campaign to bring back 'committee'. Thank you to all of you who posted your agreement and to the Board who voted to reverse the 'community'. Alan ------------------------------ Alan E. Weiner CPA, ...

Hello everyone, I am excited to share the Society's February 2026 event calendar . There's lots of great happenings this month and I hope to see many of you there either via Zoom or in person as your schedules permit. Here's an item I'd like to highlight -- the Brooklyn Nets versus San ...

After a great deal of respectful discussion and exchange of viewpoints at today's NYSSCPA Board of Directors meeting, I am very pleased to announce that the Society Board of Directors voted today (February 4, 2026) to reinstate the use of the nomenclature " committees " in lieu of " communities of ...

My Dear Fellow Society Members, I hope you will join both Society CEO Calvin Harris and me this Thursday, January 22nd at 4:30 p.m. for our next Society Town Hall Meeting . There are several important matters to be shared and discussed with you, including a series of recent significant ...

Hello everyone, I am excited to share the Society's January 2026 event calendar . There's lots of great happenings this month and I hope to see many of you there either via Zoom or in person as your schedules permit. Here's the link (with a cut and paste set forth below). NYSSCPA Event ...

Yes, the only "employees" would have been the husband and wife. I believe the payments to both were transfers that went to a shared personal account. So, yes, I would feel comfortable treating them as distributions.

Was he the only "employee"? were personal returns filed, W-2's prepared? Could the payments simply be distributions ------------------------------ Gerald Cohen Retired (no firm) The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity ...

Hello Everyone, I have new client that came in recently. Her husband died abruptly this month. She owns a firm. He was supposed to oversee the office, including the filing of taxes, but the taxes were never filed. I have emails from her stating that he buried the letters from NYS/IRS and, any ...

Yes, the only "employees" would have been the husband and wife. I believe the payments to both were transfers that went to a shared personal account. So, yes, I would feel comfortable treating them as distributions.

Was he the only "employee"? were personal returns filed, W-2's prepared? Could the payments simply be distributions ------------------------------ Gerald Cohen Retired (no firm) The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity ...

Hello Everyone, I have new client that came in recently. Her husband died abruptly this month. She owns a firm. He was supposed to oversee the office, including the filing of taxes, but the taxes were never filed. I have emails from her stating that he buried the letters from NYS/IRS and, any ...