by Claude Silverman | Sep 13, 2024 | Accounting, Healthcare, Hospitality, Maritime, Nonprofit, Tax
The IRS extended the time to properly file 2023 income tax returns and make any 2024 estimated tax payments due between September 10, 2024, and February 3, 2025, until February 3, 2025. This means your properly extended 2023 Federal Income Tax Return and your 2024...
by Claude Silverman | Aug 17, 2024 | News, Tax
All of us dream of one day being able to retire – to finally be able to relax and enjoy the lifestyle we worked so hard for. However, you’ll need a significant amount of money to do it, which is where a lot of Americans begin to worry. Saving for...
by Claude Silverman | Aug 14, 2024 | Advisory, Construction, Healthcare, Hospitality, Maritime, Nonprofit
As the name suggests, cash flow is a term used to describe the money coming into and out of a business. Cash received – like money being paid to the business from its customers – would be inflow. Cash spent – like the funds being paid to vendor...
by Claude Silverman | Aug 1, 2024 | Accounting, Advisory, Tax
The type of business that you’re running has major implications in virtually all areas of your operations, especially when it comes to federal taxes. An S Corporation (or S Corp for short) is one that passes corporate income, losses, deductions, and credits to...
by Claude Silverman | Mar 24, 2023 | News
Most of the time an expense that may be tax deductible needs to be paid by the end of the year for which the expense will be claimed. However, there is an exception to that rule. IRA contributions for the prior year can be made after the close of the year if made by...
