By Alan R. Sasserath, CPA, MS Over the last several days, we, like many of you, have watched with bated breath as the events of the Silicon Valley Bank (”SVB”) collapse unfolded. As of the close of business on Friday, many SVB customers with balances in excess of the $250,000 insured FDIC limit were unsure if […]
For the 2022 holiday season we will be collecting toys and gifts for Family Service League’s (FSL) annual holiday gift drive, Project TOY. Project TOY helps bring joy and toys to families throughout Suffolk County by providing gifts for children and teens in need. FSL deeply appreciates and accepts donations for children of all ages. Gifts/gift […]
Getting paid for keeping employees on payroll? Sounds like some sort of utopia. Or maybe it’s just a tax incentive for business owners during the pandemic called the employee retention credit. What is the Employee Retention Credit? The employee retention credit (ERC) is a tax credit established under the CARES Act in 2020 as a […]
By George Batas, CPA Did you know that over $17.7 billion has been spent on NFTs in 2021 alone? And that the most expensive NFT sold to date was worth $91.8 million? Given these numbers, you might be asking yourself, what is this booming industry, how can I get involved, and what are NFT tax […]
As Ben Franklin once said, “In this world, nothing is certain except death and taxes.” Modern-day accountants might add another certainty: pass-through entity tax returns filed in New York State cannot be amended or adjusted once filed according to NYS rules. This usually holds true, unless Sasserath & Co. is on the case. The pass-through […]
As a small business owner, you probably think about tracking expenses and keeping up with tax deductions, but these aren’t the only critical accounting tips you should know. Whether you’ve been in business for a while or you’re a new start-up entrepreneur, read on for our 8 best accounting tips. 1. Outsource your bookkeeping. For […]