Posted on January 28th, 2019

New York small business accounting firm Robert P Russo, CPA specializes in accounting services for small businesses, start-ups, and real estate accounting.

With over 30 years of experience, we help with business and tax planning.

The Tax Cuts and Jobs Act of 2017 is “as clear as mud,” says Bob. “Now more than ever, small businesses need tax planning more than a one-per-year meeting with their accountant.”

Robert P. Russo, CPA hosts tax seminars for small business owners, entrepreneurs, and people working in real estate. Sign up for our e-newsletter for announcements and ongoing tax tips.

Posted on January 18th, 2019

Where to Look for Hidden Tax Deductions (Even Though 2018 is Over)

It’s that time of year again! Time for business owners to get together with their accountants to review the previous year’s taxes. If you’ve already started crunching your 2018 numbers, and don’t like what you see, there are still ways to uncover hidden tax deductions – which could potentially save you thousands. Read More…

Tags: 2018 Tax Law, Deductions

Posted on January 15th, 2019

Your New Year’s Resolutions to Maximize Your 2019 Tax Deductions

It’s a new year, and a new opportunity to ensure you’re taking all possible 2019 tax deductions. That’s why we put together a list of New Year’s Resolutions for business owners and independent contractors.

All of us at Robert P. Russo CPA in NYC are ensuring our clients know how the Tax Cuts and Jobs Act (TCJA) of 2017 impacts their 2019 tax deductions – and now we’re sharing that knowledge with you…

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Tags: Deductions

Posted on January 4th, 2019

Every year, it’s a sure bet that there will be changes to current tax law and this year is no different, now that the tax provisions under the Tax Cuts and Jobs Act of 2017 (TCJA) are in full effect. From standard deductions to health savings accounts and tax rate schedules, here’s a checklist of tax changes to help you plan the year ahead. Read More…

Tags: 2018 Tax Law, Small Business

Posted on January 4th, 2019

The 2019 tax season is quickly approaching and with it an increase in identity theft and W-2 scams. Small business identity theft is big business for identity thieves. Just like individuals, businesses may have their identities stolen, and their sensitive information used to open credit card accounts or used to file fraudulent tax returns for bogus refunds. Read More…

Tags: Fraud Prevention

Posted on January 3rd, 2019

The Tax Cuts and Jobs Act, passed in December 2017, made tax law changes that will affect virtually every business and individual in 2018 and the years ahead. One tax provision that taxpayers should be aware of is that like-kind exchanges are now generally limited to exchanges of real property. Here’s what you need to know: Read More…

Tags: Real Estate

Posted on January 3rd, 2019

Everyone wants to save money on their taxes, and older Americans are no exception. If you’re age 50 or older, here are six tax tips that could help you do just that. Read More…

Tags: 2018 Tax Law

Posted on January 2nd, 2019

Starting January 1, 2019, the standard mileage rates for the use of a car, van, pickup or panel truck are as follows:

• 58 cents per mile driven for business use, up 3.5 cents from the rate for 2018
• 20 cents per mile driven for medical or moving purposes, up 2 cents from the rate for 2018.
• 14 cents per mile driven in service of charitable organizations.

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Tags: Deductions

Posted on January 2nd, 2019

If you’ve lost your job you may have questions surrounding unemployment compensation, severance, and other issues that could affect your tax situation. Here are some answers: Read More…