212 Tax & Accounting Services

http://chng.it/M8hTqdNy8m

Very interesting ruling about BASIS in an S-Corp. Same ruling would probably apply to LLCs/Partnerships.

Happy 2020 from all of us here at 212 Tax, please feel free to share your feedback with us here: https://www.bbb.org/new-york-city/review/131012/

There are still a few days left in 2019, which means you still have time to lower your tax liability/maximize your refund....if you act quick!!

Contributing to a 529 Plan is a great way to put money aside for your child's college education and also get a NYS tax deduction, watch for more details!

This video very briefly explains why as a business owner or self-employed person, you may want to consider a change in entity structure BEFORE the end of the year!

JUST STARTED or THINKING ABOUT FORMING A NEW BUSINESS ENTITY?? Here are some useful tips: 1) make sure you keep all receipts, invoices, canceled checks, bank statements, for at least 3 years. (in case of an audit) 2) Use a separate debit card, credit card, and bank account for all business/LLC income and expenses. ... 3) DO NOT COMINGLE LLC/business money and personal money. Keep them as separate as possible. 4) When moving money from your LLC account to your personal account, try to keep it to once or twice a month in larger, round amounts. 5) Finally, if you are using a NY LLC to earn money in another state let me know which state because we should register your LLC to do business in that state.

https://www.linkedin.com//bizpayo_the-10-most-important-qu

Never too early to learn about banking & finance

Shout out to 212 Tax & Accounting Services for winning Top 5 LocalBest Accountants in New York! YOU have the opportunity to keep this business in the Top 5 or w...in LocalBest by heading to https://localbest.com/businesses/detail/10331296 and voting for them again in our 2020 contest. #LocalBest #LocalBestTop5 #Accountants See more

People often think they can just buy/rent a home and/or form an entity in a state to establish a tax home there. Not true at all. Click here: https://www.accountingweb.com//do-you-know-where-your-tax-