Jeffrey W. Hanretty, CPA & Associates

If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors and employees. Do you know the difference? Follow this link for more information:

Are you taking care of an elderly parent or relative? Whether it's driving to doctor appointments, paying for nursing home care or medical expenses, or handling their personal finances, dealing with an elderly parent or relative can be emotionally and financially draining, especially when you are taking care of your own family as well. Fortunately, there is some good news. You may be able to claim your elderly relative as a dependent at tax time, as long as you meet certain criteria. Check out what you should know about claiming an elderly parent or relative as a dependent:

January 27, 2020, marked the start of this year's tax filing season. Complicating matters is a newly revised Form 1040, U.S. Individual Income Tax Return. With more than 150 million individual tax returns expected to be filed for the 2019 tax year, check out this article to find out what you can expect:

It’s January and tax filing deadlines are right around the corner. For many people that means scrambling to collect receipts, mileage logs, and other tax-related documents needed to prepare their tax returns. If this describes you, chances are, you're wishing you'd kept on top of it during the year so you could avoid this scenario yet again. With this in mind, find seven suggestions here to help taxpayers like you keep good records throughout the year. As always, should you need further assistance, contact us! [email protected] (315)733-4339

What challenges do you face?? My company’s books are a nightmare. I don’t know where to start! I’m spending all my time managing payroll for all my employees.... I use QuickBooks, but I’m not sure I’m getting the most out of my software. I made a mistake on my taxes, and now the IRS has turned my life upside-down. I need help planning my family’s financial future. If you are facing any of these challenges and need guidance, we’re here to help! Contact us today: 315-733-4339 [email protected]

It’s tax season! Are you in need of an Accountant? We offer a variety of services for Individuals and Businesses - Payroll, QuickBooks Services, Tax Preparation, Tax Planning, and Personal Financial Planning, to name a few. Check out our full list of services offered here: Contact us for a FREE initial consultation! ... Phone: (315) 733-4339 E-mail: [email protected]

While the 2020 tax filing season promises to be less confusing than 2019, there are still a number of changes that taxpayers should be aware of. Find out those changes here:

Minimum wage is increasing! How many of your employees are paid minimum wage? Are you prepared for the increase? Check out the minimum wage increases by state here:

Storing tax records: How long is long enough? Federal law requires you to maintain copies of your tax returns and supporting documents for three years. This is called the "three-year law" and leads many people to believe they're safe provided they retain their documents for this period of time. However, if the IRS believes you have significantly underreported your income (by 25 percent or more), or believes there may be indication of fraud, it may go back six years in an audit. Find record retention safe practices for Individuals and Businesses here:

Did you know educators can take advantage of tax deductions for qualified out-of-pocket expenses related to their profession such as classroom supplies, training, and travel? Check out our newsletter for more information:

Taxpayers using optional standard mileage rates in computing the deductible costs of operating an automobile for business, charitable, medical or moving expense purposes should be aware of an updated set of rules. Do you use the standard mileage rates? Check out the updated rules:

As we close out the year and get ready for tax season, here's what individuals and families need to know about tax provisions for 2019:

The key to avoiding headaches at tax time is keeping track of your receipts and other records throughout the year. Check out these tips for small business owners! For more information on what kind of records to keep or assistance on setting up a record-keeping system that works for you, contact us!