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Earlier this year New York State introduced an optional 'Pass-through entity tax ("PTET")' that partnerships or New York S Corporations may annually elect to pay on certain income for tax years beginning on or after January 1, 2021. This type of tax has been enacted by a number of states and is…
Football season will be kicking off soon. Beware: If you participate in fantasy sports leagues for money, there may be tax implications related to these activities.
For instance, you may enter fantasy sports competitions offered by sponsors like FanDuel and DraftKings where you can win or lose…
Payroll Protection Plan (PPP) loans were a lifeline for many small business owners during the worst of the pandemic-driven economic slowdown. In total, the Small Business Administration (SBA) approved nearly 12 million PPP loans, averaging $67,000.
The PPP program stopped accepting loan…
FustCharles LLP, Certified Public Accountants has been recognized by Accounting Today as one of the 2021 Best Accounting Firms to Work For!