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Accountable Advisor Newsletter

January 11, 2018

  • Many Business Will Celebrate Tax Cuts
  • Tax Reform: Topics of Special Interest for Individuals
  • Talking to Loved Ones About Your Estate Plans


December 6, 2017

  • Bad Debt Losses: Can You Deduct Loans Gone Bad?
  • Take This Important Estate Planning Step Now
  • Avoid Discrimination in Your Dress Code


November 15, 2017

  • Retirement Account Catch-Up Contributions Can Add Up
  • Open Enrollment: Sign Up For Tax-Smart Benefits Before the Deadline
  • Are Bonds the Right Investment Choice?


October 25, 2017

  • Recent Incidents Fuel Concerns Over Breach Response
  • Building Block: Understanding the Alternate Valuation Date
  • Design a Winning Logo


October 4, 2017

  • Could Travel Per Diems Simplify Employee Expense Reimbursements
  • Checking Up On Your Credit Report
  • The Employer’s Role in Documenting Workers


September 14, 2017

  • Report Warns Retirees About Potential Downside of Reverse Mortgages
  • IRS Guidance on Leave-Staring Programs to Help  Hurricane Harvey Victims
  • Succeeding at Business Succession


August 23, 2017

  • Real Estate Investors: Let’s Talk about Like -Kind Exchanges
  • How to Find a Lost Insurance Policy
  • No Current Deductions Before Business Commences


August 2, 2017

  • Understanding Your Social Security Retirement Benefits
  • What is the Value of Your Business?
  • Unsolicited Fax Advertisements


July 12 2017

  • Hockey Team’s Meal at Away Games Were a De Minimis Fringe Benefit
  • Why Partnership Tax Status May Sometimes Be Unwanted
  • How to Find a Lost Life Insurance Policy


June 21, 2017

  • Can Your Research Credits Offset Your Payroll Tax Bill?
  • Financial Strategies in a Post-DOMA World
  • Smart Ways to Handle Off-Site Employees


June 1, 2017

  • Reclassifying Business Expenses as Constructive Dividends
  • Are Contingent Attorneys’ Fees Tax Deductible
  • Take Steps to Protect Your Information From Cyber Criminals


May 10, 2017

  • 10 Simple (And Fun) Ways to Cut Taxes This Summer
  • Planning for Special Needs Children
  • Deadlines Have a Powerful Marketing Effect


April 19, 2017

  • The Ins and Outs of Deducting Legal Expenses
  • Spring Cleaning: When Can You Purge Your Old Financial Records
  • Insurance Policies May Fall Short If Not Updated Annually


March 29, 2017

  • Remember the New FBAR Filing Deadline
  • Test Your Estate Strategy Knowledge
  • Guard Against Age-Bias Suits When Downsizing


March 8, 2017

  • 5 Signs Your Small Business is Ready for a CPA
  • There’s Still Time to Set Up a SEP for 2016
  • Leaving Town? Here’s a Financial Planning Checklist


February 15, 2017

  • Individual Education Tax Incentives
  • Remember RMDs this Tax Season
  • A Living Trust Primer


January 25, 2017

  • An Update on the Proposed Section 2704 Regulations
  • IRS Reports a Significant Increase in Whistleblower Awards
  • IRS Updates FAQs on Certain ACA Provisions


December 21, 2016

  • Thank You for Your Business
  • Employee, Partner or Both? Recent Developments Help You Decide
  • The Need for a Durable Power of Attorney


December 7, 2016

  • Spotlight on Business Tax Trends
  • Debt of Equity? New Guidance Helps You Decide
  • Insuring Your Kids in College


November 16, 2016

  • New Date! Proposed Regulations Under IRC Section 2704
  • Get Ready Businesses:  Some Filing Due Dates Are Changing
  • It’s Time for Individuals to Plan for Taxes in 2016 and Beyond


October 26, 2016

  • Proposed Regulations Under IRC Section 2704
  • IRS Issues New Regs on Allocating Debt to Partners and LLC Members
  • New IRS Regs on Disguised Sales Affect Partnerships and LLCs


October 5, 2016

  • Spotlight on Gains from Qualified Small Business Stock
  • IRS Publishes Travel Per Diem Rates for Fiscal Year 2017
  • Yours, Mine and Ours:  Estate Strategies for Second  Marriage


September 14, 2016

  • Loan Applications: Put Your Best Foot Forward
  • A Primer on Financial Aid
  • Workplace Dress Code: A Delicate Balance


August 24, 2016

  • Tax -Savvy Planning Strategies for Inherited IRAs
  • Thinking Through a QTIP Trust
  • Tee Off for Success


August 3, 2016

  • 7 Tax -Savvy Ways to Give to Charity
  • Don’t ‘Deworseify’ When You Diversify
  • Follow Detailed Recordkeeping Rules for Vehicle Expense Deductions


July 13, 2016

  • Brexit is a Reality – Now What?
  • New IRS Guidance for Designated Roth Accounts
  • IRS Charitable Donations: An Alternative to Taxable Required Distributions


June 22, 2016

  • Certification Announcement
  • Midyear Planning for Vacation Home Rentals with Significant Personal Use10 Midyear Tax Planning
  • Do You Own a Vacation Rental Home with Limited Personal Use?


June 1, 2016

  • Certification Announcement
  • 10 Midyear Tax Planning Moves Inspired by the PATH Act
  • Will Your Estate Be Distributed as Intended?


May 12, 2016

  • Made In America: The Pursuit of Life, Liberty and Global Opportunities
  • Let an Umbrella Policy Be Your Safety Net
  • Strictly Speaking: Travel and Entertainment Recordkeeping


April 20, 2016

  • Are You Using Chip Cards Yet?
  • Too Much Paperwork? What You Can Throw Away After Filing
  • What is An Intentionally Defective Trust?


March 30, 2016

  • Is the IRS Targeting Partnerships?
  • Help a Friend Maneuver Out of Debt
  • Nurture Understanding Between Generations for a Peaceful Workplace


February 18, 2015

  • 10 Facts You Should Know about the Do Not Call Registry
  • Saving for your Child’s Education With a Section 529 Plan
  • ‘Loan Payments’ Can be Taxable Corporate Distributions to Shareholders


January 27, 2016

  • 10 Elections that can Save Money on Your 2015 Federal Taxes
  • Cut College Costs by becoming a Landlord
  • Managing Your Business through a Crisis: 6 Steps to Success


January 5, 2016

  • Important Tax Figures for 2016
  • Good News in the New Year: IRS  Extends ACA Filing Deadline
  • Age 50 or Older? Consider Extra Reimbursement Contributions


December 16, 2015

  • Complying with the New-and-Improved Telemarketing Sales Rule
  • Tax Consequences of Borrowing From a Retirement Plan
  • Keep a Tight Rein on Branch Operations


November 25, 2015

  • What You Need to Know About Identity Theft
  • Happy Thanksgiving!
  • Could Buying a Heavy SUV, Pickup or Van Help Save Taxes?


November 4, 2015

  • Save the Date: International Fraud Awareness Week
  • Idea: Roth IRAs as an Estate Planning Tool
  • Develop a Strong Hand to Negotiate Loan Covenants


October 14, 2015

  • Doing Business with China: Opportunities and Concerns
  • Social Security Speeds Up Disability Payments for the Terminally Ill
  • Help Avoid Costly Age Discrimination Claims


Sept 25, 2015

  • A Recipe for Deducting meals, Parties and Gifts Provided to Employees
  • Beware of Scams Surrounding Long-Term Care Coverage
  • A Dozen Ways to Negotiate Better


July 22, 2015

  • DOL Gets Tough on Independent Contractor Classification
  • Form SS-8: How Should You Handle Worker Classification
  • Looking For a New Home?


July 1, 2015

  • MSPC Dunks for the Wounded Warrior Project
  • MSPC Attends Leadership Program at Harvard Business School
  • Recent Supreme Court Cases That May Affect Your Business


June 10, 2015

  • Rules on Deducting Business Start-Up Expenses
  • Stay on Top of Retirement Tax Angles
  • Make your Workplace Drug Free


May 20, 2015

  • Minimizing Your Rise of Cyber Breach
  • Estate Management Checklist
  • Avoid Damage from Disgruntled Ex-Employees


April 29, 2015

  • Do You Keep Adequate Records for Charitable Contributions?
  • Saving For Your Child’s Education With a Section 529 Plan
  • Seize Trade Show Opportunities


April 8, 2015

  • How to Tap into the Millennial Market
  • Last-Minute Personal tax Filing Reminders
  • Take this Important Estate Planning Step Now


March 18, 2015

  • Industries that Could be Booming as the baby Boomers Age
  • Coming Soon: ABLE Accounts for Disabled Individuals
  • Make Lemonade Out if a Lemon Car


February 25, 2015

  • Achieving Success: Growth through Acquisition
  • The IRS Simplifies Repair Regulations for Small Businesses
  • Employers Get Extension on Work Opportunity Tax Credit Paperwork


February 4, 2015

  • 2014 Federal Tax Returns: Something Borrowed, Something New
  • Estate Planning to Minimize Federal Income Taxes
  • Panic Proof Your Investment Strategy


January 14, 2015

  • Congress Renews Business Terrorism Insurance Protection
  • Ten Tax Breaks Available for Parents
  • Prenuptial Agreements as an Estate Planning Tool


December 11, 2014

  • Hosting Holiday Parties that Even the Grinch Would Enjoy
  • The ABCs of Estate Planning
  • Savor Business Entertainment Tax Breaks


November 19, 2014

  • Impact of Expired Incentives on Tax Planning
  • Test Your Fraud IQ
  • IRS Issues Clarification of Once-a-Year IRA Rollover Limit


October 29, 2014

  • Common 401k Plan Management Mistakes
  • Ten Year-End Tax Planning Ideas for Individuals
  • SEC Crackdown: How Effective Are Your Anti-Fraud Controls?


October 9, 2014

  • Answers to Your Questions About Wage Garnishment
  • Dividing Assets in the Family
  • Turn More Salespeople into Superstars


September 10, 2014

  • Complimentary Access to Build Expo for Friends of MSPC
  • Toeing the Fine Line Between Employees and Independent Contractors
  • Protect Yourself Against the Latest Phone Scam


July 31, 2014

  • Lisa and Tom Go To Summer Business Camp
  • Conflicting Court Rulings involving ACA Tax Subsidies in Some States
  • Need a New Vehicle? Save Money with Hot End-of-Summer Deals


June 19, 2014

  • What is Cyber Liability Insurance and Does My Business Really Need it?
  • Summer Travel: Tips for Saving Money and Possibly Taxes
  • Managing the High Cost of Higher Education


May 28,  2014

  • Ready, Set, Bowl! MSPC Supports Junior Achievement Program to promote financial literacy
  • Certification Announcement – Michael Berger
  • New Fraud Study: How Can Your Organization Prevent Losses?


May 7,  2014

  • The Fantastic Four
  • Deadline Coming Up to Report Foreign Account Holding
  • Getting Married: Your Financial ‘Honey-Do’ list


  • April 16, 2014
  • Tame the Variable Interest Rate Rollercoaster
  • Eight Tips to Protect Yourself Online
  • The Basics of QPRTs


March 26, 2014

  • MSPC Supports World Kidney Day!
  • Help Protect Against ‘Skimmer Fraud’
  • Another Alternative to GAAP for Private Companies


March 6, 2014

  • What is ‘Saas” (“Software as a Service”)
  • MSPC Peer Review Announcement
  • Equity Crowdfunding Could Affect Private Business Value


February 12, 2014

  • Patrick Trombetta named 2013 Soccer Coach of the Year
  • What is Business Intelligence and Why Should You Care?
  • Smart Device Users Beware: Fraud May Be Just a Click Away


December 11, 2013

  • Wrap Up Last-Chance Tax Breaks for 2013
  • Top Executives Often Escape Indictment for Fraud
  • Your Children and Estate Planning


November 20, 2013

  • Year-End Tax Planning Strategies for Small Businesses
  • Higher Income Taxpayers: Open the Door to a Roth IRA
  • Nursing Home Fraud: Studies Expose a Lesser-Known Risk


October 30, 2013

  • A Made-in-the-USA Comeback (Video)
  • Gearing Up for Next Year’s Tax Season
  • 9 Bight Year-End Tax Planning Strategies for Individuals


October 9, 2013

  • Tis (Almost) the Season for Gift and Estate Planning
  • Pet Industry Helps Wag the Economy
  • Tax Planning When Saving for Your Kids’ Education


September 18, 2013

  • Financial Reporting Framework for Small and Mid-Sized Entities
  • Retaining Talented Workers
  • What Do Today’s Parent Spend on Raising a Child?


August 28, 2013

  • MSPC Paying it Forward!
  • My Internship in Public Accounting
  • Happy Labor Day from MSPC!


July 17, 2013

  • Understanding How the New Medicare Tax Affects Individuals
  • The Impact of the Medicare Tax on Partnerships and S Corps
  • Do you Need a Living Trust?


          July 3, 2013

  • MSPC Charity Golf Outing
  • Fourth of July Announcement!
  • Tax Implications in the Supreme Court DOMA Case
  • How the Supreme Court Rulings Affect Employee Benefit


June 5, 2013

  • Controlled Group Analysis Is the key to Complying with Benefits Rules
  • June 17 Deadline for Some Taxpayers with Foreign Assets
  • Keep Workspaces Dry and Safe
  • Save Time and Money: Pre-Screen Recruits with 5 Questions


May 15, 2013

  • Audits of Employee Benefits Conference
  • Congratulations to Michael Berger!
  • Update on the Section 179 Deduction Tax Break
  • Deadline Coming Up to Report Foreign Account Holdings


April 24, 2013

  • Cash vs. Accrual – Which Accounting Method is Right for Your Company?
  • “What’s Cooking Jon?”
  • Getting a Waiver of the 60 Day IRA Rollover Rule
  • Are Wills for Everyone?


April 3, 2013

  • MSPC Gives Back in New Orleans
  • MSPC Donates Gift Baskets to Local Schools
  • MSPC Lights It Up Blue!
  • Will the Healthcare Law Increase Your Costs?


March 13, 2013

  • Health Insurance and Medical Expenses: What Can You Deduct?
  • Estimated Taxes: Pay as You Go or Pay the Price
  • Making Provisions for Minor Children
  • What to Do with Impossible Employees? Clean House


February 20, 2013

  • Understanding the Health Benefit ‘Pay or Play’ Decision
  • Get Ready for Required Direct Deposit of Federal Benefit Payments
  • Tax Consequences of Borrowing From a Retirement Plan
  • Checklist for a Successful Sales Flight


January 9, 2013

  • Highlights of the American Taxpayer Relief Act of 2012
  • Tax Changes for Individuals in the ‘Fiscal Cliff’ Law’
  • New Law Brings Back Many Popular Business Tax Breaks
  • How Spouses Should Handle Inherited IRAs


December 19, 2012

  • A Holiday Message from James J. Flannery
  • “What’s Cooking Jon?”
  • Meeting Your 401(k) Fiduciary Obligations with a Focus on Fees
  • Four Financial Moves that Could Involve Pitfalls


October 10, 2012

  • Avoid Taxmageddon: Year-End Planning for Real Estate Owners and Investors
  • Tax Responsiblities After Someone Dies
  • Navigating the Social Media Minefield
  • Employ Joint Tax Liability for Leased Employees


September 19, 2012

  • Where’s the Risk in Risk-Based Auditing?
  • What Do Bankers Look at During a Business Loan Review?
  • Why Social Media is a ‘Legal Minefield’ for Employers
  • Employers: Stay in Step With New SBC Requirements


August 29, 2012

  • Impairment Testing of Indefinite – Lived Intangible Assets
  • Labor Day Announcement!
  • Charitable Gifts of Property
  • The EU ‘E-Privacy Directive’ and How it Affects Websites


August 8, 2012

  • Best Practices for CPAs When Facilitating a Loan Approval Process
  • Windows XP SP3 and Office 2003 Support Ends April 8, 2014!
  • New Medical Loss Ratio Rules May Provide Consumers with Rebates
  • Medicare Premiums Count for Self-Employed Health Insurance Deduction


July 18, 2012

  • Six Issues For Businesses to Consider When Managing Remote Employees
  • Estate Planning When Your Spouse is Not a U.S. Citizen
  • Hire the Right Person – And Stay Out of Trouble Doing It
  • The Effects of Venture Capital Constriction


June 27, 2012

  • “What’s Cooking Jon?”
  • Happy Fourth of July
  • Has Your Caller ID Been Taken Over by Criminals?
  • IRS Issues Guidance for Healthcare FSAs


June 6, 2012

  • MSPC attends YMCA Regional Finance Conference
  • Annual Corporate Bowl-a-thon for Junior Achievement
  • Tax Identity Theft Is a Growing Problem
  • Criminal Background Checks Can Be a Tightrope Act for Employers


May 16, 2012

  • David Evangelista Elected NYSCPA Vice President
  • Accounting for Income Taxes 101
  • Estate Tax Update: Here We Go Again
  • Inheriting Money? The Best Way to Handle it


April 25, 2012

  • Q1 2012 Update to Lessee Accounting
  • Jobs Act: The SEC Releases Q&A Guidance
  • Should You Review Your Estate Plan
  • Avoid Damage From Disgruntled Ex-Employees For a New Home?


April 4, 2012

  • Navigating Between Dual Financials
  • CPA Comfort Letter to Lender
  • What the Healthcare Reform Law Could Mean For You
  • Looking For a New Home?


March 14, 2012

  • Expanding Reporting Requirements by Brokers for 2011 Security Sales
  • MSPC Helps Verizon’s Hope Line Program
  • IRS Provides Penalty Relief to Unemployed and Struggling Taxpayers
  • Business Tax: Final Regs on Partnership Debt-for-Equity Exchanges


February 22, 2012

  • Favorable Tax Treatment for New Asset Acquisitions
  • Congratulations to David Evangelista
  • Security Passphrases For The Everyday User
  • Answers To Your Questions About Marital Status and Tax Returns


February 1, 2012

  • The Affordable Care Act Helps Businesss Employers Who Provide Health Insurance Coverage for Their Employees
  • Become Familiar with New Cost Basis Rules When Reporting Stock Sales
  • Discrimination Charge Against Employers Reach an All-Time High


January 11, 2012

  • New Reporting Requirements for U.S. Taxpayers with Foreign Assets
  • New EEOC Claims: Be Aware of When Disability Discrimination Occurs
  • Court Backs Employer and Rejects Five-Year Overtime Claim


December 21, 2011

  • A Holiday Message from James J. Flannery
  • Tis’ the Season for Giving
  • Standard Mileage Rates for 2012 Released


November 23, 2011

  • Client Alert: New e-payment mandate for NYS corporate estimates
  • What’s Cooking Jon?
  • Happy Thanksgiving from MSPC
  • New Law Expands Credit for Hiring Military Veterans


November 2, 2011

  • Tax Update!!! Credits, Deductions and Exemptions Change for 2012
  • Tax-Saving Depreciation Moves for Businesses Before December 31
  • Year-End Tax Planning Strategies for Individuals
  • Investment Moves to Consider Before December 31


October 12, 2011

  • Goodwill Codification Revision – A Mixed Bag
  • The Art of Smart Management in Today’s Economy
  • New Guidance is Issued on Employee Whistleblower Investigations
  • Union-Rights Posting Rule Delayed


September 21, 2011

  • Taxation of Business Travel Expenses
  • Summer Internship in Public Accounting
  • IRS Guidance: How to Get Tax-Free Treatment of Cell Phones
  • Doing Business in Canada? U.S. Companies Must Comply with New Spam Law


August 10, 2011

  • Is it Time For Private Company Accounting Standards?
  • Lessee Accounting – Significant Changes Are On The Horizon
  • Congratulations Sherryll Penney!
  • Update on Tax Credits for Energy-Efficient Home Improvements


July 20, 2011

  • IRS Offers Amnesty Program for Undisclosed Offshore Assets
  • Businesses: How to Comply with the CAN-SPAM Act
  • IRS Issues Guidance Outling New Rules for Foreign Accounts
  • A Little Appreciation Goes a Long Way


June 29, 2011

  • MSPC Supports the Arts
  • Supreme Court: New Roadblock to Class Action Lawsuits
  • IRS Boosts Standard Mileage Rates for Second Half of 2011
  • There Can be Gold in Run-Down Houses


June 8, 2011

  • Corporate Bowl-a-thon for Junior Achievements
  • Congratulations Brian Costello
  • Employers: 14 Ways Wage-Hour Laws Can Create Risks
  • Discussing Inheritances with Heirs


May 18, 2011

  • MSPC Enrolled As a Peer Review Firm
  • MSPC Participates in the Young Professional Kickball Tournament
  • New Case Limits SOX Whistleblowers
  • Hiring Interns this Summer?


April 27, 2011

  • New IRS Guidance on First-Year Bonus Depreciation
  • IRS Relaunches Pilot Program for Tax IDs
  • Should You Serve as Executor?


March 16, 2011

  • Ready..Set..Ski!
  • Aid to Afghanistan
  • Achieve Sustainable Cost Cutting at Your Organization
  • Private Companies Need Modified Standards, Not Separate Rules


February 23, 2011

  • Industry CPAs in a New Health Care Era
  • Supreme Court: Third-Party Employees Can Sue for Retaliation
  • When a Spouse Inherits an IRA
  • Defending the Status of Independent Contractors


January 12, 2011

  • A Farewell Message: Joseph Corcoran
  • Strategic Estate Planning under the New Tax Rules
  • Doing the Time for Tax Crimes
  • Being Ready For a Disaster Can Pay Off


December 8, 2010

  • MSPC Principal named NJ Prep Coach of the Year For High School Soccer
  • Size Does Count
  • Tax-Saving Moves for Individuals at Year End
  • Feds Relax the Rules on Grandfathered Health Plans

BizActions: April 27, 2011

  • New IRS Guidance on First-Year Bonus Depreciation
  • IRS Relaunches Pilot Program for Tax IDs
  • Should You Serve as Executor?
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