Tax Changes for 2020 You Need to Know

November 8, 2019

The Internal Revenue Service released its annual inflation adjustments for tax year 2020. This includes more than 60 tax provisions as well as tax rate schedules and other changes. Standard Deduction: The standard deduction for married filing jointly increases to $24,800 for tax year 2020, up $400. For single taxpayers and married individuals filing separately,…

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Buchbinder Tunick Named a Top Firm by INSIDE Public Accounting

August 7, 2019

Buchbinder is proud to be recognized as a 2019 Top 200 Accounting Firm in the country by INSIDE Public Accounting. INSIDE Public Accounting is an award-winning newsletter for the public accounting profession. Now in its 29th year, the annual ranking is based on firms’ U.S. net revenues and are compiled by analyzing responses from IPA’s…

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New York – Internal Revenue Code Changes for 2018 and After

February 7, 2019

The link below addresses areas where New York’s tax treatment of certain federal items of income and deductions will now differ for tax years 2018 and after. Department of Taxation and Finance (Technical Memorandum) If you have any questions or concerns, please contact one of our tax partners. We are here to help you navigate…

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IRA employee benefits

The Pros and Cons of a Roth IRA Conversion

January 2, 2019

Most people recognize that Roth IRAs offer some significant tax advantages over traditional IRAs. For example, qualified Roth IRA withdrawals are free from federal income tax. In addition, unlike with traditional IRAs, there is no need to start taking required minimum distributions (RMDs) from Roth IRAs after reaching age 70½. This allows the assets held…

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tax advisors

Standard Mileage Rates for 2019

December 17, 2018

The IRS just issued the 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. These will go into effect on January 1, 2019. Follow the link below to learn more and please contact one of our tax partners with any questions or…

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employee benefits

Effect of TCJA Employee Benefits Changes – Consequences to Your Business

December 10, 2018

The Tax Cuts and Jobs Act (TCJA) has created several changes to the tax treatment of employee benefits. It was not signed into law until December 2017, making it difficult for many employers to have adjusted their benefits offerings for 2018.  Even so, they will need to understand how the new law will affect their…

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