If you’re like us, you have certain TV shows that you are totally invested in and can’t wait until the next episode comes out.  Unless you are a masochist, that is probably not the case with respect to the weekly regulation updates coming out from DOH on the...

For many, work and their co-workers can be like a family. As such, there are instances where employees may wish to “donate” earned paid time off (PTO) to other employees who may need it, typically to cover some sort of long-term medical condition or other emergency. This benefit is designed to be altruistic and allow co-workers to help another in need. Programs like this are especially popular now given the COVID-19 pandemic and the need to quarantine and isolate and to deal with potential long-term repercussions of the disease. However, there can be unseen tax consequences to these programs.

For those of you who filed for a Paycheck Protection Program (PPP) Loan, you remember the early days of the application process were marked by conflicting information, short deadlines, potential exposure, and more.   As time went by, the regulations loosened up and...

The Inflation Reduction Act was signed into law by President Biden on August 16, 2022.  The bill came as a surprise to many as it appeared somewhat out of nowhere after it was believed any legislation was politically dead.  We discussed the provisions of the act when...

*Information as of August 17, 2022* Ken Cerini, Managing Partner and Edward McWilliams, Tax Partner of Cerini & Associates, LLP gave a background of the Healthcare Worker Bonus and answered participant questions. General Program Background:- Healthcare Worker...

IT and Cybersecurity Concerns Cerini Short In this Cerini Short, Shari Diamond, CIA, Partner explains the importance of cybersecurity and introduces our IT Guidebook.

Internal Controls Cerini Short In this Cerini Short, Nicholle Mezier, CPA, Manager explains Internal Controls. WHAT ARE INTERNAL CONTROLS? WHY DO WE NEED THEM? Internal controls are one of the most essential elements within any organization. Internal controls are put...

What are internal controls? Why do we need them?
Internal controls are one of the most essential elements within any organization. Internal controls are put in place to enable organizations to achieve their goals and missions.

As it becomes harder to attract and retain talent and also to help deal with soaring inflation, many employers are looking for ways to provide employees with tax-free benefits in order to entice employees to join or stay and help mitigate the impact of the rising costs. However, both employers and employees need to be aware that even despite their best intentions, many benefits or incentives can be considered taxable income – which from the employer side would require both withholding and reporting and would be includable in income for employees.

In what many political pundits are calling one of the most surprising and unlikely outcomes ever, Senators Schumer and Manchin have finalized negotiations on a new bill which would include several tax proposals.  The new bill, called the “Inflation Reduction Act of...