Taxation of NYS Healthcare Worker Bonus Cerini Short In this Cerini Short, Edward McWilliams, CPA, Partner talks about the Taxation of the NYS Healthcare Worker Bonus. Included as part of the 2022/23 budget for New York State was a provision allowing for Healthcare...

Bonus for NYS Healthcare Workers Cerini Short We have been hearing for months about New York State making certain bonuses available to direct healthcare workers of up to $3,000 each. Governor Hochul allocated $1.2 billion from the State's 2022/23 budget for the...

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...

Taxable vs Nontaxable Benefits Cerini Short In this Cerini Short, Edward McWilliams, CPA, Partner talks about the Taxable vs Nontaxable Benefits. As it becomes harder to attract and retain talent and also to help deal with soaring inflation, many employers are looking...

Interest Assessment Surcharge Cerini Short In this Cerini Short, Edward McWilliams, CPA, Partner talks about the Interest Assessment Surcharge. The COVID-19 Pandemic led to an immediate and unprecedented level of unemployment between March 2020 and September 2021 in...

The New York State Department of Labor (DOL) has begun to mail out notices to employers in July 2022 called an Interest Assessment Surcharge (IAS), which will be used to cover the interest on these loans.

As part of the 2022-23 NYS Budget NYS included a new $250 million program called the “COVID-19 Capital Costs Tax Credit Program” designed to assist small businesses who incurred costs as part their response to the COVID-19 Pandemic. Details of this program were finally made clearer on June 28, 2022.

First recognized as a syndrome in 2019 by the World Health Organization (WHO), burn-out has been on the rise for a number of years. While tight deadlines, high pressure, and stress have been part of working culture since the times of Henry Ford, the COVID-19 Pandemic,...

Many contractors are always looking for different ways to expand and grow. Energy efficiency incentives have been on the rise for years and many developers are looking to include these in upcoming projects both as responsible corporate citizens and to unlock these...