Long Island Business

Franchise Quarterbacks, Game Changing Results

Franchise QB or a Game Manager: Who do you have leading your IRS audit representation team? With Superbowl LI upon us, we have a great matchup between the Atlanta Falcons and the New England Patriots. One thing these two teams share in common is their superb...

2018 Executive Budget Release – Housing and Homelessness Update

On January 17th, 2017 Governor Andrew Cuomo released his 2018 Executive Budget proposal. The proposal outlines spending in areas important to the housing community. The following outlines the $2.5 billion 2018 budget proposal by area of funding related to housing...

Guest Article: New York State Executive Order 18 | Are You in Compliance?

On May 5, 2009 New York State Executive Order 18 was passed with the purpose of eliminating public tax dollars being spent on bottled water. It seeks to alternatively promote the usage of tap water. The order includes ceasing the purchase of single serve water bottles...

The 2017 Cures Act and Other Tax Updates You Need To Know…

Just this Tuesday, December 13, 2016, President Obama signed off on the 21st Century Cures Act that becomes effective January 1, 2017. This Act creates the possibility of small employers to offer their employees a Qualified Small Employer Health Reimbursement...

Guest Article: Overpaying Workers’ Comp?

People are the most valuable resource and should be protected. Injuries and illnesses in the workplace should be prevented whenever possible; however, not all can be. Workers’ compensation insurance is complex and expensive. It involves people, injuries, illnesses,...

What a Trump Presidency May Mean for Your Taxes

On November 8th, 2016, Donald Trump was elected the 45th President of the United States of America. A major focus of this election season has been taxes – both his refusal to release his personal returns and his plan to change the current US tax code. In addition to...

Top 10 Year End Tax Tips

As we reach the cooler months of November and December and the holiday season, it is important for taxpayers to begin to understand what their tax liabilities will be for the year and to undertake efforts to lower their tax bill for the year. While certain deductions...

Guest Article: Can your Retirement Plan Drive Itself?

On Thursday, October 20th, Elon Musk – CEO & Founder of Tesla Motors made a historic announcement that will forever change the face of driving(1). They will begin delivering fully autonomous cars by as early as end of 2017 (naturally legally dependent)! That’s...

Developing and Using Key Performance Indicators for Your Business

A Key Performance Indicator or KPI is a metric that business owners and decision makers (collectively referred to as owners) can use in order to help evaluate the current performance of their operations, allowing them to set strategies and identify areas where they...

New IRS Scams and Tips to Protect Yourself Against Them

Recently, IRS scammers are increasing their sophistication. Here are some important tips to protect yourself. 2016 has seen a marked rise in phishing attempts, scammers posing to be the IRS attempting to exploit on people’s fear of owing the IRS. The majority of these...
R&D Payroll Tax Credit

R&D Payroll Tax Credit

With the passage of the Protecting Americans from Tax Hikes Act of 2015, hereinafter the PATH Act, many parts of the tax law were changed. Most notably, the PATH Act made section 179 expensing permanent, changed numerous depreciation provisions, and delayed the...

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Does Your Work Environment Help or Harm You?

Does Your Work Environment Help or Harm You?

Employers are constantly in pursuit of discovering new innovative ways to increase productivity and profits. While many potential methods exist to achieve amplified profits, one attention-grabbing technique is to improve the quality of environmental conditions in...

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Motivate Your Employees During the Dog Days of Summer

Motivate Your Employees During the Dog Days of Summer

During the winter, when it’s cold and dark, people don’t mind being indoors and getting work done, but in the summer, when the weather and the sunshine are calling, how do you keep your employees motivated and focused? I don’t know about you, but during the summer, I...

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Smart Phone, iPhone; Smart Form, I-9?

Smart Phone, iPhone; Smart Form, I-9?

It’s official! On January 22, 2017, paperwork took a change. For better or worse you ask? Well you decide. The United States Citizenship and Immigration Services (USCIS) has caught up with technology (in some sense) and smart-ified the Form I-9 (the Employment...

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S Corporations and Transactions with Shareholders & ESOPs

S Corporations and Transactions with Shareholders & ESOPs

On June 13, 2017, the U.S. Tax Court reached a decision of first impression on the relationship between an Employee Stock Ownership Plan (ESOP), its employees, and the corporation. The case conclusion was that the participants of the ESOP (the employees) are...

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Lead Your Business Like a King or Khaleesi

Lead Your Business Like a King or Khaleesi

**SPOILER ALERT: If you haven’t seen Season 6 of Game of Thrones yet, you may not want to read ahead.** Eventually, Eddard Stark was bound to be correct. Winter is here. Everything is on the line. You have stared into the abyss, and you see that war and annihilation...

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New York’s New Family Paid Leave

New York’s New Family Paid Leave

Effective January 1, 2018, New York State employers will be required to provide their employees with eight weeks of Paid Family Leave (PFL). This applies to all private employers (public employers are exempt). PFL is a wage replacement program fully funded by the...

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Business Lessons Learned from Our Fathers

Business Lessons Learned from Our Fathers

Reflecting after this Father’s Day, a few of the staff at Cerini & Associates have collated some of their favorite and inspirational quotes, lessons, and tidbits from their fathers. As the old adage goes, “Father knows best.” Or perhaps “the apple does not fall...

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