Tax Planning Archives https://tysllp.com/category/tax-planning/ Trusted Advisors and Accountants Tue, 20 Jan 2026 21:39:57 +0000 en-US hourly 1 https://tysllp.com/wp-content/uploads/2020/07/TYS-Favicon-copy-75x75.png Tax Planning Archives https://tysllp.com/category/tax-planning/ 32 32 CPA in NY Specializing in Business Structures https://tysllp.com/cpa-in-ny-specializing-in-business-structures/?utm_source=rss&utm_medium=rss&utm_campaign=cpa-in-ny-specializing-in-business-structures Sun, 01 Feb 2026 18:59:33 +0000 https://tysllp.com/?p=5542 🏛️ Smart Start: Why You Need a CPA in NY for Optimal Business Structures What is the advantage of choosing a CPA in NY specializing in business structures? The initial choice of business structure—such as LLC, S-Corp, or C-Corp—determines your tax liability and personal asset protection for the company’s entire lifespan. Therefore, you need a CPA in NY with specific ... Read More

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]]> Maximizing Growth: A Guide to the New Business Investment and Provisions of the OBBBA https://tysllp.com/maximizing-growth-a-guide-to-the-new-business-investment-and-provisions/?utm_source=rss&utm_medium=rss&utm_campaign=maximizing-growth-a-guide-to-the-new-business-investment-and-provisions Tue, 20 Jan 2026 14:15:53 +0000 https://tysllp.com/?p=5642 The business investment and provisions of the One Big Beautiful Bill Act (OBBBA) permanently codify 100% bonus depreciation and the Section 199A deduction. These changes allow business owners to immediately expense capital assets and reduce taxable income by 20% for pass-through entities. Consequently, these provisions provide long-term certainty for domestic R&D and capital scaling. What are the Permanent Business Investment ... Read More

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]]> How to Detect and Avoid the Latest IRS Refund Scam https://tysllp.com/how-to-detect-and-avoid-the-latest-irs-refund-scam/?utm_source=rss&utm_medium=rss&utm_campaign=how-to-detect-and-avoid-the-latest-irs-refund-scam Mon, 19 Jan 2026 12:48:45 +0000 https://tysllp.com/?p=5662 An IRS Refund Scam often involves fraudulent mailers designed to steal sensitive business data and personal identifiers. These deceptive letters frequently use fake IRS mastheads and demand photos of driver’s licenses to “trigger” a non-existent tax payment. Consequently, taxpayers must verify all unexpected correspondence through official government channels to prevent total identity theft. The Evolution of the IRS Refund Scam ... Read More

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]]> Make Tax Season Less Stressful 5 Simple Steps https://tysllp.com/make-tax-season-less-stressful/?utm_source=rss&utm_medium=rss&utm_campaign=make-tax-season-less-stressful Sun, 11 Jan 2026 08:21:12 +0000 https://tysllp.com/?p=5035 Tax Tips for Reducing Taxable Income. Tax season doesn’t have to be overwhelming. Whether you’re an employee or a small business owner, staying organized and proactive throughout the year can make filing your taxes a smoother and less stressful experience. Here are five practical tips to help you stay on top of your taxes and potentially save money along the ... Read More

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]]> New Limitations on Charitable Giving https://tysllp.com/new-limitations-on-charitable-giving/?utm_source=rss&utm_medium=rss&utm_campaign=new-limitations-on-charitable-giving Sat, 10 Jan 2026 16:56:14 +0000 https://tysllp.com/?p=5512 🎁 Strategic Giving: How does the One Big Beautiful Bill Act change the rules for Charitable Giving deductions? The One Big Beautiful Bill Act (OBBBA) significantly alters the tax landscape for charitable giving, particularly for high-income itemizers and non-itemizers alike, beginning in 2026. Specifically, the Act imposes a new 0.5% Adjusted Gross Income (AGI) floor for individual itemizers. Furthermore, it ... Read More

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]]> 🪙 Retirement Relief: Understanding the New Senior Deduction in the One Big Beautiful Bill Act https://tysllp.com/retirement-relief-new-senior-deduction/?utm_source=rss&utm_medium=rss&utm_campaign=retirement-relief-new-senior-deduction Sat, 03 Jan 2026 15:43:12 +0000 https://tysllp.com/?p=5492 How does the One Big Beautiful Bill Act provide an extra Senior Deduction for taxpayers over age 65? The One Big Beautiful Bill Act (OBBBA), enacted in July 2025, creates a new, temporary Senior Deduction to provide tax relief for individuals aged 65 and older. Specifically, it allows a deduction of $6,000 for single filers and $12,000 for married couples ... Read More

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