This week on WGRZ Channel 2, Bill Prohn, Managing Director of Dopkins Systems Consultants, appeared in a Consumer Alert feature on cybersecurity. Bill provided viewers with best practices on protecting both personal and business financial data from cyberattack.
Secured lenders can benefit greatly by lending on A/R that is fully documented and regularly verified. Here, we offer an overview of Dopkins Asset Based Lending capabilities, and how our Field Examiners can add value to a secured lender’s collateral examination.
How do you know how much of a charitable contribution you can deduct on your tax return?
You donate $300 to your favorite charity this past summer, but now it’s time to file your taxes, you can’t recall if it was $300 or $325. You’re in luck! The IRS requires that a charitable organization provide written documentation for contributions made throughout the year, above certain thresholds.
Here is what you as a donor and/or you as a charitable organization need to know regarding documenting a donation:
Recently Bill Prohn, Managing Director of Dopkins Systems Consultants, testifed before the New York State Assembly Standing Committee regarding Cybersecurity issues impacting business. This hearing saught to explore the cybersecurity needs of banking institutions as well as to review State laws and regulations designed to protect against cyber threats.
There are several strategies that businesses should consider in order to maximize tax benefits while year-end planning for 2016. Some of the strategies that should be considered involve the following tax topics:
year end tax planning,
Code Section 179,
family owned business,
Protecting Americans from Tax Hikes (PATH) Act,
Before you get caught up in all the holiday gatherings and celebrations, it is important to take some time to evaluate your tax situation for the current year. Some simple personal tax planning techniques can potentially save you hundreds or thousands of dollars either in the current or succeeding year. While some events such as the timing of having a child may be difficult to control, there are many other events you can manipulate to reduce your tax liability.
personal tax planning,
year end tax planning
In mid-September, the New York State Department of Financial Services released a press release stating, "Governor Andrew M. Cuomo today announced that a new first-in-the-nation regulation has been proposed to protect New York State from the ever-growing threat of cyber-attacks. The regulation requires banks, insurance companies, and other financial services institutions regulated by the State Department of Financial Services to establish and maintain a cybersecurity program designed to protect consumers and ensure the safety and soundness of New York State’s financial services industry.
In accordance with the Protecting Americans From Tax Hikes (PATH) Act, for 2016 every educational institution was required to provide a Form 1098-T (Tuition Statement) to those attending their institution. The Form 1098-T provides information related to tuition and fees that the taxpayer or taxpayer’s dependent would use to determine their applicable educational deduction, American Opportunity Credit, or the Lifetime Learning Credit.
Path Act 2015,
Protecting Americans from Tax Hikes Act,
In 1980, there were roughly 545,000 S corporations filing tax returns in the United States. By 2011, that number was well over 4 million. As S corporations become increasingly popular, it is important to recognize that an S election can be inadvertently terminated. Understanding the ways in which an S corporation can lose the election can help avoid the possibility of double taxation. Discussed below are ten ways in which an S corporation can have the S election revoked, many of which deal with trusts since the rules surrounding trusts as shareholders are complex.
how trusts risk s elections,
s corp risks,