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Best Practices to Protect Financial Data: Watch William Prohn on This Week's WGRZ Channel 2 Cybersecurity Consumer Alert

Posted by William Prohn, CISSP, CISA, CGEIT, CRISC

Feb 23, 2017 1:38:53 PM

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.

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Topics: cyberattack

Putting the pieces together for Secured Lenders:  Field Examinations, Factoring and the Benefits of Rediscounting

Posted by Kyle Hulse

Jan 30, 2017 3:01:22 PM

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.

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How Much of that Charitable Contribution is Deductible?

Posted by Samantha Keller CPA

Jan 30, 2017 9:05:04 AM

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:

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Topics: charitable deduction

The Business of Law: Business First of Buffalo Talks with Bill Prohn on Cyber Security

Posted by William Prohn, CISSP, CISA, CGEIT, CRISC

Jan 22, 2017 2:58:57 PM

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.  

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Topics: cyber security, testimony, banking, regulatory, data privacy, albany

Strategic Year-End Business Planning for Maximum Tax Benefit

Posted by Brian Dansa

Dec 22, 2016 1:20:42 PM

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:

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Topics: tax, corporate tax,, dopkins tax, year end tax planning, Code Section 179, family owned business, Protecting Americans from Tax Hikes (PATH) Act, PATH Act, Strategic Planning, Research Credit

Countdown to 2017....What is your year-end tax planning strategy?

Posted by Sarah E. DesJardins

Dec 19, 2016 10:04:06 AM

As the year comes to a close, there are three important items that should be considered regarding your year-end personal tax planning strategies.

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Topics: tax, personal tax planning, dopkins tax, year end tax planning, roth ira converstion, medical expense deduction, minimum distribution requirement, required minimum distribution, roth ira

Give Yourself the Gift of Year End Tax Planning

Posted by Sarah E. DesJardins

Dec 13, 2016 9:30:00 AM

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.

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Topics: tax planning,, personal tax planning, dopkins tax, year end tax planning

Why Not Follow Gov.Coumo's Lead on Information Security Protection

Posted by Timothy M. Korn CPA

Dec 8, 2016 4:07:00 PM

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.

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Topics: Information Security, cyber attack, cybersecurity, startegy

Tuition Credits, Changes, and The PATH Act

Posted by Brian Dansa

Dec 1, 2016 7:30:00 AM

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.

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Topics: tax planning,, dopkins tax, Path Act 2015, Protecting Americans from Tax Hikes Act, form 1098-t, Tuition credits, tax advisory

Trusts as Shareholders and 9 Other Ways to Lose Your S Election

Posted by Sarah E. DesJardins

Nov 17, 2016 1:10:00 PM

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.[1] 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.

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Topics: s corporations, s election, s corp, how trusts risk s elections, s corp risks, scorporation

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