Anxiety levels have soared among the lower and middle class as the GOP instigates a tax bill overhaul proffering hefty cuts to corporations and the highest-earning 1%. But most income brackets will see a boost in take-home pay – a blip for some earners and a bump for others. Find out where you stand.
By Kindra Cooper
Unsurprisingly, women and minorities are still vastly underrepresented in city and state contract awards despite an increasing number of women-owned businesses filing for Minority Owned Business Enterprise (MWBE) certification. At the recent State of Women in Business 2018 conference hosted by the New York Women’s Chamber of Commerce, elected officials, members of the chamber and female entrepreneurs discussed legislation at the city and state level designed to get more MWBEs hired.
The Tax Cuts and Job Act of 2017 is hotly contested for its drastic tax breaks for corporations and the top one percent of households. But it does offer small businesses a significant breather — at least until 2025. Here are a few things to ask your accountant as tax season approaches:
By Ramona Cedeno, founder of Fibrick Financial Services
I will forever say that accounting is the best profession in the world and I am grateful to be a part of it. Some will think I’m exaggerating, but I get up every morning looking forward to the next accounting puzzle I will solve that day.
I was born in what was at the time a lightly populated area of the Dominican Republic called Veron (although for many years I thought it was called Beron), a small community in the resort town of Punta Cana. We had no roads and few neighbors, so my childhood was full of pretend games with my three sisters; our favorite was “grocery shopping.” One of us owned the grocery store and the others played housewives who had to do the shopping. By the time I was 7 years old, other people had moved to the area, roads had been built, and the first resort had opened at the nearest beach. We still had no local electricity (the resort had its own generator), but we had a battery-operated, stick antenna television, which allowed us to watch the soap operas and cartoons from the Puerto Rican network.
Tax season is here again! For tax professionals like me, this is a happy season. For almost everyone else, it’s a time of year they wish should they could skip. However, since no one has come up with a way to avoid life’s inevitabilities – taxes are one of them- let’s at least try to make the best of it. Here are my quick tips to take advantage of some of the tax perks available to you and to make the process of filing your tax return as painless as possible.
This month I had the pleasure of being featured in Baruch College’s Entrepreneur spotlight, speaking about my transition from the corporate world to the start up world. As a fellow alumni (go Bearcats!), I’m happy to share my story so far and hopefully inspire others to pursue their dreams.
Check out the article here.
Most of us approach taxes as something to put off thinking about until absolutely necessary. Most people want to lock up the part of their brain that deals with taxes until it needs to be brought out again next year. However, with a bit of forethought and preparation, you can make next year’s taxes go much more smoothly.
Fibrick Financial Services in NYC will work with you to guide you through with proper tax season tips to make the upcoming tax season as smooth as possible. They will also advise you on key accounting processes to complement their strategic financial and operational objectives.
If your business is experiencing rapid growth then you likely have been considering buying new accounting software. But where do you start? What are the best applications in the market for your business? Should you go cloud-based or on-premise? How can you get the best deal on the price? How long does it take to implement a new system? How can you make sure you don’t select the wrong application? What do you need to do after the new system is implemented to ensure it is used effectively?