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Law, Accounting & Taxes
N.Y. local sales-tax collections rise over 15 percent in August
ALBANY, N.Y. — Local government sales-tax collections across New York rose about 15 percent to more than $1.5 billion in August from about $1.3 billion in the same month in 2020. The August increase follows a 21 percent jump in July and represents the fifth consecutive month that sales-tax collections exceeded 2020 results, New York […]
ASK RUSTY: If I Die, What Happens to the Social Security Taxes I Paid?
Dear Rusty: I have heard that when my wife and I pass, the government keeps all we have paid into Social Security. Is this correct? Signed: Curious Senior Dear Curious: The Social Security taxes paid while you and your wife were working weren’t deposited into a personal account for each of you; rather they were
VIEWPOINT: Four Reasons to Use your Accountant Year-Round
The end of tax season is no reason for small-business owners to retire their accountant’s number until the new year rolls around. In fact, doing so can leave a business without critical counsel in even the best of economic climates — let alone one ravaged by the unpredictable impacts of a global pandemic. Far more
Bond, Schoeneck & King opens Westchester County office
WHITE PLAINS, N.Y. — The Syracuse–based law firm Bond, Schoeneck & King PLLC announced it has opened a new office in Westchester County, representing the firm’s 13th office overall and ninth in New York state. The addition of a Westchester County office was part of the firm’s strategic plan to have a presence in all
VIEWPOINT: New York Minimum-Wage Increases for 2022
Under the New York State Minimum Wage Act, minimum-wage rates in New York increase each year on Dec. 31 until reaching $15 per hour. In New York City and for large fast-food companies throughout the state, the minimum wage has already reached its $15 maximum. On Sept. 22, 2021, the New York State Division of the
NONPROFIT MANAGEMENT: Bidding good bye with a primer on value-based payments
“Great is the art of beginning, but greater is the art of ending.” — Henry Wadsworth Longfellow The time has come to pass the torch to the next generation of Bonadio Health- and human-service experts. After publishing columns in The Central New York Business Journal (CNYBJ) for 13 years, I will continue my love of writing
VIEWPOINT: Efficacy of grantor trusts under proposed tax law
Focusing on provisions that affect estate-planning strategies In September 2021, the U.S. House says and Means Committee released draft legislation intended to raise revenue to fund the proposed trillion-dollar budget-reconciliation bill (originally proposed at $3.5 trillion, but now set to be scaled down). Included in the draft legislation are numerous proposals that would affect both personal and
SU College of Law offers free bar-prep course to students
SYRACUSE, N.Y. — The Syracuse University (SU) College of Law has partnered with legal-education nonprofit AccessLex Institute to offer AccessLex’s interactive Helix Bar Review prep course for free to all Syracuse law students. Helix Bar Review is a bar-review program that offers students full access to the program during their third year of law school,
People news: Bonadio adds health-care veteran to compliance division
The Bonadio Group says it has hired Matthew Babcock as a principal specializing in health care in its compliance-solutions division working from the Albany office.
SYRACUSE, N.Y. — Onondaga County will host another COVID-vaccine booster clinic, is planning for a new community-testing location, and has concerns about virus clusters in
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