The Inflation Reduction Act provided the IRS with billions of dollars of additional funding to reduce the so-called “tax gap” between what taxpayers owe and…read more

First published in the Rochester Business Journal, February 3, 2023:  When I entered the accounting profession in the early nineties, the country was mired in…read more

Are you thinking about selling stock shares at a loss to offset gains that you’ve realized during 2020? If so, it’s important not to run…read more

July 21, 2016- Rochester, New York: EFRP Group CEO and EFPR Group-Trek Cycle teammate, Kevin Hill, placed third in the 5k Time Trial at the…read more

The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of the CHIPS and Science Act…read more

Goodwill shows up on a company’s balance sheet when the company has been acquired in a business combination. It represents what’s left over after the…read more

Now that Joe Biden has been projected as the winner of the presidential election by major news outlets,* you may wonder if your federal taxes…read more

President Biden has signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal…read more

In May 2019, the IRS heightened security measures that altered the process by which individual entities apply for an Employee Identification Number (EIN). Prior to…read more

The Tax Cuts and Jobs Act (TCJA) significantly boosted the potential value of bonus depreciation for taxpayers — but only for a limited duration. The…read more

Many not-for-profits have been too busy trying to stay afloat to put a lot of resources and energy into public relations. But as the new…read more

The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief…read more