As a business owner, you should be aware that you can save family income and payroll taxes by putting your child on the payroll. Here…read more

Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation…read more

If you own a home and rent it to a relative, you may be surprised to find out there could be tax consequences. Quick Rundown…read more

Negotiations continue in Washington, D.C., over the future of President Biden’s agenda. Tax law changes may be ahead under two proposed laws, the Build Back…read more

The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation on Wednesday, June 3rd allowing more time and less restrictions for PPP…read more

After two years of no increases, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be…read more

If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a…read more

January 2024, Rochester, NY – EFPR Group, LLP is proud to announce Debra Zevetchin, CPA, MACC has been promoted to partner. “This significant milestone reflects…read more

Perhaps you operate your small business as a sole proprietorship and want to form a limited liability company (LLC) to protect your assets. Or maybe…read more

If you’re fortunate enough to own a vacation home, you may want to rent it out for part of the year. What are the tax…read more

A business or individual might be able to dispose of appreciated real property without being taxed on the gain by exchanging it rather than selling…read more

In an effort to stimulate the development of “next-gen” technology companies, New York State offers a number of tax incentives for companies …read more