Category: Tax Services

Janover is proud to announce it has been named a 2023 NYC Top Workplace by employer recognition survey program Top Workplaces. This year, Top Workplaces partnered with amNY Metro to select leading businesses of various sizes across the New York City metropolitan area.  Top Workplaces collect Read More

New York State lawmakers came to an agreement about this fiscal year’s budget, allowing Gov. Kathy Hochul to finalize and sign it into law. With the $229 billion budget, legislators plan to address mental health care, crime and gun violence, invest in education, public transit and clean en Read More

The Inflation Reduction Act (IRA) extended and expanded the Section 30D Clean Vehicle (CV) Credit, previously known as the Electric Vehicle (EV) Credit. The credit now covers “clean vehicles,” which include plug-in hybrids, hydrogen fuel cell cars and EVs.  On April 18, 2023, the IRS Read More

6/27/2023 Update: The IRS has released more information about the taxation of virtual assets related to transactions. Please see here for more. The IRS and Treasury Department have released a notice signaling their intent to issue formal guidance on the taxation of some nonfungible tokens (NF Read More

In a 5-4 vote, the U.S. Supreme Court determined that Report of Foreign Bank and Financial Accounts (FBAR) penalties will no longer be applied per account. With this decision, made on February 28, 2023, taxpayers in non-willful cases will now only be subject to FBAR penalties for the non-will Read More

Many people often interchange the terms estate tax and inheritance tax and confuse the differences between the two. While both are taxes associated with a person’s death and fall under the category of “death taxes”, they are two separate and distinct types of taxes. The umbrella term � Read More

Included among the IRS inflation adjustments for tax year 2023 were changes to estate, gift and generation-skipping transfer (GST) tax exemptions. Under the Tax Cuts and Jobs Act (TCJA), estate, gift and GST exemption amounts are at an all-time high, but assuming there are no changes in the l Read More

The beginning of the year is a great time to establish a document retention policy if you don’t already have one in place. While there are specific documents that business owners are required to retain, including tax, legal and personnel records, rules vary for other types of documents. Bel Read More

At the end of 2022, Congress passed the Consolidated Appropriations Act of 2023 spending bill that included the SECURE 2.0 Act of 2022. The updated SECURE (Setting Up Every Community for Retirement) Act includes many provisions to the initial legislation, enacted in 2020. With changes affec Read More

The IRS has issued the standard mileage rates for 2023. While the business use standard mileage rate is up 3 cents from the 2022 mid-year increase, the standard mileage rates for charitable, medical or moving purposes for qualified members of the Armed Forces remain consistent with last year� Read More