Category: Tax Services

Are you familiar with New York State’s new Pass-Through Entity Tax (PTET)? While this optional tax can provide significant benefits for partnerships and New York S corporations, the election must be made by October 15, 2021, to be effective for the entire 2021 tax year. Under this new r Read More

President Biden’s tax proposal, first introduced in the American Families Plan, includes increasing the top tax rate on capital gains to 43.4% from 23.8% for households with more than $ 1 million in income. However, the budget released May 28 assumes the increase is retroactive to when the Read More

While New York Gov. Andrew Cuomo signed The Marijuana Regulation and Taxation Act into law March 31, 2021, to legalize the production, distribution, and adult use of marijuana in New York State, there are still more questions than answers at this point about what it means for businesses alrea Read More

By: Richard Feldman With the passage of the record $212 billion fiscal 2022 New York State budget, there are many changes, extensions and modifications to the state’s tax rates, credits and processes that need to be considered. The Janover tax team has reviewed the tax changes that could im Read More

By: COVID Response Team If you haven’t already taken advantage of the Employee Retention Credit (ERC), a fully refundable payroll tax credit that provides eligible employers with up to $33,000 per employee from March 13, 2020, through December 31, 2021, now is the time. Many companies do no Read More

By: Jason Hoffman The Marijuana Regulation and Taxation Act, which New York Gov. Andrew Cuomo signed into law March 31, 2021, legalized the production, distribution and adult-use of marijuana in New York State. While there are a lot of provisions that need to be reviewed, the Janover Cannabis Read More

By: Jason Hoffman Small residential landlords now may be eligible for new COVID-19 financial relief with the New York Forward Loan Fund (NYFLF). The program aims to support some of the hardest-hit small businesses throughout the state as they continue to reopen from COVID-19 required closures Read More

By: Mindy Kamen The American Jobs Plan, President Biden’s $2.25 trillion infrastructure plan introduced March 31, is an eight-year program that will allocate nearly $620 billion for transportation projects. It includes $111 billion to replace 100% of the nation’s lead pipes and service li Read More

On March 17th, the IRS announced that the individual income tax filing due date for 2021 has been extended from April 15th to May 17th. Payment of individuals’ 2020 taxes can also be delayed until May 17th without penalties and interest. While this decision is welcome, we at Janover wil Read More

By: Barry Sunshine, Joe Tancer, and Chris Zingalli The American Rescue Plan Act (ARPA) has been signed into law by President Biden and makes significant updates to several tax provisions to alleviate some of the pandemic’s financial burdens for individual taxpayers and businesses. Up Read More