Gargiulo & Co CPAs PC

03/18/2020

So far, the deadline to PAY your taxes has been extended to July 15th. The deadline to FILE remains at April 15th, so please remember to file an extension even if you are not sending a payment.

07/06/2019

Don't wait for a surprise in April. Speak to your accountant now about what 2019's taxed will likely look like.

02/09/2019

Bad job by IRS designing new tax forms. In order to satisfy someone's request to make the return look like a postcard, they turned two pages into five small pages that don't flow very well.

10/05/2018

On October 3rd the IRS issued clarification of the new tax law with respect to entertainment expense. The 2017 Tax Cut and Jobs Act eliminated the deduction for entertainment. This was widely believed to include the deduction for 50% of the cost of meals if the taxpayer is present. The guidance issued by the IRS makes it clear that the deduction for 50 percent of meals with an acceptable business purpose while the taxpayer is present is still deductible as long as it is not "lavish or extravagant." This includes meals provided to a current or potential customer or client. For more details feel free to contact us.

08/05/2018

The tax tables reduced the amount of taxes taken out of your pay. You may be in for an unhappy ending for 2018. Call us to o do a projection.

07/16/2018