HYS Tax & Accounting Firm

01/01/2024

Looking for a corporate bankruptcy attorney who can work in office (Brooklyn). Salary 150k-200k

10/11/2021

When we say we are the best we mean it!

Client was assessed almost 200k in sales tax from NYS. He had ZERO Documentation!

The business closed and didn't have the reseller certificates......

Every accountant they went to said if you have no documentation there is nothing they can do.

They said there is no reason why the auditor should reduce the assessed amount!

The client came to us so distressed.....

We sprung into action and the client is paying only 17k WITHOUT PENALTIES!

Believe the hype we are the best!

HYS Tax and Accounting Firm
103 Chester Ave
Brooklyn NY 11218
Hystaxfirm.com
347-589-2822

07/09/2021

Learn about taxes from your friends at Brooklyn based HYS Tax and Accounting Firm.

07/08/2021

High-income taxpayers are limited in the annual amount they can contribute to a Roth IRA. However, they can circumvent the income limitations by first making a traditional IRA contribution and then converting it to a Roth IRA, which is commonly referred to as a "back-door Roth IRA." However, serious pitfalls associated with this maneuver can result in unexpected taxable income.

Many individuals who are saving for retirement favor Roth IRAs over traditional IRAs because the former allows for both accumulation of account earnings and post-retirement distributions to be tax-free. In comparison, contributions to traditional IRAs may be deductible, earnings are tax-deferred, an...

07/07/2021

Transform your life. Wednesday Wisdom from HYS Tax and Accounting Firm

07/06/2021

If you are in the business of providing day care services out of your home, you benefit from two unique tax advantages. One allows you to deduct the cost of the business use of your home, even though the use is not exclusive, and the other lets you use a standard cost allowance for meals provided to those you care for, rather than having to keep track of actual expenses.

A taxpayer who is in the business of providing family day care in their home may deduct the ordinary and necessary expenses of their business. The two primary deductions include the business use of their home and the cost of providing meals and snacks to children in their care. The following is a ru...

05/23/2021

Florida here I come!

Will be saving some of our big clients a ton on taxes.

Remember tax strategy is crucial to tax savings!

03/26/2021

HYS Tax and Accounting Firm

Would like to wish everyone a Happy Passover!

02/20/2021

Before deciding to get involved in a joint venture, business owners need to carefully assess how they plan to proceed. Here's a breakdown of what a joint venture really is.

When multiple business entities make a decision to start a new business together as a cooperative arrangement, they form what is known as a joint venture.