Wray Enterprises Inc.

Wray Enterprises Inc. Wray Enterprises Inc is licensed in New York and specializes in Accounting. We are professional, experienced, and affordable. Nathan B.

We offer a broad range of services for business owners, executives, and independent professionals. Our Mission is to provide personalized and high quality accounting services based on your business needs and goals. Wray, EA first began his career in 2012 and later launched Wray Enterprises Inc. as the Founder and President in 2014 after first earning his Associate’s degree in Accounting in 2010, f

ollowed by his Bachelors of Finance in 2013. Nate became an Enrolled Agent with the U.S. Department of Treasury in January 2021. Before, during and after the conception of Wray Enterprises, Inc. he has steadily worked alongside John C Parcell IV, CPA, CFE building his skills in strategic business development and mastering his knowledge of accounting. He is a federally authorized tax practitioner with the right to represent taxpayers, trusts, estates and corporations when dealing with issues with the IRS, such as tax appeals, collections and audits. In addition to that, he has experience with hospital financials within the private sector as well as local government fund accounting. Leadership, reliability and drive are among Nate’s greatest strengths. He has been recognized as a troubleshooter and problem-solver; an innovative thinker who continuously seeks improvement. He thrives on all types of challenges, especially those that expand his knowledge in the entrepreneurial world. There isn’t a business out there that doesn’t interest Nate. His drive and need for knowledge are what compelled him to begin multiple partnerships of his own in the property management industry and the fi****ms industry. Nate has volunteered for non-profit organizations such as Seaway Valley Prevention Council and the Parishville Sportsmen’s Club where he currently serves as Treasurer. Nate has been a Notary Public since 2013 and is an active member of the New York State Society of Enrolled Agents. Nathan lives in the Parishville area with his Wife, son and dog. In his free time, Nate enjoys being at the shooting range, UTVing, and spending time with his family and friends.

The stepped-up basis rules can reduce capital gains tax for family members who inherit your assets. Under these rules, w...
06/08/2026

The stepped-up basis rules can reduce capital gains tax for family members who inherit your assets. Under these rules, when your loved one inherits an asset, its tax basis is “stepped up” to its fair market value at the time of your death. If the heir later sells the asset, he or she will owe capital gains tax only on any appreciation after your date of death, rather than on the entire gain since you acquired it. Investment accounts, business interests, real estate and personal property are among the assets affected by the stepped-up basis rules. Call us at (315) 212-2993 for details.

Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “...
06/05/2026

Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “maybe.” This tax break allows eligible sole proprietors and owners of “pass-through” entities to deduct up to 20% of QBI. Pass-through entities include partnerships, S corporations and most limited liability companies. However, income from a rental real estate activity is QBI only if the activity rises to the level of a trade or business or meets an IRS safe harbor, which generally requires separate records, sufficient rental services and specific documentation. Various limits and other restrictions also apply. Call us at (315) 212-2993 to learn more.

F**A taxes on W-2 wages are split equally between employee and employer. For self-employment income, you pay both halves...
06/03/2026

F**A taxes on W-2 wages are split equally between employee and employer. For self-employment income, you pay both halves, but the “employer” half is deductible. If you own and work in a business structured as a partnership, the income passing through to you for income tax purposes generally is also subject to self-employment taxes, even if it isn’t distributed to you. If your income exceeds certain levels, you also could be subject to the 0.9% additional Medicare tax. Call us at (315) 212-2993 to review your situation.

If you’d like to arrange for a transfer of wealth through multiple generations, consider a dynasty trust. Assets are tax...
06/02/2026

If you’d like to arrange for a transfer of wealth through multiple generations, consider a dynasty trust. Assets are taxed just once, when they’re initially transferred to the trust. There’s no estate or generation-skipping transfer tax due on any subsequent appreciation in value. A drawback is that the trust is irrevocable. This means it generally can never be revised. Call us at (315) 212-2993 for more details.

Will Social Security benefits be available when you retire? Good question. These benefits are unlikely to disappear enti...
06/01/2026

Will Social Security benefits be available when you retire? Good question. These benefits are unlikely to disappear entirely. But payments may be smaller, and the qualifying age for full benefits (currently 65 to 67, depending on your date of birth) may increase. So it’s critical to take advantage of tax-deferred retirement vehicles and to make age-appropriate investments that can help you accumulate adequate savings. Call us at (315) 212-2993 to discuss your retirement goals and ways to achieve them.

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain busin...
05/29/2026

Does your business provide complimentary on-site food and beverages for employees? The rules for deducting certain business meals have changed. Beginning in 2026, employers generally can’t deduct 1) meals treated as de minimis fringe benefits, or 2) employer-provided meals that are excludable from an employee’s income and provided for the employer’s convenience on business premises. For the 2025 tax year, generally the former were 100% deductible and the latter were 50% deductible. Contact us at (315) 212-2993 to discuss whether this change will affect your company and how to plan accordingly.

If you’d like to help a charity for a period of time but ultimately benefit one or more heirs and potentially save gift ...
05/27/2026

If you’d like to help a charity for a period of time but ultimately benefit one or more heirs and potentially save gift and estate taxes, consider a charitable lead trust (CLT). You transfer assets to the irrevocable CLT and the charity receives payments from it for a term of years. When the term expires, the remaining assets are distributed to the CLT’s beneficiaries. The CLT assets can include publicly traded securities, real estate, business interests and even private company stock. Call us at (315) 212-2993 for more details.

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 e...
05/26/2026

Does your business use independent contractors? The reporting requirements for these workers differ from those for W-2 employees. For payments made in 2026, businesses generally must issue Form 1099-NEC, “Nonemployee Compensation,” to contractors paid $2,000 or more (up from $600 for 2025). The higher threshold may reduce your administrative burden because you could have fewer forms to file with the IRS. However, it doesn’t change your recordkeeping, worker classification or backup withholding responsibilities. Contact us at (315) 212-2993 to help ensure you’re prepared for the updated reporting requirements.

If you rent out your primary residence or vacation home for no more than 14 days, you don’t have to report the income. (...
05/25/2026

If you rent out your primary residence or vacation home for no more than 14 days, you don’t have to report the income. (But you can’t deduct related expenses, such as advertising and cleaning.) If you rent it out for more than 14 days, the income is taxable. And you may be able to deduct expenses such as utilities, repairs, insurance and depreciation. Exactly what you can deduct depends on personal vs. rental use. The rules are complex, but tax savings opportunities are available. Call us at (315) 212-2993 to learn more.

The IRS has issued final regulations on the tax deduction for qualified cash tips. The legislation commonly known as the...
05/22/2026

The IRS has issued final regulations on the tax deduction for qualified cash tips. The legislation commonly known as the “One Big Beautiful Bill Act” created the deduction of up to $25,000 per year for 2025 through 2028. Qualified tips generally refer to cash tips received by an individual in an occupation that “customarily and regularly” received tips on or before Dec. 31, 2024. The final regs list more than 70 eligible occupations. In addition to occupations previously listed in the proposed regs, the final regs add visual artists, floral designers and gas pump attendants. The final regs also provide clarifications to the definition of a qualified cash tip. For more details, call us at (315) 212-2993.

Address

1888 State Highway 72
Potsdam, NY
13676

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 5pm

Telephone

+13152122993

Website

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