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Hiring Your Child Can Help You Save Big in Taxes
Hiring your child for your business can lead to significant tax savings by shifting income, reducing taxes, and reducing FICA and FUTA ...

Business Travel Expenses: Per Diem vs Actual Expenses
If your employees travel for work purposes, it’s important to understand the various methods of tracking and substantiating travel expenses so ...

6 Misconceptions of a Revocable Living Trust
A revocable living trust, or RLT, offers many benefits, including probate avoidance, privacy, and flexibility in managing assets during one’s ...

FMF&E Awarded “Best Place to Work” Title for Third Year
-Syracuse, New York
On May 1, 2023 the FMF&E CPA, P.C. team was officially awarded the designation of a Central New York "Best Place to ...

IRS Dirty Dozen Top Tax Scams To Avoid
Each year, the Internal Revenue Service publishes its annual Dirty Dozen list of tax scams highlighting various schemes that put taxpayers and ...

Understanding Revenue Ruling 2023-02: Implications for Irrevocable Grantor Trusts
The IRS issued Revenue Ruling 2023-02, which clarifies the treatment of assets in irrevocable grantor trusts for tax purposes. This ruling aims ...

Properly Funding Your Living Trust
Failing to properly fund a living trust is one of the most common errors people make and can lead to unintended consequences and added costs for ...

R&E Expense Amortization Got You Down?
Now that Research & Experimentation expenses must be amortized over several years, many companies are looking for ways to increase deductions ...

Protecting Your Finances During an Economic Downturn
Many economists are predicting that the US economy will experience a downturn, if not a recession, in 2023. A downturn can lead to job loss, ...

FMF&E Update: Key Provisions of the SECURE 2.0 Act for Employers
The SECURE 2.0 Act aims to improve retirement savings by making it easier for employers to offer retirement plans to employees and for ...

Incentivize Employees With Stock Appreciation Rights Instead of Equity
Many business owners want to incentivize and reward employees by tying their compensation to the company's performance. One way to do this is ...

What is Environmental, Social, and Governance (ESG)?
Environmental, Social, and Governance (ESG) refers to a set of standards for a company's operations that aim to ensure that it is responsible ...

FASB Proposes Changes to Lease Accounting Rules
The Financial Accounting Standards Board recently issued a proposed Accounting Standards Update for Leases (Topic 842). The update addresses ...

What Is an S-Corp Election?
Business owners often struggle with determining the optimal legal structure and tax treatment for their business. This video will explain an ...

Expect More IRS Audits
The Inflation Reduction Act allocated $80 billion to the IRS for hiring additional personnel and improving processes and technology. Learn how ...
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