This past Wednesday, the Internal Revenue Service made a statement saying that improperly forgiven Paycheck Protection Program (PPP) loans are taxable. The statement was made after federal investigators uncovered billions of dollars in fraud related to several pandemic relief programs … Continue reading
News & Articles
Shakira’s Hips Don’t Lie, After All, She Has Pay Slips to Prove It
Earlier this summer, global superstar and singer, Shakira was accused of tax fraud by the Spanish government. The claim against her was that she had millions of dollars in unpaid taxes from the time of 2012-2014 when she was allegedly … Continue reading
Humans of DSJ – Allen Rosen
Introducing Allen Rosen
A Brooklyn native for 40 years, Allen Rosen now resides in Oceanside and is a valuable member of DSJ’s tax team. Allen is extremely well-liked around the office and is known for his positive attitude and his … Continue reading
Billionaire Who Donated 98% of Patagonia, Shielded from $700m Tax Hit
Yvon Chouinard, the founder of popular clothing brand, Patagonia described his decision to donate his wildly successful outdoor clothing company as an effort to do his part to protect the planet. However, there are also other benefits based on how … Continue reading
U.S. Mortgage Rates Top 6% For First Time Since 2008
For the most popular U.S home loan (conventional fixed rate mortgage), the average interest rate has risen above 6%. This is the first time this has happened since 2008 and is now two times more than the level it was … Continue reading
Retirees Can Expect a Larger Social Security Check in 2023. Now For the Bad News
The rising rates of inflation that are sweeping the country over the summer are expected to increase the 2023 Social Security cost of living adjustment, A.K.A. “COLA.” The percentage increase (8.7%) is the largest one in 40 years, … Continue reading
High Inflation May Lead to Drastic Tax Bracket Changes and Exclusions
Due to the highest inflation rate we have seen in several decades, major increases on tax items will likely be coming soon, according to Bloomberg Tax research.
The forecasts of Bloomberg tax are predicting that inflation-adjustment amounts in the … Continue reading
NYS and City Employers Will Soon Be Required to Provide a Retirement Plan for Their Employees
In October of 2021, New York State passed Senate Bill S5395A, modifying the New York State Secure Choice Savings Program which is a retirement savings program. This new modification requires all employers in the state and city to provide … Continue reading
Increase Audit Chance from IRS with New Budget Hike?
The Inflation Reduction Act is jam-packed with new provisions regarding many things, from climate change to energy usage, and what is most concerning for the public, the new $80 billion funding to the IRS. With this new funding, the IRS … Continue reading
Governor Hochul Announces Additional Relief For Low-Income New Yorkers
This past year has been tough on many New Yorkers as well as Americans across the country with the rapid increase in inflation. Additionally, with large increases in gas prices, fueling up took a toll on the wallets of … Continue reading