Few Businesses Took Advantage of NYS Tax Loophole

Back in April, New York Governor Andrew Cuomo introduced a program for workers in the state that would act as an end-around to President Trump’s $10,000 State and Local Tax (SALT) deduction cap by deferring payments that exceed the cap. Eight months later, the program has become a flop as very few businesses in New York State took the governor up on his offer. Continue reading “Few Businesses Took Advantage of NYS Tax Loophole”

New Tax Law Cracks Down on Entertainment Expenses for Businesses

Newsmax FinanceGarden City business lawyer reported on a little-known item in the new tax law that will do away with special interest tax breaks and loopholes, among them the elimination of a company’s ability to write off entertainment as part of its business expenses. Continue reading “New Tax Law Cracks Down on Entertainment Expenses for Businesses”