Did You Make a Roth IRA Contribution This Year? Tell Your Accountant. Roth IRAs can be an excellent retirement savings tool, offering the potential for tax-free qualified withdrawals in retirement. However, one of the most common misconceptions taxpayers have is that “Roth” automatically means “nothing needs to be reported on the tax return.” In…
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Category: Tax Planning
FinCEN Ends BOI Reporting Requirements for Most U.S. Businesses
In a significant regulatory change, the Financial Crimes Enforcement Network (FinCEN) has finalized a rule that permanently eliminates Beneficial Ownership Information (BOI) reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act (CTA). The final rule became effective upon its publication in the Federal Register on August 11, 2026. Under the revised…
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Why Private Equity Firms Need Specialized Tax and Accounting Support
Private equity firms operate in an increasingly sophisticated investment environment. As funds grow larger, investment structures become more complex, and regulatory requirements continue to evolve, tax and accounting considerations have become critical drivers of both operational efficiency and investor satisfaction. From fund formation and partnership tax compliance to investor reporting and multistate tax obligations, private…
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Belmont Stakes Festival 2026 in Saratoga Springs | Horse Racing Accounting & Tax Services
Every June, the eyes of the horse racing world turn toward one of the sport’s most celebrated events, the Belmont Stakes. In 2026, the Belmont Stakes Racing Festival returns to Saratoga Race Course from June 3 through June 7, bringing together elite Thoroughbred competition, horse owners, racing partnerships, breeders, trainers, industry professionals, and racing enthusiasts…
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Expert Tax Solutions for the Real Estate Industry
Navigating the complex world of real estate taxation requires more than just number crunching, it demands industry-specific expertise. At Bucknam & Conley CPAs, we’ve built a reputation as trusted advisors to real estate investors, developers, and property owners. Our specialized knowledge ensures that clients maximize opportunities while staying compliant with ever-changing tax laws. Why Real…
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New York Secure Choice Savings Program
What New York Employers Need to Know New York State is rolling out the New York Secure Choice Savings Program, a new retirement savings initiative designed to help employees who do not have access to a workplace retirement plan save for the future. This program will affect many private-sector employers across New York, introducing new…
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3 Financial Reports Every Business Owner Should Review Monthly
Whether you’re reviewing numbers over your morning coffee or sorting through receipts at the end of a long week, understanding your business’ financial reports is one of the most powerful ways to stay in control of your business. At Bucknam & Conley CPAs, we often remind clients that successful financial management comes from consistently reviewing…
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Multi-State Tax Strategy Isn’t Compliance, It’s Risk Management
Many CPA firms are built around compliance. They file returns, track deadlines, and ensure forms are submitted correctly. That works, until a business starts operating across multiple states. When companies expand geographically, state and local tax (SALT) complexity increases dramatically. Nexus rules, apportionment formulas, pass-through entity tax elections, and audit exposure can all create significant…
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2026 Charitable Contribution Tax Law Changes Explained
Beginning January 1, 2026, significant changes to the federal tax treatment of charitable contributions will take effect. These updates impact individual taxpayers across all income levels as well as corporations, altering how and when charitable gifts generate a tax benefit. Understanding these new rules is essential for effective tax planning and informed charitable giving. Charitable…
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Key 2026 Tax Changes: Meal Expense Deductions and New Gambling Loss Limits
Effective January 1, 2026, several federal tax law changes are set to take effect that may impact both businesses and individual taxpayers. Two of the most notable updates involve meal expense deductions and gambling loss limitations. Understanding these changes now can help you plan ahead, avoid surprises, and ensure expenses are categorized correctly. Meal Expense…
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