Welcome Experienced CPAs Holliday and Zumach

Boldt Carlisle + Smith is pleased to welcome two experienced CPAs (Certified Public Accountants) to our team – Ross Holliday and Christa Zumach. Both work in our Albany office. Ross Holliday, CPA, CVA, CGMA, is an experienced CPA with extensive work in taxation, business consulting, and not-for-profit services. Ross worked with Johnson McGowan & Associates in…

Details

Claiming Charitable Contribution Deductions

For many individual taxpayers, a charitable contribution is a significant deduction on Schedule A, Itemized Deductions. These gifts may be made in the form of money (cash, check, credit card, or payroll deduction) or property (non-cash items). The form of donation and the amount of the donation will generally dictate the required documentation or substantiation that…

Details

What is NII and Will it Cause NIIT?

For tax years after December 31, 2012, individuals, trusts, and estates are subject to a 3.8 percent Net Investment Income Tax (NIIT), if their modified adjusted gross income (MAGI) exceeds a threshold amount determined by their filing status: married filing joint, married filing separately, or single.  Some of you may have experienced this new tax…

Details

Quarterly Tax Payments: Beware 90% May Be Greater Than 100% or 110%

In certain situations it is necessary for individuals to make estimated quarterly tax payments using the Form 1040-ES payment voucher.  Estimated tax payments are necessary when income is derived from sources that are not subject to withholding such as interest, dividends, gains from sales of assets, rental income, royalties, schedule E pass-through income, and self-employment…

Details