Dependent Tax Partners

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Dependent Tax Partners

Tax experts

12/29/2025

Starting in 2025, the cap on state and local tax (SALT) deductions increases from $10,000 ($5,000 for married couples filing separately) to $40,000 ($20,000 for separate filers). If your 2026 property taxes have already been assessed, prepaying them in 2025 could help you maximize your 2025 deduction. But keep in mind that the cap is reduced for taxpayers with modified adjusted gross incomes over $500,000 ($250,000 for separate filers). Let us help you determine how to incorporate the increased SALT deduction limit into your tax planning. Call us at (347) 804-8080.

12/24/2025

Maximize your business tax deductions. Minimize your stress. Let us handle your company’s tax planning, return preparation and strategy so you can focus on taking your business to the next level. Contact us at (347) 804-8080.

12/23/2025

Engaging independent contractors can be a smart business strategy under the right circumstances. For example, your company might experience a seasonal upswing in workload or require specialized skills for a short period. However, there can be negative tax consequences if you inadvertently mishandle the relationship and the IRS can recharacterize an independent contractor as an employee. Please contact us at (347) 804-8080 for help understanding the tax implications and staying in compliance.

12/22/2025

Did you receive an IRS audit notice but believe you did nothing wrong? Some audits are random, and some can be resolved by mail. Others are triggered by red flags that may put the IRS spotlight on your tax return. Keeping up with ever-evolving tax laws can be challenging, but one common red flag that may draw attention is a sudden, unexplained spike or drop in your reported income from one year to the next. While legitimate income changes do happen, it’s important to be prepared to justify them. Contact us for help with this matter at (347) 804-8080.

12/19/2025

Does your business provide relocation benefits for employees? Under current tax law, employers can deduct payments to employees for relocation costs, such as moving services, storage expenses and transportation. But these amounts are generally taxable to employees, except for active-duty military personnel. That means employers are required to include relocation benefits in the employee’s gross income and withhold and pay applicable payroll taxes on the payments. 2025 legislation made this tax law provision permanent, but it added another exception for “intelligence community members” that starts in 2026. Contact us if you have questions.

12/17/2025

The chart of accounts is the foundation of a company’s bookkeeping. It organizes every dollar that comes in or goes out. But if your chart is cluttered, inconsistent or poorly structured, your financial reports will be, too. Clear account groupings, consistent labels and alignment with your reporting goals are essential for meaningful financial insights. Contact us at (347) 804-8080 to help design a chart of accounts tailored to your business. We’ll make it detailed enough to guide decision-making, but simple enough to stay manageable.

12/16/2025

Businesses involved in some clean energy projects and products are hurt by the One Big Beautiful Bill Act. That’s because it accelerates the phaseout of certain tax credits and adds new restrictions to tax breaks related to solar, wind, and hydrogen power and electric vehicle charging stations. The dates that clean energy tax breaks end vary. Some may be available until 2026 or 2027. Contact us at (347) 804-8080 if you have questions about your situation. The date that projects begin construction is critical.

12/15/2025

Running a business is challenging. Managing the finances of your business doesn’t have to be. From bookkeeping and accounting to tax planning and business advisory, we provide comprehensive services designed to keep your business on track and winning. Let us handle the numbers so you can focus on what matters most: operating a profitable business. Contact us at (347) 804-8080.

12/12/2025

The new tax law introduced deductions for qualified tips and qualified overtime compensation. Specifically, for 2025 through 2028, it creates a deduction of up to $25,000 for tips income in certain industries. It also creates a deduction of up to $12,500 ($25,000 for joint filers) for qualified overtime pay. Because employers and payors may not yet have adequate procedures to comply with the new rules, the IRS has designated 2025 as a transition period and is providing penalty relief. Notice 2025-62 offers relief to employers and payors for not filing correct information returns and not providing correct payee statements to employees and other payees. For more information, call us at (347) 804-8080.

12/10/2025

We’re more than just tax and accounting professionals. We’re your partners in business growth. Beyond preparing your tax returns and keeping your books in order, we can help you improve cash flow, safely plan for expansion and make smarter financial decisions. Let’s talk about how our advisory services can strengthen your strategic planning, streamline operations, and uncover new opportunities for long-term growth and success. Call us today at (347) 804-8080 to schedule a consultation.

12/09/2025

If you ever wonder how your company’s financial results stack up against others in your industry, consider a benchmarking study. It can show you exactly where you stand. Contact us at (347) 804-8080 to get started. We'll help you compare key financial metrics, highlight what you're doing well and uncover areas that need attention. From there, we’ll build a strategy to strengthen your financial footing, seize growth opportunities and minimize threats in an ever-changing market. Let’s turn your financial statements into action plans!

12/08/2025

For cash-based businesses, meticulous recordkeeping is essential. Because cash transactions are harder to verify, they increase the risk of underreporting income and attracting IRS scrutiny. The IRS closely monitors such businesses, using tools like cash flow analysis, bank deposit comparisons and lifestyle audits to estimate actual income. If discrepancies arise, the IRS may calculate your income based on estimates, potentially resulting in higher taxes than necessary. Contact us for help with your business at (347) 804-8080.

Address

2321 Bqe West Suite 2000
New York, NY
11103

Telephone

+13478048080

Website

http://www.dtaxpartners.com/

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