Early planning can make 2012 filing season easier
The new year brings a new tax filing season. Mid-April may seem like a long time away in January but it is important to start preparing now for filing your 2011 federal income tax return.  The IR...

Payroll tax cut extended two-months; other temporary incentives expire
As 2012 gets underway, Congress has extended the employee-side payroll tax cut but a laundry list of tax incentives have expired and their renewal is in doubt.  The fate of these incentives, alon...

Looking back: Top 10 federal tax developments of 2011
Looking back over 2011, the IRS, Congress and the courts made many tax decisions impacting taxpayers of all types. Some tax developments were taxpayer-friendly; others imposed new requirements on taxp...

FAQ... When do I need to file IRS Form 8938, Statement of Specified Foreign Financial Assets?
The Foreign Account Tax Compliance Act (FATCA), enacted in 2010, requires certain U.S. taxpayers to report their interests in specified foreign financial assets.  The reporting requirement may ap...

How do I...Claim a charitable contribution of property?
Claiming a charitable deduction for a cash contribution is straightforward. The taxpayer claims the amount paid, whether by cash, check, credit card or some other method, if the proper records are mai...

January 2012 tax compliance calendar
As an individual or business, it is your responsibility to be aware of and to meet your tax filing/reporting deadlines. This calendar summarizes important tax reporting and filing data for individuals...

IRS offers fixes to new 100 percent bonus depreciation
Taxpayers that place new business assets other than real property in service through 2012 may claim a "bonus" depreciation deduction. Although the bonus depreciation deduction is generally equal to 50...

Next year's tax return starts with good recordkeeping
As the 2011 tax filing season comes to an end, now is a good time to begin thinking about next year's returns. While it may seem early to be preparing for 2012, taking some time now to review your rec...

Tax law changes for 2011 impact individuals and businesses
Legislation enacted during the past few years, including the Small Business Jobs Act of 2010 and the more recently enacted Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2...

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DiMarco, Abiusi & Pascarella CPAs, P.C. is a regional upstate New York accounting firm with offices in Syracuse and Ithaca, New York.  The Firm was founded in 1956 when Alfred DiMarco and four other accountants left their accounting firm located in New York City and relocated to Syracuse to form the Company.  Over the past five decades, our Firm has grown as has the diversity of our accounting, auditing, tax and consulting expertise as our client base has expanded.

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