Payroll Protection Program Loans

Good Afternoon and we hope that everyone is safe and healthy. For Some Good News! The SBA website for processing applications for an Economic Injury Disaster Loan (EIDL) has been updated and streamlined. They no longer require any collateral or personal guarantees. Hopefully, this time the website will not crash or be hacked. If you […]

Alert to all of our clients

Hold off on your Small Business Administration (SBA) Disaster Loan Application- There is a better alternative contained in a provision in the recently passed “Cares Act”. The provision is the Payroll Protection Program. This a $350 billion dollar program specifically dedicated to small businesses. Although the SBA oversees this process, you must apply through a participating bank.  […]

Important Update Regarding Disaster SBA Loans

We are here to help you.   It disturbs us to announce that today we have learned that three clients appear to have contracted the COVID-19 Virus. None have been confirmed. So please be careful out there, especially if you have an impaired immune system.   Important News  SBA has declared the states of New York, New […]

To all of our clients and acquaintances- We are here for you.

  To all our clients and acquaintances- We are here for you:  Yesterday, Governor Cuomo ordered all non-essential businesses to operate remotely and while accounting firms are considered an essential business, out of an abundance of caution and for the safety of our employees, our physical office will be minimally staffed for the immediate future.  However, all […]

Important Update from DFCPA

From: Diapoules & Feinstein CPAs P.C. Important Update: House Passes Bill Providing Testing, Employment Relief; 90-Day Waiver of Penalties and Interest on Tax Payments -On March 13, 2020, President Trump declared a national emergency, which frees up $50 billion in funding for state and local governments to use in fighting the pandemic. – On March […]

Tax saving tips for the elderly and their family

If you happen to have the following situation:  Your spouse is terminally ill.  You are in good health.  You have appreciated assets, that are your name only.   Husband and wives are allowed to make unlimited gifts to each other.  Prior to your spouse passing away, you should gift your appreciated assets to your spouse. As […]

Selling your home? Here’s a few tips.

We frequently get asked the question were selling our house and how much tax do we need to pay.  In order to calculate the gain on sale of a personal residence, please follow this formula:  Cost to purchase the home   Total closing costs paid when the home was purchased, not including adjustments for items […]

Happy New Year and best wishes from all of us at D&F

New Security Features in 2020  In order to improve the security of your documents we just implemented Office Tools Portal, that provides a very secure method of forwarding and receiving documents. We now require that all documents containing Personal Identifying Information be submitted Via this portal. If you haven’t received an invite to use our […]

A not so humorous notice

On May 14th 2019 the IRS informed us the schedule D worksheet for forms 1040 & 1041 did not properly reflect the lower 2018 tax rates. Therefore if you had any schedule D transactions for 2018, the IRS also informed us that they will correct this on their own. The IRS will be reviewing schedule […]

Attention Business Owners!

For people with businesses some regulations relating to provisions of the Tax Cuts and Jobs Act were issued late in January, if you filed early the tax software used may not have been updated properly to reflect the final regulations. If you have concerns regarding the accuracy of your returns please, contact us at your […]