General

Avoid Fake Charity Websites

Heads-up! Bad guys are exploiting the Las Vegas shooting. There are fake Facebook pages, tweets are going out with fake charity websites, and phishing emails are sent out asking for donations to bogus Vegas, Harvey and Irma Charities.  Don't fall for any scams. If you want to make a...

New RI Personal Income Tax Modification for Pension Income

A new Rhode Island personal income tax modification applies for income from private‐sector pensions, government pensions, 401(k) plans, 403(b) plans, military retirement pay, annuities, and other such sources.   Approved by the Rhode Island General Assembly, and signed into law by Rhode Island Governor Gina M. Raimondo on June 24,...

2017 October News in Review

Sansiveri’s 2017 October News in Review is a summary of news, events and links that we shared throughout the month of September. Just in case you missed an earlier post or email, this issue includes a summary about Trump's Tax Reform Framework; qualifying for an R&D tax credit; some...

It’s Official: Governor Signs Paid Sick Leave

Paid Sick Leave

On September 28, 2017 Governor Gina Raimondo signed into law the paid sick leave bill passed by the General Assembly in a special session earlier this month. If you are a business in Rhode Island with 18 or more employees, beginning July 2018, workers will able to take up...

President Trump’s Tax Reform Framework Summary

Tax Reform Framework

The following is a summary of the key points of the proposed tax reform framework; future changes can be expected. We will keep you informed of any significant legislation that would affect you, and/or your business. Business 20% corporate tax rate 25% maximum tax rate applied to business income...

More Details Shared Regarding RI Tax Amnesty

RI Tax Amnesty

-By David Lichtenstein, CPA, MST On September 27, 2017, the Rhode Island Division of Taxation ("The Division") provided a summary of amnesty information (see below) so taxpayers can be prepared when the program begins in December. In November, approximately 90,000 Rhode Islanders will be receiving account balance statements (along...

New Business Travel Per Diem Rates

Business Travel Per Diem Rates

Should your business use per diem rates for travel reimbursement? Updated business travel per diem rates go into effect October 1. To simplify recordkeeping, they can be used for reimbursement of ordinary and normal business expenses incurred while employees travel away from home. Per diem advantages As long as...

If Sir-Tax Could Write Prescription Drug Warnings

by David Lichtenstein, CPA, MST PROCRASTINATE DRUG: Notifying your accountant at the last minute that you are selling your business, and you just want him/her to "review" the purchase & sale documents, just to make sure that you aren't missing anything. DRUG WARNING: Engaging in such an activity...