Established 2007

  New York Low Voltage 
   Contractors Association, Inc. 

Accountant's Tips


Accountant's Tips
Gary J. Schwartz
Certified Public Accountant
456 Links Drive East
Oceanside NY 11572
Phone 516 766-8482 - Fax 516 766-1278
  • Thursday, January 05, 2012 8:08 PM | Gary J. Schwartz, CPA
    As the end of the tax year approaches, it is most important and useful for both small
    business and individual taxpayer's to make the most out of taking the bite out of tax
    time. To lower your tax bite, it is wise to take certain steps at year end. NYLVCA members read more
  • Thursday, January 05, 2012 8:06 PM | Gary J. Schwartz, CPA
    Before discussing the general complexities of sales tax, the definition of a capital improvement should be understood.  If a contractor performs a capital improvement for a customer and the customer provides a “certificate of capital improvement form ST-124,” no sales tax is required to be collected.  However, if a repair is done on the job which includes maintenance and installation then sales tax must be collected. NYLVCA members read more
  • Thursday, January 05, 2012 8:04 PM | Gary J. Schwartz, CPA
    When deciding to open a new business or to make a change to a different taxable entity, there
    are many choices to consider. Some of the basic issues that must be looked in to is the legal
    protection and the owner, transferability of ownership, business capital and taxable events. The
    choice of business entities fall into several categories. NYLVCA members read more
  • Wednesday, January 04, 2012 8:00 PM | Gary J. Schwartz, CPA
    Under the rules of the Internal Revenue Service Code "section 179" sole proprietor's,
    partnership's or corporation's ( including S and LLC'S ) are allowed to fully expense
    tangible property in the year it is purchased. You may also acquire an asset at year end   
    and still be entitled to a full deduction as long as your total assets acquired does not exceed
    40% of your total purchases in  the last quarter. NYLVCA members read more
  • Wednesday, January 04, 2012 7:58 PM | Gary J. Schwartz, CPA
    The Immigration Reform and Control Act requires that all U.S. employers are responsible to verify employment eligibility and identification of all hired employees after November 6, 1986. To be in compliance with the law every U.S. employer is required to complete Employment Eligibility Verification forms for all employees, including U.S. citizens. NYLVCA members read more
  • Monday, January 02, 2012 7:56 PM | Gary J. Schwartz, CPA
    All businesses must choose one type of accounting method to keep track of their financial transactions. The two main types of methods are Cash and Accrual. Depending upon the type of business you have may also dictate the type of method you must choose to use. For example, if your business has inventory, the IRS requires that you use the accrual method of accounting. The other deciding factors include type and billing method which will also have a determination on your accounting policy. NYLVCA members read more

This page was last updated on 11/21/2012. And so far HTML Counter have view this page.

Disclaimer The information provided at web site should not be construed as giving business, legal, or other advice. Information provided on this web site is intended to allow the public and members of NYLVCA access to public and association information. While all attempts are made to provide accurate, current, and reliable information, the NYLVCA recognizes the possibility of human and/or mechanical error. Therefore, the NYLVCA makes no representations as to the accuracy, completeness, currency or suitability of the information provided by this web site, and denies any expressed and implied warranty as to the same.

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