Top 12 Best Accounting Firms in New York City, NY 2017 Ranking New York City Accountants

By paying taxes at the business level, PTET enables full deduction of state taxes on federal returns, bypassing the $10,000 SALT limitation imposed by the TCJA. This workaround can result in substantial tax savings, especially for higher-income taxpayers. Of the many reasons why businesses fail, the lack of proper budgeting is arguably the most common. Proper accounting services can alleviate much of the issues associating with small business accounting. Our articles and guides help you maneuver complex tax topics, supporting you to make informed decisions for your business success. Not only can Wiss provide clients with sound financial advisement, but the firm can also help businesses of all sizes implement new technology that will drive greater revenue and efficiency.

Tax Paid at the Entity Level

The federal SALT deduction cap of $10,000 significantly affected high-tax states like New York. PTET was created to help business owners avoid this limitation, ensuring that state taxes remain deductible at the federal level by shifting the tax burden to the business rather than the individual. As a top CPA in NYC, Mazars operates from a philosophy based on providing objective advice with a focus on integrity. Each client engagement begins and ends with listening, constant communication, and the utmost in personal attention. Named below are things that are unique about REM-Co, leading to their selection as one of 2017’s top 12 accounting firms in New York. As one of the best accounting firms in NYC, REM-Co strives to provide insight and knowledge so clients can engage in new opportunities while mitigating potential risks.

Benefits of Working with a Certified Public Accountant in New York City

Running your business requires many different services to ensure that you avoid unnecessary expenses, comply with current tax law, and focus your efforts on customer growth. If you are just starting up your business or have need of new bookkeeping services, we bookkeepers in new york are the company for you. At TD Accountant, we provide exceptional bookkeeping services to help you run your business every day. These are the accounting firms in NYC that have developed an outstanding reputation, allowing them to stand out among the most extensive competition in the world. Today, the best accounting firms in New York are organizations that embrace change, uncover insights, and work towards creative solutions. With a commitment to the delivery of technical expertise, problem-solving insight delivery, and proactive advisement, Wiss & Company, LLP stands among the most respected New York accounting firms.

When is an amended NYS PTET return required?

It only makes sense that the city is also home to outstanding financial services providers. Individual members or partners report their PTET credit on their New York State personal income tax return, typically on Form IT-653, to offset their state tax liability. Wiss has been providing services to clients since 1969, and while their commitment to innovation and creativity is central to their work, they’re still committed to the values of their founders. Raich Ende Malter & Co (REM-Co) is a firm of certified public accountants and professional advisors. You get the personal attention you’d usually only see at a smaller accountant in NYC, but you don’t have to sacrifice available networks or resources.

• This leading NYC accountant firm has been in operation since 1924 and offers a variety of financial and tax services for both public and private companies.
• The result of infusing objective integrity into each client relationships is efficiency, the creation of value for clients, and a supportive environment.
• As a member of PrimeGlobal, Perelson Weiner can deliver a robust level of expertise and international reach, uniting worldwide coverage and cost-effectiveness for the best possible solutions.
• Individual members, partners, or shareholders receive a corresponding tax credit for their share of the PTET paid, which they can apply against their New York state personal income tax liability.
• Even with the extensive service offerings, this firm manages to take personal interaction, listening, and high-level attention to each relationship.

Our team has worked with countless clients across a wide variety of industries, providing top-tier CPA services to meet their unique financial needs. Every bookkeeping member of the EisnerAmper team is passionate about rolling up their sleeves and working hard to help clients get down to the business of building and maintaining success. Enacted as part of the Tax Cuts and Jobs Act (TCJA) of 2017, the SALT deduction cap limits the amount individuals can deduct for state and local taxes on their federal returns. However, PTET offers a way for pass-through entities to pay state taxes at the entity level, effectively bypassing this cap. This makes PTET particularly relevant for New York-based businesses seeking to optimize their tax liability. Searching for CPA’s near you can feel overwhelming, but having the right CPA tax accountant on your side makes all the difference.

George Dimov, CPA, offers premium tax and accounting services Airbnb Accounting and Bookkeeping in NYC for individuals and businesses. The firm has the knowledge to handle tax or accounting issues at all levels of complexity, from basic W2 tax returns to complex forensic accounting returns and hedge fund/real estate accounting. When working with George Dimov CPA, you can expect prompt response time, attention to detail, and accurate results that will maximize legal tax benefits.