633 Route 211 East Middletown, NY 10941

3 Neptune Road Poughkeepsie, NY 12601

Call us(877) 740-9500 Email usinfo@jgspc.com

The JGS Advisor

Why 2016 may be an especially good year to take bonus depreciation

Bonus depreciation allows businesses to recover the costs of depreciable property more quickly by claiming additional first-year depreciation for qualified assets. The PATH Act, signed into law a little over a year ago, extended 50% bonus depreciation through 2017.

Claiming   Read More

Posted in Blog, The JGS Advisor

2 postmortem estate planning strategies for married couples

It’s crucial to review and update your estate plan in light of significant life changes or new tax laws. It’s equally important to be aware of strategies that can be implemented after your death to achieve your estate planning goals.   Read More

Posted in Blog, The JGS Advisor

Is your business committed to its cost-control regimen?

At the beginning of the year, many people decide they’re going to get in the best shape of their lives. Similarly, many business owners declare that they intend to cut costs and operate at peak efficiency going forward.

But, like   Read More

Posted in Blog, The JGS Advisor

A difficult decision: Having an elderly parent declared incapacitated

If your elderly parent’s mental state is deteriorating to the point where he or she is unable to manage day-to-day activities, it may be time to make the difficult decision to have him or her declared incapacitated. But how do   Read More

Posted in Blog, The JGS Advisor

The investment interest expense deduction: Less beneficial than you might think

Investment interest — interest on debt used to buy assets held for investment, such as margin debt used to buy securities — generally is deductible for both regular tax and alternative minimum tax purposes. But special rules apply that can   Read More

Posted in Blog, The JGS Advisor

Can you defer taxes on advance payments?

Many businesses receive payment in advance for goods and services. Examples include magazine subscriptions, long-term supply contracts, organization memberships, computer software licenses and gift cards. Generally, advance payments are included in taxable income in the year they’re received, even if   Read More

Posted in Blog, The JGS Advisor

Going back to basics with asset protection strategies


Asset protection trusts — both offshore and domestic — can be effective vehicles for protecting your wealth in today’s litigious society. But these trusts can be complex and expensive, so they’re not right for everyone. For those seeking simpler asset
  Read More

Posted in Blog, The JGS Advisor

Deduction for state and local sales tax benefits some, but not all, taxpayers

The break allowing taxpayers to take an itemized deduction for state and local sales taxes in lieu of state and local income taxes was made “permanent” a little over a year ago. This break can be valuable to those residing   Read More

Posted in Blog, The JGS Advisor

Considering a spinoff? Think it through

In popular culture, the word “spinoff” usually refers to a television show whose main characters originated from an already established show. But the word applies to the business world, too. Here it describes a division or subsidiary of a company   Read More

Posted in Blog, The JGS Advisor

4 principles of competitive intelligence

We live and work in the information age. As such, the opportunity to gather knowledge about your company’s competitors and industry as a whole has never been better. This practice — commonly known as “competitive intelligence” — can help you   Read More

Posted in Blog, The JGS Advisor

Explore all of your options when appointing the executor of your estate

The executor’s role is critical to the administration of an estate and the achievement of estate planning objectives. So your first instinct may be to name a trusted family member as executor (also referred to as a personal representative). But   Read More

Posted in Blog, The JGS Advisor

Identify all of your company’s retirement plan fiduciaries

Your company probably offers its employees a retirement plan. If so, can you identify all of your plan fiduciaries? From a risk management perspective, it’s critical for business owners to know who has fiduciary status — and the associated liability.   Read More

Posted in Blog, The JGS Advisor

Help prevent tax identity theft by filing early

If you’re like many Americans, you might not start thinking about filing your tax return until close to this year’s April 18 deadline. You might even want to file for an extension so you don’t have to send your return   Read More

Posted in Blog, The JGS Advisor

Few changes to retirement plan contribution limits for 2017

Retirement plan contribution limits are indexed for inflation, but with inflation remaining low, most of the limits remain unchanged for 2017. The only limit that has increased from the 2016 level is for contributions to defined contribution plans, which has   Read More

Posted in Blog, The JGS Advisor

Are you able to deduct medical expenses on your tax return?

For many people, the cost of medical care keeps going up. So if possible, you should find ways to claim tax breaks related to health care. Unfortunately, it can be difficult because there’s a threshold for deducting itemized medical expenses   Read More

Posted in Blog, The JGS Advisor

2017 Q1 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2017. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to   Read More

Posted in Blog, The JGS Advisor