Shum & Associates, CPA'S LLP

Danny Devito & "Fish or Fishing Pole" QuickBooks' fun new #BackingYou campaign features #DannyDeVito as a coach and advocate for small businesses on behalf of #QuickBooks, where he cheers on real small business owners. Our experienced CPA's have been successfully providing one-to-one #QuickBooksTraining (the Fishing Pole) and helping clients "help themselves" for over 20-years! ... + QuickBooks Set-up and Installation We also personally use QB for client accounting and bookkeeping, and many businesses choose (the Fish) and rely on us to provide a complete tailored service. https://www.youtube.com/watch?v=lU_mbweUQgM

Qualified Business Income Deduction Many owners of sole proprietorships, partnerships, trusts and S corporations may deduct 20 percent of their qualified business income. The new deduction -- referred to as the Section 199A deduction or the qualified business income deduction -- is available for tax years beginning after Dec. 31, 2017. Eligible taxpayers can claim it for the first time on the 2018 federal income tax return they file next year. Questions? (646) 707-3741 ... https://www.irs.gov//irs-several-tax-law-changes-may-affec Here is the link to IRS FAQs providing more information on the deduction, income and other limitations. https://www.irs.gov//tax-cuts-and-jobs-act-provision-11011

Happy Holidays from Shum & Associates, CPA's LLP. May you find holiday time with your family and friends restorative. We wish everyone a wonderful holiday.

The 41st President of the United States George Herbert Walker Bush died on Nov. 30. Today is a National Day of #Mourning.

Happy Thanksgiving from SHUM CPA's. As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them. John Fitzgerald Kennedy

The IRS direct payment website was down most of tax day. Now The IRS says taxpayers get an extra day to file and make a payment.

To those of you who haven't filed your taxes or an extension, there is good news-the IRS just extended the deadline another 24 hours. That makes the new deadline is now April 18, 2018. Call us now if you need help with an extension or to file your 2017 taxes: 646-707-3741.