Staff Ciampino & Company of Albany, NY is one of the region’s premier accounting and business consulting firms. Our accountants are committed to maintaining close relationships with all of our clients. We are easily accessible and available to address each client’s needs in a personalized, confidential, accurate, and timely manner. Our business consultants and financial advisors have been serving the Capital Region with integrity for over 55 years. We understand the value of relationships and work to keep your trust.
External link for Staff Ciampino & Company P.C. - CPAs & Advisors
10 Colvin Ave.
Albany, NY 12206, US
Staff Ciampino & Company P.C. - CPAs & Advisors reposted this
The AICPA is asking the SEC to reject the Public Company Accounting Oversight Board's recent adopted standard on firm and engagement metrics, arguing they would drive smaller firms out of the auditing business and affect companies large and small.
Staff Ciampino & Company P.C. - CPAs & Advisors reposted this
WARNING: ROTH matching contributions will generate a 1099-R. Starting in 2025, employers can offer their fully vested qualified plan participants the option of receiving employer matches as ROTH contributions rather than pre-tax contributions. These are generally excluded from the definition of wages, which means a couple of things: 1) Employees will receive a 1099-R reporting designated Roth matching contributions. 2) Employers will not withhold income tax on these contributions. So for tax years in 2025 and beyond, be on the lookout for a 1099-R if you or your clients choose to take your employer match as a ROTH contribution and be sure to plan for the additional non-withheld income.
Staff Ciampino & Company P.C. - CPAs & Advisors reposted this
This Holiday season May - Your House be warm - Loved ones close by - Good food on the table - Family and Friends around you Wishing our staff , clients and friends a very Happy Holidays.
We celebrated with our staff and partners today by going out to lunch. Our organization is fortunate to have such a wonderful group of hardworking people. Thank you for all of your efforts, and have a lovely Christmas season. We also celebrated the birthday of Jeanne Ciampino who helps organize these events. We can’t thank her enough for all the work she does and wish her a belated Happy Birthday.
Staff Ciampino & Company P.C. - CPAs & Advisors reposted this
My great friends Vittoria Zaslavsky Doug Madanick, JD LLM CPA george pappas at Annual Tax Seminar hosted by NJCPA Southwest Jersey Chapter and delivered by Kulzer & DiPadova, P.A. , Tax attorneys. The second picture is the three former presidents (including me)of NJCPA Southwest Jersey chapter. Doug Madanick, JD LLM CPA on the right in the picture is one of the speakers at this event and we’ve been friends for long long time. It’s these relationships that have lasted the test of time and we count on each other for advice and services. Glad to know them and glad that we are still together after almost 20 years.
Staff Ciampino & Company P.C. - CPAs & Advisors reposted this
5 states with the highest top marginal individual income tax rates: California (13.30%) Hawaii (11%) New York (10.90%) New Jersey (10.75%) District of Columbia (10.75%) More here: https://hubs.ly/Q02ZnmqL0 #incometaxes
Staff Ciampino & Company P.C. - CPAs & Advisors reposted this
Very interesting topic discussing offshore taxes for entities and individuals. Great summary of CFC tax, GILTI and PFICs.
International Tax Badass. Helping HNWIs minimize taxes and protect their wealth for the next generation. Founder & CEO of Esquire Group. Bloomberg Tax Author. Chairman of the IBSA Middle East Chapter. Pilot.
Public service announcement!!! Americans can't save on taxes by transferring assets offshore!!! I am always amazed at how many people think you can save on taxes by going offshore, and how many advisors give improper advice on the subject. Just yesterday, I got an inquiry from a potential client who was told by an "international tax expert" that if he gifted his shares in a US company to a foreign trust and then sold them he could avoid US taxes. Not so!!! Sometimes I wonder if these experts are just incompetent, ignorant, or are just straight up fraudsters!!! I actually did a YouTube video and podcast episode on this topic a while back, you can check them out here: Podcast: https://lnkd.in/db3DpYmv YouTube: https://lnkd.in/dtAFApDC #tax #internationaltax #UStax
Staff Ciampino & Company P.C. - CPAs & Advisors reposted this
Sometimes, it helps to go back to basics. And, one of the basics of tax law is basis. Perhaps the biggest trade-off of transfer tax planning through lifetime gifts is a loss of a step-up in basis. And while there are workarounds (like upstream planning), the workarounds have their own trade-offs. As we go into basketball season, we are often reminded of fundamentals such as dribbling. To me, basis is like dribbling in basketball - it never hurts to "work on fundamentals" by revisiting these rules. In this article, I talk about some of the surface basis rules that are applicable to gifts. But, as we will see, this opens up other cans of works (such as depreciation schedules, and rules for grantor trusts) that we will discuss in follow-up articles. #estateplanning #trustsandestates #tax #financialplanning #cfp #wealthplanning #wealthmanagement #taxstrategies #taxcompliance