Resources

The One Big Beautiful Bill Act Summary The “One Big Beautiful Bill Act” (H.R. 1, signed July 4, 2025) serves as a comprehensive tax reform package, primarily designed to make the 2017 Tax Cuts and Jobs Act (TCJA) provisions permanent while introducing new, temporary tax relief for individuals and businesses. Below is a bulleted summary … Continue reading The One Big Beautiful Bill Act

SMG Golf Outing Raises Over $170,000 for Fight CRC SMG is proud to share the success of our 2024 golf outing, which raised over $170,000 in support of Fight CRC, an organization dedicated to the fight against colorectal cancer. The event honored the memory of our dear friend and colleague, Jonathan Schulman, who passed away … Continue reading SMG Golf Outing Raises Over $170,000 for Fight CRC

The Corporate Transparency Act (CTA), requires most small businesses, (Single Member LLCs, S-Corporations, Partnerships, etc.)  to retroactively file a Beneficial Owner Information Report (BOIR) regarding its “beneficial owners” and other key management personnel to the Financial Crimes Enforcement Network (FinCEN) of the United States Treasury Department. Any individuals who, directly or indirectly, own or control … Continue reading Corporate Transparency Act | Filing Deadline: January 1, 2025

We are thrilled to announce the success of our recent golf outing, which raised over $170,000 in support of Fight CRC, an organization dedicated to the fight against colorectal cancer. Held in memory of our dear friend and colleague, Jonathan Schulman, who passed away from colon cancer, this event brought together clients, partners, and the … Continue reading Our 2024 Benefit Golf Outing

We are thrilled to share some exciting news with you – SMG’s Florida office will be moving to a stunning new location in St. Petersburg! Our doors will officially open on Thursday, January 18, 2023 at 646 94th Avenue North, St. Petersburg, FL 33702.  This move symbolizes our dynamic growth and unwavering commitment to delivering exceptional service. Our … Continue reading Exciting News: We Are Relocating Our Florida Office!

On behalf of SMG and Helbraun Levey, thank you to everyone that joined us for the Inaugural Golf Outing! We send our sincerest gratitude to our sponsors and their generous donations that will benefit the Roar New York organization. Check out a slideshow of highlights from this year’s event below!

Time to File your 2022 Taxes! 1. Send Us Your Tax Documents Using the Sharefile link below, securely upload all your tax data to begin the preparation of your 2022 tax returns. Please be diligent during the uploading of your 2022 tax documentation. Once you have compiled all documentation, please ensure everything is uploaded in … Continue reading Time to File Your 2022 Taxes!

As a reminder to all, With the assistance of the Coronavirus, Aid, Relief, and Economic Security Act (CARES Act), business employers are entitled to defer both the deposits and payments of their portion of Social Security taxes applicable to employees’ wages. This can be done by reducing any necessary deposits or payments for a specific … Continue reading Social Security Deferral

Dear Client, Due to the upcoming holidays, our offices will be closed on Friday, 12/23, Monday, 12/26 and Monday, 1/2/23. As a result, weekly reporting will not be issued for the last two weeks of December. If we act as your payroll processor, for the week of 12/19, please have all payroll related information sent … Continue reading Upcoming Holiday Office Closures

Please note, that it’s the client’s responsibility as the taxpayer to obtain W-9s from all vendors that provide services to recipients. This includes outside services, independent contractors, sub-contractors, commissions, repairs and maintenance, legal services, and rent, amongst other payments. It is imperative that clients provide us with this information before the end of each calendar … Continue reading Information Regarding 1099 for 2022

We are pleased to announce our expansion into the state of Florida! SMG has proudly joined forces with the reputable accounting firm of Lori A. Hornby. The St. Petersburg-based firm has joined SMG’s experts in providing full-service accounting, bookkeeping, taxation, and advisory services. Lori A. Hornby started providing professional services in Pinellas County in 2013. … Continue reading Exciting Firm News!

We are very excited that SMG ABA LLC. has been recognized in this year’s #Inc5000 List for the 6th year in a row! Our team is truly honored to be included once again amongst the most reputable businesses across the country. Check out our ranking and the full list of honorees at https://www.inc.com/inc5000

In August of 2022, the Inflation Reduction Act was officially signed into law, adding tax benefits to those in the process of incorporating energy-efficient home improvements to their properties. This act provides a Residential Clean Energy Credit, which can provide homeowners up to 30% back in credit if they install solar onto their home. Also … Continue reading The Inflation Reduction Act

At the height of the COVID-19 pandemic, opening a business during this time was proven to be no easy feat. Limited income as a result led to the stunted growth of small and micro-businesses. As such business owners are still recovering in a post-pandemic economy and getting back to normalcy, plans to provide financial aid were recently announced by New York Governor Kathy Hochul.

As a reminder to those currently a part of the COVID-19 Economic Injury Disaster Loan (EIDL) program, all borrowers are required to submit regular principal and interest payments, beginning 30 months from the effective date of your loan.

If you received Restaurant Revitalization Funds (RRF), you are required to submit a report stating the use of funds thus far by December 31, 2021.

SMG is proud to announce our two new partners, Marc Valente and Thomas Batsilas.

The Federal American Rescue Plan Act of 2021 (ARP) includes a provision that allows certain individuals to exclude up to $10,200 of unemployment compensation received in 2020 from federal gross income.

On Tuesday, March 30 the President signed into law an extension for PPP applications pushing the deadline to apply from March 31 to May 31.

The American Rescue Plan Act of 2021 establishes a $28.6 billion Restaurant Revitalization Fund within the SBA, which will provide eligible business with a tax-free federal grant based on revenue decline. What Businesses are Eligible? Eligible businesses include restaurants, food stands, food trucks, food carts, caterers, saloons, inns, taverns, bars, lounges, brewpubs, tasting rooms, taprooms, licensed facilities … Continue reading Restaurant Revitalization Fund 2021