TBC Information Network

Teal, Becker & Chiaramonte offering valuable insights, impressions and commentary on today's financial and business world.

Important Update: QuickBooks Desktop 2021 Discontinuation

As of May 31, 2024, QuickBooks will be discontinuing support for QuickBooks Desktop 2021, impacting the software’s functionality. What You Need to Know: Companies on QuickBooks Desktop Payroll who do not select a new subscription before May 31, 2024, will lose the ability to run payroll or file payroll taxes. Exploring Options: Many QuickBooks desktop… [keep reading…]

LTPTE Changes

What Is Changing? 401(k) plans no longer can have a service condition that prevents an employee from making 401(k) salary deferrals if they have worked for your company at least 500 hours for 3 consecutive years. Example: Your 401(k) plan requires employees to complete a year of service (1,000 hours) before they are eligible to… [keep reading…]

IRS Form 1099-MISC & Form 1099-NEC

If, as part of your trade or business, you made any of the following types of payments, you are required by law to report certain payments of income it made during the calendar year to the IRS and to the recipient by filing Form 1099-MISC or Form 1099-NEC. The following types of payments made in the course… [keep reading…]

Teal, Becker & Chiaramonte Celebrates 50th Anniversary

Albany, NY:  2021 has marked the 50th anniversary for Teal, Becker & Chiaramonte, CPAs, P.C. (TBC), the largest CPA firm based in the Capital Region. TBC has been serving thousands of clients for five decades in the areas of accounting, auditing, tax and advisory services, as well as other specialty services including pension administration services,… [keep reading…]

Scisci Named Managing Partner

Teal, Becker & Chiaramonte, CPAs, P.C. (TBC), announces that Pasquale M. Scisci has been elected as their new Managing Partner, succeeding James W. Drislane, who served for six years. The succession took effect June 1st, 2019. “I am honored that the shareholders have entrusted me to serve as Managing Partner, “Scisci said. “I am excited… [keep reading…]

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