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PFC Note to Clients

To our valued clients and associates, The IRS recently issued Notice 2020-17 (included below as issued) and it has caused some confusion among taxpayers.  Paresky Flitt & Company is here to help provide you with some clarity on the recently issued Notice...

Vacation Rentals Now Subject to Occupancy Tax

On December 28th, 2018 the governor signed HR 4327 into law, subjecting short term rentals to the same 5.7% state occupancy tax as hotels, bed and breakfasts, and motels.  Municipalities can also subject these rentals to a local occupancy tax (up to an additional 6%)....

Eleventh Hour to Renegotiate Expense Reimbursements

With 2018 ending, employees with significant unreimbursed expenses are almost out of time to renegotiate their expense reimbursement terms.  The Tax Cuts and Jobs Act removed the ability to deduct all miscellaneous expenses subject to a 2% limitation, including...

When Can I Deduct My Home Equity Interest?

Last year’s Tax Cuts and Jobs Act removed the itemized deduction for home equity interest for 2018 onward.  At first blush this would appear a straightforward prohibition of the deduction for interest on any loan not used for the original purchase of a home.  As with...

Due to coronavirus health and safety concerns, we have suspended all in person meetings.

We are asking that you use our secure portal, conventional mail or the dropbox in front of our office for the exchange of documents.