In The News

FINCEN Removes Beneficial Ownership Reporting (BOI) for US Companies and US Persons

Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.
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PNL takes part in DRESS in GREEN on March 17th


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Piaker & Lyons Gives Back to the Community


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* 2025, 2024, and 2023 Pension Plan Limitations & SS Wage Base

2025, 2024, and 2023 Pension Plan Limitations & Social Security Wage Base


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* Section 179 and Bonus Depreciation

For convenience purposes, we have listed below the current amounts of the Section 179 and bonus depreciation limits.   As with all tax regulations, there are stipulations and exceptions.   Please call us with any planning we can assist you with.
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* State Unemployment Insurance Taxable Wage Base

 
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* Estate & Gift Tax Threshholds

The federal estate top tax rate is 40%.   The Federal estate tax exemption is $13,990,000 for 2025.   The exemption for 2024 is $13,610,000.  The annual gift exclusion is $19,000 in 2025 and $18,000 in 2024.

The NYS estate basic exclusion amount is $6,940,000 for deaths in 2024.   The top tax rate is 16%. 

 

 

 

 

 


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Michael Nicolini Promoted to Manager and Janet Avery Promoted to Senior Accountant


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* PNL Triennial Peer Review Results

We were notified by the Peer Review Committee Reporting Acceptance Body that our most recent triennial peer review report with a pass rating was accepted.  A "pass" rating is the highest form of rating a CPA firm can receive.
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Consolidated Appropriations Act, 2023 including Secure 2.0 Act of 2022

President Signs Omnibus Bill; Including Secure 2.0 Act of 2022
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Inflation Reduction Act of 2022 Signed into Law

President Signs Scaled Back Reconciliation Bill Into Law
On August 16, 2022, President Joe Biden signed the Inflation Reduction Act of
2022 into law. The bill was passed by Congress after a 220-207 vote in the House
on August 12, 2022.


President Signs $1.9 Trillion Bill Into Law

On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021
into law.
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Coronavirus Aid, Relief, and Economic Security (CARES) Act


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The Tax Cuts and Jobs Act


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