EZKR, the leading full service accounting
and consulting firm in Westchester,
offers the value of deep resources and
attentive service to small to mid-size
companies and high net worth individuals.

News & Events
Useful Info & Resources
EZKR CLE Courses

Forensic Accounting
"Reality's Bite"

Forensic Accounting
"How to Make a Winning Case
Out of Nothing"

Business Valuation
"Nuts, Bolts, Traps and Pitfalls"

Business Valuation
"Does the Business Valuation Expert Measure Up?"

EZKR - The Firm of Choice

EZKR is Westchester's leading full service Certified Public Accounting and Consulting firm. We are a progressive, forward-looking firm on the forefront of the accounting profession.

The Services You Need and the Services You Want

EZKR provides the expert services you need - tax returns, financial statements and other financial reporting requirements, but more importantly, we provide the services you want - financial and business development consulting services that preserve your assets, grow your company, enhance your financial well-being and solve the business problems that stall your company's growth and add stress to your life.

EZKR provides its clients with the trusted long-term relationships and attention localized CPA firms are known for. We have developed the unique ability to provide large accounting firm resources while delivering high quality services to both small and mid-size companies and high net worth individuals.

Pro-Active and Effective

Client service forms the foundation of our business philosophy. We are committed to delivering cost-effective, professional and reliable services that provide our clients with value in many ways.

Understanding that each business, organization and individual has their own issues, opportunities and special challenges, we take the time to learn our clients' business or personal financial needs and goals.

IRA Owners' Charitable Contributions

Through the end of 2011, older owners of individual retirement accounts (IRAs) have a different way to give to charity. An IRA owner age 701/2 or over can directly transfer, tax-free, up to $100,000 per year to eligible charities. Known as a qualified charitable distribution (QCD), this option is available for distributions from IRAs, regardless of whether the owners itemize their deductions.

Distributions from employer-sponsored retirement plans, including SIMPLE IRAs and simplified employee pension (SEP) plans, are not eligible to be treated as qualified charitable distributions.

For tax-year 2010 only, IRA owners can chose to treat QCDs made during January 2011 as if they occurred in 2010.

To qualify, the funds must be contributed directly by the IRA trustee to an eligible charity. Amounts so transferred are not taxable and no deduction is available for the transfer.

Not all charities are eligible. For example, donor-advised funds and supporting organizations are not eligible recipients. Taxpayers must remember to check eligibility of the charity before requesting a QCD. All QCDs from an IRA to eligible charities are counted in determining whether the owner has met the IRA's required minimum distribution. Where individuals have made nondeductible contributions to their traditional IRA's, a special rule treats QCD amounts as coming first from taxable funds, instead of proportionately from taxable and nontaxable funds, as would be the case with regular distributions.

IRS Issues Guidance Explaining 2011 Changes to Flexible Spending Arrangements

The Internal Revenue Service issued guidance reflecting statutory changes regarding the use of certain tax-favored arrangements, such as flexible spending arrangements (FSAs), to pay for over-the-counter medicines and drugs.

The Affordable Care Act, enacted in March, established a new uniform standard that, effective Jan. 1, 2011, applies to FSAs and health reimbursement arrangements (HRAs). Under the new standard, the cost of an over-the-counter medicine or drug cannot be reimbursed from the account unless a prescription is obtained. The change does not affect insulin, even if purchased without a prescription, or other health care expenses such as medical devices, eye glasses, contact lenses, co-pays and deductibles. The new standard applies only to purchases made on or after Jan. 1, 2011, so claims for medicines or drugs purchased without a prescription in 2010 can still be reimbursed in 2011, if allowed by the employer’s plan.

A similar rule goes into effect on Jan. 1, 2011 for Health Savings Accounts (HSAs), and Archer Medical Savings Accounts (Archer MSAs).

Employers and employees should take these changes into account as they make health benefit decisions for 2011.

For details on current rules, see Publication 969, Health Savings Accounts and Other Tax-Favored Health Plans.

Updates on this and other health care reform provisions can be found on the Affordable Care Act page on IRS.gov. Notice 2010-59 and Revenue Ruling 2010-23, posted today, further explains this change.

NYS Track your refund

IRS Track your refund

The Internal Revenue Service issued the 2011 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on January 1, 2011, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 51 cents per mile for business miles driven
• 19 cents per mile driven for medical or moving purposes
• 14 cents per mile driven in service of charitable organizations

The new rates for business, medical and moving purposes are slightly higher than last year's.

Taxpayers always have the option of calculating the actual costs of using their vehicle rather than using the standard mileage rates.

Beware of Phony IRS Emails
Services
Download EZKR Firm brochure

Litigation Support Group brochure