Allied CPAs - Allied Financial Services

10/16/2026

"Old age is like everything else. To make a success of it, you've got to start young,” observed Teddy Roosevelt.

You can plan ahead to protect yourself and your family against the financial consequences of deteriorating health.

10/14/2026

The gift tax annual exclusion is a simple way to transfer assets gift-tax-free. To qualify, a gift must be of a “present interest” — an unrestricted right to the immediate use of the property or the income from it. So a gift to a trust generally doesn’t qualify. But gifts to a trust with a “Crummey” provision can. After each gift to a Crummey trust, beneficiaries receive temporary withdrawal rights lasting at least 30 days. If they don’t withdraw the gift, the amount remains in the trust until distributed in the future according to the trust’s terms. Call us at (585) 410-6733 for details.

10/13/2026

Navigating tax law isn’t easy. But you don’t have to go it alone. Whether you’re an individual taxpayer or running a business, we can help you find your way through the forest of tax complexities. Call us at (585) 410-6733 to get started.

10/12/2026

October 13 is Indigenous Peoples' Day. We celebrate the resilience of Native Americans, and recognize their invaluable contributions to diversity, knowledge, labor, technology, science, philosophy, the arts, and so much more.

10/12/2026

Estate tax laws are complex, and failing to plan could mean leaving your loved ones with less than what you’d expected. Now is the time to take action by reviewing your estate plan, updating beneficiary designations, and exploring strategies such as gifting or establishing trusts that may help minimize tax exposure. Every situation is unique, and the right approach depends on your family’s needs, assets and long-term goals. Contact us at (585) 410-6733 for assistance structuring your estate in a tax-efficient way.

10/10/2026

🏇 We’re excited to continue Allied’s annual support of the Genesee Valley Hunt Races!

We’re proud to support this wonderful tradition and the community that makes it so special. We look forward to another exciting day at the races!

10/09/2026

If you’re responsible for collecting, accounting for or remitting federal taxes withheld from employee paychecks, beware of the trust fund recovery penalty (TFRP). As a responsible individual, you may be personally liable for a 100% penalty on income and employment taxes your business either fails to collect or fails to remit to the IRS. Your actions must be “willful,” meaning you’ve been, or should have been, aware of the responsibility and either intentionally disregarded the law or were indifferent to it. According to the IRS, no “evil intent or bad motive” is required. Call us at (585) 410-6733 if you receive a letter from the IRS about the TFRP or for help with tax compliance.

10/09/2026

There are ways to protect your business in the event of your death or the death of a partner.

It may help your business be better prepared in the event of the death of a principal or key employee.

10/07/2026

If you ever wonder how your business’s financial results stack up against others in your industry, consider a benchmarking study. It can show you exactly where you stand. Contact us at (585) 410-6733 to get started. We’ll help you compare key financial metrics, highlight what you’re doing well and uncover areas that need attention. From there, we’ll help build a strategy to strengthen your financial footing and minimize risks in an ever-changing market. Let’s turn your financial statements into action plans!

10/06/2026

Effective year-end planning involves making informed choices that support your long-term goals. This requires you to think beyond reducing taxes for the current year. Whether you’re reviewing operations, considering future investments or evaluating tax-saving opportunities, a proactive approach can help you address the challenges and opportunities ahead. Call us at (585) 410-6733 for guidance on positioning your business for continued success.