Corviniti Accounting in New York City

Three bodies of work run out of this office. Technical accounting and reporting: revenue and lease positions under ASC 606 and ASC 842, equity and debt instruments, business combinations, the memos an auditor will actually accept, and SEC reporting for S-1, 10-K, and 10-Q filers. IPO and SPAC readiness: closing the gap between private-company books and what an effective registration statement requires, including the PCAOB audit uplift, cheap stock, the control environment, and the close process a public company has to run. Operating finance: fractional CFO work, outsourced accounting, and the bookkeeping and tax that small and mid-sized New York businesses need every month. The last of those is what most of our local pages cover, and it is a real practice: the same people who handle a public-company close set up a restaurant's chart of accounts.

The city taxes that reach an ordinary business: the Unincorporated Business Tax at 4 percent on the city income of sole proprietors, partnerships, and LLCs, with a return required once business gross income passes 95,000 dollars; an entity-level tax on S corporations, because New York City does not recognise the federal S election and taxes the company itself at 8.85 percent under the General Corporation Tax, which is the single most common surprise we see; the Commercial Rent Tax for tenants in Manhattan below 96th Street above the rent threshold; and the MCTMT payroll tax once quarterly payroll expense passes 312,500 dollars. On top of that, sales tax in the five boroughs is 8.875 percent, made of the state's 4 percent, the city's 4.5 percent, and the 0.375 percent MCTD surcharge. We keep the books so each of these filings has the detail it needs already sitting there, and we file them.

New York's pass-through entity tax lets a partnership or S corporation pay New York tax at the entity level, deduct it federally, and pass a credit to each owner. For a profitable firm it is usually the biggest number on the table, and the election has a hard date, so it is a decision made in advance or not at all. New York City has its own parallel election on top. The honest framing is that neither is automatic: the benefit depends on each owner's own return under the current federal SALT cap, so we model it per owner before electing. Alongside that sit the ordinary state items, the CT-6 S election that New York does require even though New Jersey no longer does, Article 9-A corporate rates including the zero percent rate for qualified manufacturers, and the sales tax registration and vendor collection credit that a retailer forfeits by filing late.

New York tests residency two ways. Domicile asks where your life actually centres, and the state examines it in detail: where the family is, where the valuables are, the size and use of the homes, the business ties, and the days. Statutory residency is simpler and catches more people: keep a permanent place of abode in New York and spend more than 183 days here, and you are taxed as a resident regardless of where you are domiciled. Separately, the convenience of the employer rule treats a workday at home outside New York as a New York workday unless the home office clears the state's bona fide employer office test, which few do. That reaches commuters from New Jersey and Connecticut and anyone working a hybrid week. These examinations turn on records, so the work is mostly done before the letter arrives. We keep the day counts and the documentation, and we represent clients through the examination itself.

Venture-backed and public companies. Technology, fintech, digital assets, and life sciences companies that need accrual books, defensible technical positions, and reporting that survives diligence or an SEC review. This is the practice the rest of the firm is built around.

Professional services firms. Law, consulting, design, and advisory firms, where unbilled work in progress, partner compensation, the city's Unincorporated Business Tax, and the PTET decision are the recurring items. Attorney trust and IOLTA funds stay strictly separated from operating cash.

Restaurants, bars, and retail. Merchant deposits net of processor fees, tips through payroll, prepared food at the full 8.875 percent, and a books-to-point-of-sale tie-out, which is exactly what a New York sales tax examiner reconstructs.

Medical, dental, and professional practices. Insurance deposits reconciled back to billed production, provider compensation splits, and the entity and retirement-plan structure that lowers tax on a high-income practice.

Real estate owners and developers. Per-property reporting, depreciation and cost segregation, passive activity and real estate professional positions, and 1031 exchanges.

Contractors and the trades. Job-level costing, work in progress, and the capital-improvement versus repair sales tax split that Form ST-124 settles.

For New York City: bookkeeping, small business accounting, business tax preparation, working with a CPA, fractional CFO services, and personal tax. Across the Hudson, where the rules change completely, we cover Jersey City and Hoboken, which matters for the very large number of New York-area households and businesses with income on both sides of the river. Ro is licensed in New York and New Jersey, so the cross-border return is handled on both sides by the same person.