MICHAEL S. GAWEL, CPA, JD NIAGARA BOOKKEEPING & ACCOUNTING FILING STATUS Get ready for Taxes! It is January and Tax time is here. Niagara Bookkeeping & Accounting is open and ready to prepare your 2024 tax returns. New clients can call Michael at (716)-622-0700 for an appointment and existing clientsRead More

By Michael S. Gawel, JD, CPA Rental Income For Niagara Falls resident’s rental income is one of the most common forms of taxable income and one of the most misreported. People often start collecting rental income from a spare bedroom, garage apartment, upper apartment or inherited property but forget toRead More

Michael S. Gawel, JD, CPA Beneficial Ownership Information In 2021 Congress passed the Corporate Transparency Act. As of 2024 the US Department of the Treasury’s Financial Crimes Enforcement Network (FINCEN) requires most domestic and foreign businesses that are registered to do business in the US to report their Beneficial OwnershipRead More

By Tony Farina Entertainment begins at 4:30 this afternoon (Monday, Oct.14) at Wilbur’s Bar on Cayuga Dr., Niagara Falls, where former councilmember Michael Gawel will formally announce his candidacy for city council next year. Gawel, a CPA, pledges to run hard for a seat on the council to help bringRead More

I rarely praise Democrats for legislation, but U.S. Senator Charles Schumer has been doing a great job for New York State. Senator Schumer spearheaded the Federal technology hub program that resulted in Buffalo, Rochester and Syracuse joint effort to win $40 million in a competition run by the U.S. EconomicRead More

By Michael S. Gawel, CPA, JD I was at Wilbur’s Friday night enjoying a cold PBR and someone asked me, “Mike, what Income do I have to report on my Tax Return?” My simple answer was ALL. Gross income for Federal Income Tax purposes means all income from whatever source,Read More

By Michael S. Gawel, CPA, JD Dependency? Who can be claimed as a dependent? Who can claim that person as a dependent? A dependent must be a person, not your dog cat or 56 Chevy. A dependent is an individual who is the taxpayer’s qualifying child or qualifying relative forRead More

MICHAEL S. GAWEL, CPA, JD NIAGARA BOOKKEEPING & ACCOUNTING FILING STATUS After entering your Social Security number choosing your filing status is the first thing all taxpayers must do. There are five choices: single, married filing jointly, married filing separate, head of household and surviving spouse. Single is for anRead More

MICHAEL S. GAWEL, CPA, JD My name is Michael S. Gawel and I have been a Certified Public Accountant since 1980. I have a BBA in Accounting and a JD from SUNY @ Buffalo School of Law. I am going to write a weekly tax advice column for the NiagaraRead More