Sylco Consulting Inc./Sylvain Group

Sylco is a full scale financial empowerment center offering Business Accounting & Consulting, Tax Pl Sylco is a family based business specializing in helping families Minimize Taxes and Maximize their Income for over 20 years.

We take a consultative approach and with our strategic partners, our purpose is to Accelerate and Protect their Wealth Accumulation.

Operating as usual

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Why Is It So Important That Payroll Is Precise?

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Why Is It So Important That Payroll Is Precise? Why Is It So Important That Payroll Is Precise?. Payroll is an integral part of a company's operations. The federal and state governments require employers to comply with wage and hour standards to ensure that employees are paid accurately and on time. The Internal Revenue Service and the state depa...

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How Does Business Consulting Benefit You? | www.financialhotspot.com Almost all businesses can benefit from the services of a business consultant. The consultant will work closely with you to improve the performance of your business by helping to identify challenges, advising on business strategies, and proposing practical and informed solutions. The many advantages....

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Choosing the right business structure is crucial to the success of your business.

LLC vs. S Corporation: What's the Difference? When comparing an LLC vs. S Corp, you’ll want to be aware of key differences. Both LLCs and S Corporations have pros and cons, which we cover in our guide.

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Payroll Deductions as Liabilities Vs. Payroll Expenses Payroll Deductions as Liabilities Vs. Payroll Expenses. Accounting for both the employee's and employer's portion of payroll and withholding taxes is often confusing for first time employers. For the employees' share, taxes have to be calculated based on Internal Revenue Service (IRS) tables and wit...

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What Is a Personal Financial Statement?

What Is a Personal Financial Statement? A personal financial statement is a document outlining an individual's financial position at a point in time based on their assets and liabilities.

How to Keep Good Records for Tax Time | www.financialhotspot.com 04/22/2022

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How to Keep Good Records for Tax Time

How to Keep Good Records for Tax Time | www.financialhotspot.com If you fail to keep good records throughout the year, tax time can be a challenge. Therefore, you should closely monitor your revenue, expenses, and potential deductions throughout the calendar year to ensure a complete and accurate tax return. The guidelines and principles below will help you colle...

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Reconstructing lost records will help you get more assistance

Picking Up the Paperwork Pieces in the Wake of a Natural Disaster Here is what you need to know about filing for tax relief and re-creating important property documents after a fire, flood, tornado, or hurricane.

Too much income could see SSI benefits reduced or revoked altogether. 04/20/2022

Too much income could see SSI benefits reduced or revoked altogether.

If you’re a beneficiary of Supplemental Security Income (SSI) and you also have a job or other income stream, is it possible to earn too much money?

Too much income could see SSI benefits reduced or revoked altogether. To be eligible for Supplemental Security Income (SSI), an individual beneficiary cannot breach certain income or asset limits.

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You need to know this number if you're going for a mortgage.

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The longer you've lived, the more likely you are to have more in savings

Average Savings by Age No one but yourself can answer how much you should be saving, but you can look to your peers to compare your progress against them.

Why Is Compound Interest So Powerful? | www.financialhotspot.com 04/15/2022

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Why is Compound Interest so Powerful?

Why Is Compound Interest So Powerful? | www.financialhotspot.com Compound interest is calculated by combining the initial principal of a loan with its previously accumulated interest. When prior interest is included in the balance of the loan, the interest is essentially reinvested, generating higher yields as time passes. Financially literate investors utilize t...

The Basics of Roth IRA 04/14/2022

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What Is a Roth IRA?

The Basics of Roth IRA A Roth IRA is an individual retirement account (IRA) that allows qualified withdrawals on a tax-free basis if certain conditions are satisfied.

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Thinking about hiring an accountant or bookkeeper? Here's what you need to know about these two roles to determine which one your business needs.

Accountant vs. Bookkeeper: What's the Difference? - businessnewsdaily.com Business owners may consider hiring an accountant or bookkeeper. Learn the difference and how to choose the right financial help for your company.

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Still working remote? Here are some do's and don'ts'

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What GAAP Principles Mean for Your Business | www.financialhotspot.com 04/08/2022

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What GAAP Principles Mean for Your Business
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What GAAP Principles Mean for Your Business | www.financialhotspot.com Implementing GAAP accounting standards ensures accuracy and compliance, so you can be confident in running your business.

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When to Hire a Bookkeeper or Accountant

When QuickBooks takes you only so far, it's time to bring in a financial pro.
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It is never to late to start saving for retirement! These 3 tips could help you make a difference in your finances. Make an appointment with us to discuss an individualized financial plan perfect for you! https://bit.ly/37zmowL

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A Roth IRA can yield some tax benefits, which includes the tax-free qualified distributions. While compensation is a requirement for Roth IRA contributions, Social Security Disability Insurance is not considered to be compensation. For more personalized assistance in retirement planning and investing, contact us today! https://bit.ly/3tBeIBq

Can I Invest Social Security Disability Payments in a Roth IRA? Social Security disability payments may or may not count as earned income. Learn when you can or can't use them to invest in a Roth IRA.

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It’s tax season! Make this tax year a breeze by following these easy and stress-reducing tips for filing. For tax services and assistance, make an appointment with us today – we would love to help! https://bit.ly/3KKZyQV

2022 Tax Season: 10 Tips to Make Filing Easier - Experian Speed up your refund by e-filing, claiming all your credits and deductions, accounting for new income and checking for accuracy.

When Do You Need a Tax Attorney? | www.financialhotspot.com 04/01/2022

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Get Transcript | Internal Revenue Service 03/31/2022

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Did you know that you can get a free digital copy of your tax transcript from the IRS website? Check it out here: https://bit.ly/3MSOcMI

Get Transcript | Internal Revenue Service Get your tax records online or by mail including prior-year tax returns, tax account transactions, wage and income statements and confirmation of non-filing letters.

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Taking the time to research and familiarize yourself with a new stock is key when looking to add to your portfolio. If you need any investment guidance, please contact us today. https://bit.ly/3Ia79a1

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Roth IRA: How it Works - NerdWallet 03/28/2022

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A Roth IRA is an individual retirement account that allows you to pay taxes before the money goes into your account. If you want to learn more about how Roth IRAs work and their benefits, read the article below: https://bit.ly/3ibkOTS

Roth IRA: How it Works - NerdWallet A Roth IRA is a retirement account in which after-tax money grows tax-free and withdrawals are tax-free. Here's how a Roth IRA works, who qualifies and FAQs.

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Self-Employment Tax (Social Security and Medicare Taxes) | Internal Revenue Service 03/24/2022

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Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. Contact us today for assistance with filing your taxes. https://bit.ly/31En1Po

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Child Tax Credit 2021-2022: FAQs & How to Claim - NerdWallet 03/23/2022

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Want to know whether or not you qualify for child tax credit? If you do, what should you expect? Learn more about 2021-2022 Chlid Tax Credit: https://bit.ly/36mZEiH

Child Tax Credit 2021-2022: FAQs & How to Claim - NerdWallet The child tax credit was expanded to up to $3,600 for the 2021 tax year. Here’s what you need to know about the credit and how it will affect your taxes.

Business Taxes | Internal Revenue Service 03/22/2022

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If you're a small business owner or an entrepeneur, you'll have to file five general types of taxes. Schedule a consultation with us today if you need help with filing your taxes. In the meantime, read more about those five different types here: https://bit.ly/3cmgteh

Business Taxes | Internal Revenue Service Learn about the types of federal business taxes.

Get business insurance 03/21/2022

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Questions to Ask Your Business Tax Preparer | www.financialhotspot.com 03/18/2022

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2141 Cortelyou Road
New York, NY
11226

Opening Hours

Monday 10am - 8pm
Tuesday 10am - 8pm
Wednesday 10am - 8pm
Thursday 10am - 8pm
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Saturday 10am - 8pm

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