Clyde, Ferraro & Co., LLP

04/08/2026

📬 Important Tax Filing Update!

The United States Postal Service (USPS) has updated its postmark rule, which could impact how timely your tax filings and payments are considered.

💡 What this means for you:

- A postmark date may no longer always serve as proof of timely mailing in certain situations
- Delays or inconsistencies in postmarking could affect filing deadlines
- Payments mailed close to the due date may be considered late if the postmark is missing or not timely applied
- Late payments could result in penalties and interest, even if you mailed them on time

✅ Our recommendation:

To avoid any risk, we strongly encourage clients to e-file and pay electronically whenever possible or send documents and payments well in advance of deadlines. Using certified mail or tracking can also provide added protection.

Have questions about how this impacts you? We’re here to help—reach out anytime!

12/24/2025

The staff of Clyde, Ferraro & Co. would like to wish you all a Merry Christmas!

Our office will be closed December 25th and 26th to enjoy the holidays with our families and friends. We will return December 29th with regular business hours.

08/20/2025

New 2025 Federal Senior Deduction – A Little Bonus from Congress

The One Big Beautiful Bill (2025) increased the standard deduction, effectively reducing taxable income for all taxpayers - that’s a win for everyone!

To further lower taxable income for seniors, Congress introduced a brand-new Federal Senior Deduction ($6,000) for taxpayers age 65+.

What it means:
• More room before your Social Security gets taxed
• Plus, an extra deduction to help lower your taxable income even further
• Translation: More of your retirement money stays yours

Think of it as two perks in one bill – not perfect, but definitely worth claiming!

At Clyde, Ferraro & Co., LLP, we’ll make sure you get every dollar you deserve under the new rules.

08/12/2025

⏰ Overtime & the One Big Beautiful Bill – What’s Not Taxable

The new One Big Beautiful Bill (OBBB) says the overtime premium you earn for extra hours is not taxable for federal income tax.

What does that mean?

You still pay tax on your normal hourly rate — even for overtime hours — but the extra premium pay is tax-free.

💡 Example:
Jordan works 40 hours/week at $25/hr. One week, he works 48 hours.
· Regular pay: 48 hrs × $25 = $1,200 (taxable)
· Overtime premium: 8 hrs × $12.50 = $100 (not taxable)
So, Jordan’s paycheck:
· $1,200 taxable income
· $100 tax-free overtime premium 🎉

07/23/2025

💼 Schedule C (Sole Proprietor) vs. S Corporation: What's the Tax Difference?

If your business earns $100,000 in profit, how much can you save by switching to an S corporation?

📊 Here's a real-world example:

07/05/2025

06/30/2025

Sam Perrin, Partner, presented the Clyde, Ferraro & Co., LLP scholarship at the 10th Annual Frank Varischetti All-Star game this past Friday. The recipient was Drew Byers of Redbank Valley High School. Drew will attend Washington & Jefferson College to study accounting. Congratulations, Drew!

12/23/2024

The staff of Clyde, Ferraro & Co. would like to wish you all a Merry Christmas!

At our holiday party this year Jim was the winner of our ugly sweater contest, with Mark and Sam coming in 2nd and 3rd place.

Our office will be closed December 24th and 25th to enjoy the holidays with our families and friends. We will return December 26th with regular business hours.