Read the latest on the impact of COVID-19 and BST's response.

Tax Implications When Lenders Cancel Debts in the COVID-19 Era

In the COVID-19-ravaged economy, debts can pile up beyond a borrower's ability to repay. Lenders sometimes may be willing to forgive (or cancel) debts that are owed by certain borrowers. While debt forgiveness can help struggling borrowers survive financially, it can sometimes trigger negative tax consequences. Here's what borrowers need to know about the tax implications of so-called "cancellation of debt" (COD) income.  Read More 

BST & Co. CPAs, LLP announces series of new hires, promotions

ALBANY, NY – October 21, 2020 – BST & Co. today announced a series of new appointments and promotions within several departments at the financial and management consulting firm.  Read More 

Webinar Recording: Pre-election Financial Planning

 Robert Canterbury from BST Wealth Management presents Pre-election Planning and Strategy. With the presidential election rapidly approaching, now is a good time to evaluate your  Read More 

COVID-19 Relief: New Rules for Deducting Charitable Contributions

No matter what any of us have tried to accomplish in 2020, it certainly has been harder to achieve. That is the case for not-for-profit organizations, which depend on charitable giving to support their mission. If you are philanthropically minded and planning to support your favorite non-for-profit, the CARES Act made some changes to the deduction rules that reward you for your generosity.  Read More