All of our offices will be closed on Monday, September 5
in observance of Labor Day.
Office Announcements
2021 Tax Return On Extension? If you have not submitted 2021 tax information for your personal return, be sure to send it to our office before September 15 to ensure it is completed before the filing deadline.
PTET Election: If you missed out on making the election by the original due date of March 15, 2022 New York State has extended the deadline to September 15, 2022. The election needs to be made on your New York State portal. Please send a confirmation of your election to your accountant.
Sustainability & Impact Investments
While most people would agree that “leaving the world a better place than we found it” is a worthy goal, many find that it’s not the easiest task to accomplish. Aside from adhering to the “reduce, reuse, recycle” mantra, are there ways your money can help achieve this goal? Enter, Sustainability & Impact Investments.
These are investments that generate both financial returns and social or environmental benefits. Sustainable Investing is undergoing a transition: once upon a time, it was a niche market for well-capitalized financiers. Today, it is a growing component of portfolios on Main Street, with organizations such as the World Economic Forum and Aspen Institute exploring ways to get involved.
Sustainable Investing has seen dramatic growth in assets and demand for investment vehicles. However, given the confusing overlap of terminology and the relative lack of tenure (compared to more traditional asset classes), there is an even greater need for investors to understand the various options. This in-depth white paper can give you more insight into the different considerations.

If you’d like to discuss Sustainability & Impact Investing and how it might play a role in your portfolio, give us a call. We’d love to hear your thoughts and answer any questions you may have.
New Buffalo Office
Our Buffalo branch is officially moved in to their new office.
We hope you will stop by and say hello!

Our telephone and fax numbers have not changed.

New Physical Address:
501 John James Audubon
Suite 390
Getzville, NY 14068

New Mailing Address:
501 John James Audubon
Suite 390
Amherst, NY 14228
2022 Educator Expense Deduction Increase
For the first time since the special educator expense deduction was enacted in 2002, the annual limit has increased. For tax-years 2002 through 2021, the limit was $250 per year. This means for people currently filing their 2021 tax returns due in April, the deduction is limited to $250. The limit will rise in $50 increments in future years based on inflation adjustments.

For 2022, an eligible educator can deduct up to $300 of qualifying expenses. If they are married and file a joint return with another eligible educator, the limit rises to $600. But in this situation, not more than $300 for each spouse.

Who qualifies? Educators can claim this deduction, even if they take the standard deduction. Eligible educators include anyone who is a kindergarten through grade 12 teacher, instructor, counselor, principal or aide in a school for at least 900 hours during the school year. Both public- and private-school educators qualify.

What's deductible? Educators can deduct the unreimbursed cost of:
  • Books, supplies and other materials used in the classroom.
  • Equipment, including computer equipment, software and services.
  • COVID-19 protective items to stop the spread of the disease in the classroom.
  • Professional development courses related to the curriculum they teach or the students they teach. For these expenses, it may be more beneficial to claim another educational tax benefit, especially the lifetime learning credit. For details, see Publication 970, Tax Benefits for Education, particularly Chapter 3.

***Qualified expenses don't include expenses for home schooling or for nonathletic supplies for courses in health or physical education. As with all deductions and credits, the IRS reminds educators to keep good records, including receipts, cancelled checks and other documentation.

Your Money Matters
This month features the great debate of active vs. passive investments, setting up your financial goals for success, some personal finance tips for military families and ways to protect against identity theft. Hope you enjoy, and as always, reach out with any questions.

Your Money Matters is a monthly blog post that pulls together financial articles and videos of interest. We hope you enjoy!
Payroll Clients: In light of growing fraudulent direct deposit claims, please verbally confirm with your employee if you receive an email notification of a bank account change before you send the change to you payroll specialist.
Help our team grow!

Allied Financial Partners is always looking to attract new talent. If you or someone you know is interested in joining our team check out the opportunities page on our website.
Online Credit Card Payments Payments to Allied CPAs, PC and Allied Payroll Services can be made online at Look for the Make A Payment button on the top right corner of our website. AFP accepts Mastercard, VISA and Discover. Please note: Electronic payments cannot be accepted for financial planning or investment services.

Contact Our Office
Buffalo | (716) 694-0336
Cooperstown | (607) 282-4161
Oneonta | (607) 432-3462
Perry | (585) 237-3887
Rochester | (585) 410-6733
Victor | (585) 410-6733
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Securities offered through Registered Representatives of Securities America, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Securities America Advisors, Inc., a Registered Investment Adviser. Tax services provided by Allied CPAs, PC. Allied Financial Partners and Allied CPAs, PC are not affiliated with Securities America.

To be eligible for the Rochester Chamber Top 100, businesses must be privately held, headquartered in the nine-county Rochester region, and have earned at least $1 million in revenue in each of the three most recent fiscal years. The Rochester Chamber Top 100 is computed based on revenue growth, taking into account both dollar and percentage growth.

Top Workplaces Award is given based on employee survey results.