RBT CPAs

2025 Updates: Minimum Wage for Tipped Employees and NYS Tip Credit Despite some controversy, the minimum wage for tipped employees in New York State remains in place as of early 2025, with wage rates increasing from last year. Beginning January 1, 2025, the minimum wage rate for tipped food-service workers increased from $10.65 to $11.00 per hour in New York City, Westchester, and Long Island, and from $10.00 to $10.35 per hour in the rest of the state. The new wage rates will apply through December 31, 2025.

**Big News Alert** More exciting news to share!! We are elated to share that Nicole Gilmartin, CPA, has been admitted to the firm as a partner! We are so proud of her and wish her many congratulations on this new chapter! Nicole Gilmartin, CPA, MBA

**Big News Alert** We are super excited to share that Carolyn Bell, CPA, has been admitted to the firm as a partner! We are so proud of her and wish her many congratulations on this new chapter! Carolyn Bell, CPA

As the year comes to a close, we want to take a moment to express our heartfelt gratitude for your continued trust and partnership throughout this wonderful year. Wishing you and your loved ones a joyful holiday season filled with peace, happiness, and warmth. May your holiday spirit shine bright, whether you celebrate Christmas, Hanukkah, or the beauty of this special season. We look forward to working with you and achieving great success together in the coming year. The offices of RBT CPAs will be closed on Dec. 25th & Jan. 1st in observation of the holiday!  

As Thanksgiving approaches, we want to take a moment to express our heartfelt gratitude for your trust and partnership. Helping you navigate your financial journey is more than just a job to us—it's a privilege. Your support inspires us every day, and we're so thankful to have you as part of our community. We hope your Thanksgiving is filled with cherished moments, delicious food, and the company of loved ones. From all of us at RBT CPAs, Happy Thanksgiving! The offices of RBT CPAs will be closed on 11/28/2024 and 11/29/2024 in observance of the holiday. We will resume regular business hours on Monday! Happy Thanksgiving y'all!

"Honoring the courage, dedication, and sacrifice of our veterans today and every day. Thank you for your service and for protecting our freedom. #VeteransDay #ThankYouVeterans"

Several Ways to Operate Your Brewery and Distillery More Sustainably Sustainability is a way of operating to minimize negative impacts on the environment and use resources more effectively. Not only can it be a brand enhancer, as many potential customers feel better about doing business with companies that operate sustainably, but it can also save you money by eliminating waste and effectively using resources. Every stage of brewing presents opportunities to operate more sustainably and, possibly, save money at the same time. From the water, energy, and other resources used for each batch of brew to sourcing, packaging, and transporting your product – not to mention all of the resources used when running a facility – there are numerous ways to reduce pollution and waste, promote energy efficiency, and lower greenhouse gas emissions.

Find Money in Your Billing Processes Given the current inflationary environment, where everything from food to gas costs more, you may want to take a close look at your billing practices to help maintain and protect cash flow. Effective billing practices are essential to capturing all possible revenue and maintaining or boosting your bottom line. Services rendered may not be correctly billed due to oversight, the lack of standardized processes, or insufficient training, and the costs of these mistakes can add up over time.

Charting Your Supply Chain Strategy in Stormy Waters With escalating trade wars, geopolitical uncertainties and conflicts, the pending Presidential election, and more, U.S. manufacturers continue to navigate choppy waters to chart their supply chain strategy. Building on President Trump’s 2018 tariff increase on goods from China, in mid-May, President Biden set out to address unfair trade practices and “artificially low-priced exports” from China that are “threatening American businesses and workers.” Under Section 301 of the Trade Act of 1974, tariffs are increasing on $18 billion of imports from China. Tariffs on electric vehicles are increasing from 27.5% to 100%. They are also increasing between 25% and 50% for semiconductors, steel and aluminum, batteries and critical minerals, solar cells, ship-to-shore cranes, medical products, and more.