Isidor Hefter: A look at the American Institute of Certified Public Accountants

The American Institute of Certified Public Accountants (AICPA) is the largest member association representing the accounting practice, with almost 386,000 members, including Isidor Hefter of Rosen Seymour Shapss Martin & Company LLP.

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The AICPA maintains a set of ethical standards for the accounting profession and US auditing standards for audits of private companies, nonprofit organizations, federal, state, and local governments. AICPA members represent many areas of practice, including business, consulting, private practice, government, and education. On behalf of its members, the AICPA monitors and advocates on legislative and other issues affecting certified public accounts globally. Partnering with other CPA professional organizations, the AICPA educates federal, state, and local policymakers about key issues, including the following:

• Taxation. The AICPA advocates on behalf of CPA members, like Isidor Hefter, with federal lawmakers and regulators to represent all CPAs and help create a more workable tax system for practitioners and taxpayers.

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• Federal issues. The AICPA helps promote effective policymaking by developing Congressional testimony and working with federally elected officials and regulatory agencies.

• State regulation and legislation. As an information and resource provider, the AICPA monitors regulatory and legislative trends, assists discussions, and moderates information sharing.

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Isidor Hefter is also a member of the New York State Society of Certified Public Accountants. For more information about him and his work, visit this Facebook page.

Isidor Hefter: Is food exempted from sales tax?

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Rosen Seymour Shapss Martin & Company LLP senior partner Isidor Hefter specializes in taxation. He lectures in the firm’s continuing education program, focusing on the areas of federal and state income taxes, and sales and use taxes. This article discusses what kinds of food and food products are subject to sales tax and which of them are exempted.
 

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The New York State Department of Taxation and Finance affirms that food and food products, sold at groceries and convenience stores, are exempted from sales tax. Below is a list, although not inclusive, of food items that may not be taxable:

• Snack cakes and cookies
• Packaged salads sold by the pound
• Fruits and vegetables
• Meat
• Canned products
• Dairy items
• Snack items like potato chips, pretzels, popcorn, and nuts unless sugar-coated, chocolate-coated, candy-coated, or honey-coated

Isidor Hefter is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. 

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However, under certain circumstances, some food items are sold with tax. These include the following:

• Heated food - soups, pizza products, rotisserie chicken
• Food for consumption on the premises - restaurant and coffee shop items
• Food prepared by the seller and is ready for consumption - sandwiches, ice cream preparations, and meals 

From: Isidor Hefter

To learn more about Isidor Hefter and taxation tips, visit this Facebook page.