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This is one question I love…not quick and not easy but so rewarding when we can help our clients and have an impact on their peace of mind. 😊 It’s June 12th and next week your 2026 estimate #2 is due 📅. We’ve held several client meetings this week; this blog post was inspired by them. Yes, they started with a discussion regarding year-to-date business operations 📊, our next tax…  Read more

Many of my blog post ideas come directly from questions from and conversations with our clients, and I’m using that inspiration again for this week’s topic: The Trump Savings Account Under OBBBA as it’s time to start the sign-up process for contributions beginning July 4th 2026 Last August, I wrote a blog post titled: “I Have a Quick Question… Can I Invest Money in the New Trump Savings Account Under the…  Read more

We have been getting this question a lot recently, and since many of my blog post ideas come directly from conversations with our clients, I’m using that inspiration again for this week’s topic. 😊 It’s springtime 🌷🧹 — which means many people are cleaning out closets, garages, basements, and of course… those overflowing file cabinets filled with old tax returns and paperwork. But before you start shredding everything in sight……  Read more

The answer:  Yes, and be aware of the changes.  My post ideas often come from recent discussions with tax clients.  This week we spoke with several clients about tax planning/intentional charitable giving and I actually thanked one of them who is extremely charitable but has not been itemizing for the last few years. I needed inspiration and he gave me some… ✅ What’s New for those Who do Not Itemize Deductions…  Read more

Business growth is often interpreted as progress. Increasing revenue 📈, expanding teams 👥, and entering new markets 🌎 are generally taken as indicators that a company is moving forward, but unless you are meeting short-term and long term goals, are you successful…or just busier, AND are you still enjoying the work you are doing…AND are you making a difference in the lives of your customers, patients, clients, staff and just…  Read more

The answer:  Yes and No.  My post ideas often come from recent discussions with tax clients; this week we spoke with 2 clients about planning/saving for college tuition for their children.. The questions were important (and we were glad to help): One long-time tax client and partner in a law firm who moved from NYS which did offer a “good” current tax benefit (approximately $600 of tax savings from a $10,000…  Read more

IR-2026-49 released April 10th with the IRS final regulations on the “No Tax on Tips” provision from the One Big Beautiful Bill (OBBA) originally passed in July 2025.  We were in “extension mode” here in our office, but had seen the updates and confirmed they did not affect any of the previously completed and filed 2025 tax returns for our clients.  Of course there are no free rides, but we …  Read more

Many tax outcomes are determined long before a return is prepared. By the time filing season arrives, most financial decisions affecting that year’s tax liability have already been finalized through hiring choices, compensation adjustments, investments, operational changes made months earlier, or NO tax planning or NO tax minimization strategy implementation. For businesses experiencing growth,  operational change, or just continuing on the same path, tax planning that occurs only once a…  Read more

As you read today’s blog post, I will have already taken a short barefoot walk 👣on the beach 🌊… happily on the other side of April 15, 2026, arrived at JFK, and boarded my flight to Snowbird, Utah ✈️🏔️ Stay tuned for next week’s blog — I may even include a photo of the mountains! 📸 I want to share an important tip for next tax season — one I…  Read more

Tis a few days before the 2026 tax deadline and all through the office… keyboards are clicking, phones are ringing, and our coffee maker is working overtime ☕.  Thank goodness my husband David brings in coffee and bagels in the morning then shows up around 1 PM with pizza, salads, gyros or Chinese food from our favorite Brooklyn eateries. Our team is busy finalizing tax returns, preparing extensions, requesting e-file…  Read more

Every week, we see more headlines about how AI can do everything — write emails, summarize books, create images, and even answer tax questions in seconds.  And yes… AI can be helpful.  But AI is NOT your CPA or trusted advisor. When it comes to tax law, context matters. Interpretation matters. Strategy matters. And most importantly… experience matters. 💼 AI is a Tool… Not a Decision-Maker 🔧 AI can scan…  Read more

As April 15th approaches, many taxpayers feel pressure to finalize their return — even when key information is still outstanding. The good news? Filing an extension can provide valuable breathing room without losing control of your tax position. An extension can give you additional time to file your 2025 tax return, while still allowing you to make a timely payment toward: any estimated balance due for 2025, and your first…  Read more

Let’s clear something up right away… Filing an extension is not a failure—it’s a strategy ✔️ In fact, when done correctly, it’s often the smartest and most cost-effective move you can make during tax season. The Myths vs. The Truths 👇 ❌ Myth: A tax extension lets me file and pay later (with no consequences). ✅ Truth: An extension gives you more time to file, not more time to pay.…  Read more

Choosing a business entity is often one of the earliest structural decisions an owner makes. At the start, the priority is typically practicality: launching operations quickly, limiting liability, and keeping administrative complexity manageable. In that context, the initial entity choice usually serves its purpose, however… when we consider a business’s entity choice, we discuss both the legal and tax entity AND choose based upon current and future expectations. Recently several…  Read more

Tax season has a funny way of sharpening our focus, yes it’s tax season and tax planning season all year round, but from January through April we also need to be mindful of those government imposed deadlines. When deadlines are stacked, returns are moving through review, and clients are looking for answers, there’s very little room for distraction. Every step matters. Every process needs to work properly. Every decision needs…  Read more

Do you ever feel like your business has too many cooks in the kitchen: your accountant says one thing, your attorney another, and your financial planner a third? 🍲 It’s not you. It’s the setup.  Many businesses follow the process of “hire first then grow”, while others ask for help from their advisory team when they feel overwhelmed or are “flying by the seat of their pants” looking for help from their…  Read more

Many small business owners, medical practitioners, law firm owners and visionary start-up entrepreneurs, treat their business structure like it’s just paperwork.  Even those businesses that have been successful for many years may benefit from a review of their tax entity.   This is NOT a form to sign, a box to tick, something you set once and never look at again, something you chose because you thought it was the right choice…  Read more

Are there thoughts running through your head at the end of the day😔, when you are desperately trying to sleep💤, something you have heard from other small business owners, other medical practitioners at conferences? You are not alone, this rings true for many small businesses, even those that may be or appear to be hugely successful.  Running a medical practice (YOU CAN SUBSITIUTE small business, law firm, start-up HERE) may…  Read more

If there’s one shift I’ve watched push businesses forward more than anything else these past few years, it’s this: the move from a reactive mindset to a predictive one…Rrrrrrright not forecasting revenue or planning for taxes…I’m seeing the deeper shift: initiate change as your advisory team shares insights, aligns strategies, and works from data that connects cleanly…Advisory TEAM???? Yes, remember there’s no i in team… That’s when you stop playing…  Read more

Welcome to tax season 2026, or should I say welcome to tax minimization season 2026.  It seems like the learning and hence the tweaking never stops.  A favorite expression in our firm is “any day I learn something new is a good day” and we we have had many. Our the past few months my blog posts have focused on the One Big Beautiful Bill Act (OBBBA), the changes for…  Read more