Blog

The answer, of course, is “it depends” — and it’s not quick or easy.  Like most things tax-related, the answer is tailored to each client’s circumstances and goals AND of course the tax law! Over the past few weeks, our office has spent 20+++ hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21.  We’ve been learning the law and discussing how…  Read more

The answer, of course, is “it depends” — and it’s not quick or easy. Like most things tax-related, the answer is tailored to each client’s circumstances and goals.  Over the past few weeks, our office has spent 20++ hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21. We’ve been learning the law and discussing how to educate our clients (and ourselves). Working…  Read more

The answers to these “quick and not so quick questions are never quick or easy.  Our answers are always based upon the situation, tailored to each client, their circumstances, and their goals AND of course the tax law!🙃 Over the past few weeks, our office has spent 20+++ hours attending seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21.  We’ve been  learning the…  Read more

The answer is of course not quick or easy and is always tailored to each client — your circumstances, your goals, your timeline. 💡 Just this week and last, our office spent over 20 hours attending tax seminars focused entirely on the newly passed One Big Beautiful Bill Act (OBBBA), Public Law 119-21  — yes, it’s BIG and so are the opportunities for tax savings, even as early as tax…  Read more

Just last week, our office received a call from one of our clients who had a “quick question” about selling the air rights attached to their investment rental property. The answer? 👉 Yes, we can calculate basis and estimate the tax bite 💸. But let’s be real for a second—this is the classic “putting a Band-Aid on a bullet hole” scenario. 🩹💥 The real question—and the meaningful discussion that followed—centered…  Read more

I am hoping everyone has great plans for the 4th! 🎆🎇 Let’s celebrate our country’s independence, enjoy time with friends and family and maybe even relax.  Yes, there is big news, the One Big Beautiful Bill Act (OBBBA) was finalized on July 3rd.  🧠 But remember, there is plenty of time to unpack what this bill means for you, your business, your taxes, and your long-term and short-term goals. This…  Read more

As a small business owner, like myself, you may be concerned about your own unexpected downtime. Let me share my recent experience and how our contingency plan ensured smooth sailing despite an unplanned absence.  This week, I was unexpectedly out of the office due to a bad cold. I left the office mid-Monday and only checked in briefly for emails, attended a pre-scheduled multi-party meeting, and participated in our weekly Huddle.…  Read more

As a small business owner, like myself, you may be considering enabling a remote or semi-remote work environment. Our firm has been “spread out” between Upstate NY and Florida for over 20 years. With the availability of great technology solutions, we easily pivoted during the pandemic and never looked back. In March 2020, only one team member was 100% remote. That all changed, and now only Raquel and I regularly…  Read more

🔍 Yes, it’s that time again—time to review your year-to-date income and profitability results as we calculate 2025 estimate #2 due Monday June 16th.  Let’s put a positive spin on this exercise. 😊 It’s an opportunity to determine your 2025 tax liability, schedule an appointment with us so we can help you create or update your tax plan. Don’t forget to include a cash flow review and a business operations…  Read more

Growing a business is like navigating a road trip: you need a clear destination, a solid map, and the determination to keep moving forward—even when detours appear. At our office, we have a favorite saying, “Start with the end in mind.” This principle applies to setting your business up for long-term success. Here’s how you can shift from being overwhelmed to making progress that truly matters: #1 Set Clear Goals…  Read more

Over the past several weeks, the buzz about H.R.1—the “One Big Beautiful Bill Act”—has been impossible to ignore. as expected, our office has received emails from clients, all asking that one “quick question”: How will this affect my taxes? Well, here’s a quick answer—or several: UGH!!!!!! This is a proposed tax bill, not a finalized law. It still has to navigate votes in the Senate, return to Congress, and finally,…  Read more

Just the other day I received this email: “Hi Andrea- Hope all is well, quick question. I am taking on some additional contract work 1099, likely 2K/month starting in June. How much additional should I payin to cover tax burden? I assume I will have deductions associated with this additional work from home as well.” It’s a quick question, but never a quick (or easy) answer or process when doing it…  Read more

Tax season tends to bring stress for many individuals and small business owners. The looming deadlines, piles of documents, and fear of making a mistake can often feel overwhelming. Tax season is like a bear emerging from hibernation—a little grumpy and a lot hungry for your time and attention. But it doesn’t have to be that way! With a pinch of preparation, a dash of humor, and our team’s expert…  Read more

I love the business advice term “work smarter, not harder”.  As we business owners look to achieve success, we can research and implement marketing techniques to help us reach our short-term and long-term goals… Marketing can feel like a daunting task for small business owners and professional practices. No matter where we are in the evolution of our businesses, navigating the world of marketing can be overwhelming. With the right…  Read more

I’m writing this blog post during the final days of my 2025 “after tax season vacation” at The Cliff Lodge at Snowbird, Utah.  The featured image was from taken from the balconey of my room before another “dump” of spring skiing powder❄❄❄🎿⛷🏂. It’s very beautiful and relaxing here but I know I’ll be shoulder deep in tax extensions and planning once I return home… Snowbird from my Balcony As we…  Read more

Our bags are packed 💼🧳and once again I am heading out to Snowbird Utah✈️🏔️🚠⛷️😎, but I wanted to send out a quick reminder… It’s spring and with spring comes spring cleaning and tax planning season.  Whether you have filed your 2024 tax returns or are on extension for this and possibly prior years here is a list important tax documents and what to do with them: Save a hard copy…  Read more

As Passover, Easter and the other spring holidays approach, many of us are busy preparing meals 🥖🍗, gathering with family and friends 👨‍👩‍👧‍👦, and ensuring everything is just right for the celebrations 🎉. Coincidentally (or for us accountants), the personal tax deadline is right around the corner too 📅, making this a time of preparation for another important event: filing your taxes 📂. While these two activities may seem worlds…  Read more

The Power of Financial Models     Financial models are invaluable tools designed to help you understand and project the financial health of your business. By simulating different scenarios and examining potential outcomes based on various inputs like sales growth, margins, and cash flow, these models provide a comprehensive picture that aids in informed decision-making. Practical steps for leveraging financial models: 1. Planning and forecasting Start by creating a base…  Read more

It’s tax season—do you know what your dependent children 👧🏼👧🏾👦🏼👦🏾 are including when e-filing their personal tax returns? While they’re cute, funny, brilliant, and tech-savvy, they may not fully grasp the consequences of those yes/no boxes they check when submitting their tax returns via free or DIY software. As a parent, you might think, “It’s great that my child wants to be independent and handle their taxes,” but let’s take…  Read more

Here’s a life lesson; a life take-away (way more valuable than a weekly take-away):  It’s Better & Cheaper 💰💲💲to Extend 🫷🏻than Amend ☺️ The myths and truths about income tax extensions: Myth: a tax extension enables you to file AND pay the balance due later.(with no consequences) Truth: While a tax extension gives you more time to file your taxes, it does not extend the deadline for paying any tax due. When you submit your request…  Read more