Blog

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

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

I tell clients this often, usually while we talk over coffee ☕💬 or zoom 💻 “strong businesses don’t grow by accident, they grow because you design and maintain them that way”. I believe that’s true for our small business owners, medical practitioners, law firm owners and our visionary start-up entrepreneurs as well. And design matters even more when markets, laws, and conditions keep moving.  If you’ve been in business long…  Read more

As a Certified Public Accountant (CPA) and Certified Tax Coach (CTC), I get asked this question all the time: “Can I deduct my business travel?” And—no surprise here—the answer is: it depends 😉But let’s break it down in a practical, real-life way. Next week, I’ll be traveling to San Diego, CA for a tax conference that’s integral to my work as a tax advisor and coach. I already have: ✈️ A…  Read more

The answer, of course, is “it depends”—and it’s neither quick nor easy.  As with most tax questions, the real answer depends on your specific facts, your goals, and the tax law itself. And in this case, the law is the One Big Beautiful Bill Act (OBBBA), Public Law 119-21 passed in July 2025. Under the One Big Beautiful Bill Act (OBBBA), Congress introduced a new deduction for qualified overtime compensation. While often referred to as…  Read more

As 2025 draws to a close, we have been working through 2025 tax minimization plans, growth plans, exit strategies, and looking towards 2026 and future years as well.  We get so much satisfaction from helping our clients achieve their goals; current, future, imagined as we work with “strategic partners”.  When they follow this model we see success with small business owners, medical practitioners, law firm owners and our visionary start-up…  Read more

Another great question! 🎯 and of course we say “it depends” and “it’s not quick or easy”  when you do things right, we may find opportunities during our tax planning strategy meetings.  As we head toward the end of 2025, charitable giving deserves a second look 👀 — especially for taxpayers who itemize deductions and consistently support charitable organizations. Here’s the key takeaway upfront:👉 The charitable contribution rules for 2025 remain unchanged.👉 But the…  Read more

Another great question! 🎯 and of course we say “it depends” and “it’s not quick or easy”  when you do things right, we may find opportunities during our tax planning strategy meetings to help you work through your exit strategy in the most tax advantaged way. isn’t just for Silicon Valley startups — Section 1202 Qualified Small Business Stock (QSBS) can also be a high-impact planning tool for small business owners, medical practices…  Read more

It’s December and we are deep into strategic tax planning mode. As I work with small business growth-focused entrepreneurs and medical practitioners  here in New York and  across the country, I see a pattern.  As your business and personal income increase, the shape of your financial life shifts: your taxes shift, your assets shift, and your estate tax exposure shifts. As we work on current tax planning we look at…  Read more

Another great question! 🎯 One I asked myself just a week ago, as I considered my purpose for attending the 23rd ATS Tax and Accounting conference, a three (3) day tax symposium held on Long Island.  Spoiler alert:  I am the current Co-President of the N/S Chapter of NCCPAP Educational Foundation and a member of the ATS executive committee so I don’t really have much choice, but I “got\get” so…  Read more

Great question! While there are no quick answers — and we always say “it depends” and “it’s not quick or easy” — you may find opportunities where a business event can be both fun 🥳 and deductible 🏢. We’ve all heard the phrase “don’t mix business with pleasure,” but why not? Sometimes mixing the two leads to stronger business relationships, new opportunities… and yes, a legitimate business deduction. This week,…  Read more

As a small business owner or medical practice owner, setting up a retirement plan doesn’t just help you and your team save for the future — it can also offer immediate tax savings and tax credits for you and your business…NOW. A retirement plan (such as a SEP, SIMPLE IRA, or 401(k)) can cover both the owner and eligible staff. Eligibility is typically based on: Number of hours worked (e.g.,…  Read more

Great question — and one I have been discussing with my clients and prospective clients more and more lately; spoiler alert: Not necessarily! Many small business owners and medical professionals assume that if they pay for something with their business credit card, or via their business checking account it automatically counts as a business deduction. Unfortunately, the IRS doesn’t see it that way. Let’s clear this up 👇 🚫 Paying…  Read more

Great question — and one I have been discussing with my clients and prospective clients more and more lately. The good news? If you’re asking this, you’re already ahead of the curve. Thinking about growth, succession, and strategy means you’re not just running a medical practice — you’re running a business too. Here are some key considerations as you look toward expansion, transition, and tax-smart planning: 🔹 1. Keep the…  Read more

By now you know your quick questions take a minute to ask and our quick answer is “It depends”.  We already know, in order to get a valuable, actionable answer/plan we need to determine several things, including short-term and long-term goals and expected exit strategy. Starting a new business, or expanding your existing business is exciting 🎉, but one of the first steps—choosing your business structure—is often confusing, and working…  Read more

The answer, of course, is “it depends” — and it’s not quick or easy. Like most things tax and/or business related, the answer is tailored to each client’s circumstances and goals and of course your goals📈🌈💡 and the tax law! 📚⚖️ Running a medical practice is more than just patient care—it’s also about navigating billing, payroll, compliance, staffing, and vendor contracts. For many physicians, these responsibilities can become overwhelming. That’s…  Read more

Our answer to most tax related questions, of course, is “it depends”; like most things tax-related, the answer is tailored to each client’s circumstances and goals.  Since it’s passing  our office has spent countless 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 up tax planning and tax minimization…  Read more