Weekly Update–February 23rd, 2024–Snow Storms⛄❄️❄️❄️Sunrises🌅 & Farm Animals 🐄🐐🫏 for a Winter Diversion

Getting caught up on a week that got away? Here’s your weekly digest of some stories relevant to business and the economy. Snow storms during tax season when so many of us work remotely are a beautiful distraction , no effect on work schedules, and fewer cars on the roads.  Even so, I was glad to see that the crews were out continuously cleaning and salting the roads. We do…  Read more

Weekly Update–February 16th, 2024-THE CLOCK IS TICKING- IRS ERC-VD DON’T MISS OUT 💖🍫❄️❄️❄️⛄🌅

Mid-February and tax season is in full swing, but that doesn’t mean we accounting professionals can’t have fun.  This week we celebrated Valentines Day, “played hooky” during a morning snow storm and are looking forward to a three day weekend as we celebrate President’s Day on Monday February 19th by closing the office.  We can always share some beautiful local photo’s and in a few months we will visit in…  Read more

Weekly Update–February 9th, 2024 – Tip for Protecting Your Issued Check from Mail Theft & Washing 🌅🚶🏻‍♀️🗽🍑🍊🖊️📩

It’s been crazy busy here as we head into the heat of tax season, and, if I have learned anything from prior tax seasons it’s “Take Care of You First” and it will all work out in the end, or if not, starting the day right should set the stage for your mood and your interactions. This week I made a new friend as I started my day with a…  Read more

Weekly Update–February 2nd, 2024 Groundhog Day 🌧️⛅☁️🌨️

All the talk of Groundhog Day reminded me about the 1993 movie starring Bill Murray, probably a good choice for streaming tonight with a bowl of popcorn.  As I googled the Old Farmer’s Almanac also popped up on my feeds with comments about how people swear by it.  For me I am happy to check the daily and weekly weather forecast and the Rockaway Beach tide charts on my cell phone.  At least…  Read more

Weekly Update–January 26th 2024 ❄️☃️🛑👓👂🏿✏️🔂Digital Assets Reporting Requirements 🪙

I have been enjoying my mornings lately, starting with a long walk on the beach with my husband; nice to share the beautiful scenery even in this bitter cold weather, but… he caught the cold/flu that has been going around and was grounded. I went out on my own Saturday morning, it was beautiful, but the frozen snow made it really slippery.  Can I blame him for my slip and…  Read more

Weekly Update-January 19th 2024 ❄️⛈️☀️☃️-What to Expect from The Tax Relief for American Families and Workers Act of 2024

What a week of crazy weather and it just started snowing again this morning. I was happy to take advantage of the extra time off on Monday as we celebrated the life and ideas Martin Luther King jr.  A week of cold weather, soup and taxes as we head into our busy time of year.  Last week I mentioned a planned trip to meet a friend for dim sum, it…  Read more

Weekly Update – January 12, 2024 ⛈️❄️☀️Tax Season 2024 Begins!!!!

We are now through the second week of 2024 and some of us have not made it back into the office after the holidays due to the flu, a cold that has been making the rounds or some stormy weather.  I have been “OD”ing on cups of hot tea with honey, lemon and ginger and my homemade chicken soup to help fight this nagging cold.  It seems to be working…  Read more

Weekly Update – January 5th, 2024-Welcome 2024 – the BOI Reporting Clock is Ticking ⏱️

A BIG Good Morning 🌅 and welcome to 2024🥂🍾🥳🎇, I am happy to repeat the sentiment we have been hearing and repeating over the last few days “Best Wishes For A Happy Healthy New Year for You and Your Friends and Family”; I for one will continue to wish everyone a good day.   This week when speaking with my daughter we talked about the holiday meals and visits we had…  Read more

Weekly Update December 29th, 2023🕛10-9-8-7-6-5-4-3-2-1 HAPPY NEW YEAR 🎆🎊🥳🥂IRS EV Tax Credit Update News & Final Days for Some 2023 Tax Minimization Planning

I look forward to holiday season as a time when we come together as friends and family to celebrate our accomplishments, enjoy each other’s company and favorite dishes, create new memories, recount anecdotes from past holidays and watch a series of favorite classic movies.  I hope everyone enjoyed the 2023 Hanukkah🕎and Christmas 🎄holidays as much as I did.  Some of us had some stormy weather⛈️ and others had a white…  Read more

Weekly Update: December 22nd, 2023 Countdown to Christmas Continues🎄- IRS Voluntary Disclosure for Those Who Have Been Naughty 🎁

Holiday season is here and going strong with homes lit up inside and out, community sponsored decorations and oh so many “feel good” holiday movies 🎥 and series to watch on our favorite streaming platform.  So many times we say life imitates art and art imitates life, so I thought I would share a holiday happy ending story that began last November… After wadding/scanning through the selection of holiday movies…  Read more

Weekly Update: December 15th, 2023 Happy Hannukah 🕎,Count Down to Christmas Begins 🎄- Be Prepared for the IRS to Come Knocking 🚪

Hanukah, also known as the festival of lights, how nice to have a holiday that lasts over a week with so many ways to celebrate, food, friends, games, presents and candle lighting.  We were happy to be invited to our good friends’ home for Friday night, the second night of Hanukah and the commute (just across the street made it a no brainer).  With eight days and nights, this week’s…  Read more

Weekly Update: December 8th, 2023, Happy Hannukah 🕎-Update on BOI Reporting Requirements AND Time is Running Out ⏱️on 2023 Tax Minimization Planning

Hanukkah, “The Festival of Lights”; the holiday that commemorates the rededication of the Jewish temple in Jerusalem in the 2nd century BCE started last night: Thursday December 7th.  We know it as the time for Hanukkah traditions like:  lighting the menorah 🕎(adding one candle each night), giving and receiving gifts 🎁including chocolate gelt (chocolate coins) 🪙, playing spinning the dreidel (colorful top) and those delicious latkes (potato pancakes)  and apple sauce. Happy…  Read more

Weekly Update: December 1st, 2023, Winter’s Here ❄️🕎🎄🥂- Consider Bunching Medical Expenses

December 1st, how did this happen, I feel like it was just summer a week or two ago and I was working in my garden.  I guess the holiday decorations 🕎🎄that have sprung up this past week are a sure sign that it’s holiday time, even if we here in NYC are experiencing “warm” 37–48-degree weather. It’s winter somewhere, certainly in Michigan where we spent last week.  It is certainly…  Read more

Weekly Update–November 24th, 2023: Happy Thanksgiving 🦃, Happy Holiday

Black Friday, for me is a day to sleep in, post my weekly blog/newsletter and spend the day with family.  We arrived in Michigan late Wednesday evening and have been enjoying this family time.  Take a look at my weekly take away and you will see this week what is most important to me, as I keep this very short and sweet… Detroit Delta Lounge Meet-Up for Next Flight ✈️…  Read more

Weekly Update–November 17th, 2023; Counting Down the Days Until Thanksgiving 🦃

Once again I am happy to be writing this blog as I attend the 21st annual tax practitioner’s symposium ATS 2023 formerly LITPS.   We were live again this year at the Crest Hollow Country Club where I connected with my professional friends, served as a host and participated on a tax panel “The Tax Man Cometh”with Scott Ahroni, esq and several of his partners and associates.  I am keeping this week’s post short and sweet as…  Read more

Weekly Update–November 10th, 2023: Are You Liable for BOI Reporting…

Sending best wishes and our thanks to our veterans and their families this Veteran’s day 2023.  We salute you and appreciate your courage and service to our country. Thank You Veterans I am loving the beautiful photos that I have been receiving and am happy to share.  This is an actual photo from my friend Renee’s back porch (she is a show off)… Fall Sunrise Weaverville, North Carolina Added benefit when…  Read more

Weekly Update–November 3rd, 2023: Tax Minimization & Retirement Planning

It’s official, LIPA has accepted our application and paperwork, we are now banking our exported KWH.  That means that not only can we “withdraw” KWH when our panels are not producing, we can now report our solar panel project on our 2023 personal income tax return and receive tax credits from the IRS and NYS.  As NYC residents we also qualify for a real estate tax reduction over 4 years. …  Read more

Weekly Update: October 27th 2023 – Tax Planning With Projected 2024 Tax Brackets

I live and work down the block from the beach so it’s easy for me to become a “tax season hermit” although I get to see some beautiful sunrises I usually wake up in mid-October to the realization that it’s fall and foilage season has begun 🍂 🍁.  Here is the link to the  I💗NY Map to foilage in NYS; thanks to freiends in other places I am able to share…  Read more

Weekly Update: October 20th 2023 Consider Tax Planning for 2024 “No More Missed Opportunities”

Tax season 2023 officially ended on Monday the 16th, so we will be able to relax a little before working through some of those returns that did not make the deadline cut off.  I did take a break over last weekend to take a walk on the beach… Amazing Sunrise on Rockaway Beach this Weekend Reports are in, the stiped bass are running.   This fish is not camera shy, even…  Read more

IRS Relief From 10/16/2023 Filing Deadline: IR-2023-188, Oct. 13, 2023

Good morning, you are in our thoughts Hoping your family, friends and loved ones are safe and doing well, but I wanted you to know about this: The IRS just granted a major extension for returns due 10/16 and other filings. It primarily affects those actually in Israel. In some cases US preparers with clients in Israel may qualify for relief for those clients. The NYS Society of CPA’s wrote…  Read more

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