Blog

If you’ve heard a radio or television commercial promising to “settle your IRS debt for pennies on the dollar,” you’re not alone…and you may be wondering whether the IRS Fresh Start Program is the answer. Many of my weekly blog topics come directly from questions and conversations I/we have with our clients, and this week’s topic is no exception. It was inspired by several tax resolution cases our office is…  Read more

HAPPY ANNIVERSARY/HAPPY BIRTHDAY to OBBBA … just like last year we acknowledge the significance of YOU, a multi-year/multi-faceted tax bill.  We continue to work through the details to help our clients utilize any benefits they may be eligible for, as well as adjustments they may need to make in lieu of this tax bill. I am happy to say that we have seen many of our clients benefit from several…  Read more

Healthcare businesses operate differently from most other industries when it comes to finances. A quick example: if billing and collection success rates in healthcare were applied to many other industries, most business owners would be shocked. On the surface, the financials may look familiar—revenue, expenses, and reports. But once you dig deeper, the details become much more complex. Payments often arrive weeks or months after services are provided, reimbursement amounts…  Read more

As a New Yorker, I am thrilled for our local champs! 🏀🗽🎉 …and while it would make perfect sense to invite your favorite client to a game for so many reasons—building relationships 🤝, showing appreciation 🙌, networking 💼, and simply enjoying a great evening together—the deduction for those tickets is just not in the cards 🎟️❌…or the IRS code anymore. Unfortunately, entertainment expenses like sporting event tickets are no longer…  Read more

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