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

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

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

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

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

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