Tag: strategic tax planning

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

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

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. Since its passage, our office has spent countless hours ⏰ attending in-depth seminars devoted entirely to 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.  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

When you’re running a practice, long-term goals & even short-term goals are not always top of mind. Between patients, paperwork, payroll, insurance chaos, and family obligations it’s easy to feel like your immediate finances call the shots. 😅 I believe a thriving practice depends on financial stability; just like you tell your patients “Prevention beats cure every time”. Let’s check your business health and make sure no financial symptoms are…  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