Weekly Update–December 27th 2024: Happy Holidays 🎅🏻🤶🏻🎄🕎 & the BOI Gift of Uncertainty🎁

How great to have an overlap of Christmas and Hanukah this week. It seems like almost everyone is celebrating with friends and family.  Decorating their homes, lighting the menorah and Christmas tree and cooking up a storm. I love seeing and sharing holiday photos along with my usual sunrises on the beach(working from West Coast to the East and South to North-I think I got it right)… Christmas in Southern…  Read more

Weekly Update–December 20th 2024: Holiday Giving/Charitable Giving 🎁📦👗👖🧥🍞💲💲& the Gift of BOI

It’s been another jam-packed week as we head for the new year. Our office is continuing to work on tax minimization plans, help determine bonus payments, and calculate estimated tax payments as we navigate the ever-changing Beneficial Ownership Information (BOI) landscape.  Although I love walking on the beach in the morning I was really glad it was raining Monday enabling me to sleep in.  I am happy to share some…  Read more

Weekly Update-Lucky Friday December 13th 2024 🍀Utilizing Banked Solar Power☀️🌦️

The countdown to the end of the year is a “mixed bag” as usual: holiday parties and planned get-togethers with friends and family, hoping for/dreading a snow day ❄️ ❄️ ❄️, picking out gifts 🎁 while contemplating our own wish list📃, looking forward to vacation time while scrambling to complete necessary projects.  We had a busy “mixed bag” week here as usual as we worked on tax minimization plans, calculated…  Read more

Weekly Update–December 6th 2024-Happy Holiday 🦃 & BOI News After TX Court Preliminary Injunction

I love the holidays, it’s great to visit friends and family and then arrive home with a day or 2 to settle in before jumping back into work.  This year we pushed visiting time to the max giving us little time to settle in, but we wanted to squeeze every possible second in during our visits.  Although we missed seeing and visiting with Jessie’s good friends who are her California…  Read more

Weekly Update–November 1st 2024 – Some Un-Spookey News 🎣🐋🎃👻 AND Looking Forward to an Extra Hour of Sleep 😴💤

In last week’s blog I mentioned we were updating our website using the “slash and burn” method as we like to refer to edits or  our “less is more” approach to simplification… the review and edits have begun.  You can still find this week’s blog at the bottom of our home page; prior blogs are now in the “Latest News” Tab (we have eliminated the newsletters, Covid-19 sections and trimmed down our videos to…  Read more

Weekly Update–October 25th 2024-Tax Planning with 2025 IRS Annual Inflation Rates & Tax Changes

How lucky we were to have such beautiful 60-degree weather this week; I continued to be able to take barefoot walks on the beach each morning…until this morning when the temperature here “plummeted” to 48 degrees (probably what is to be expected for a late October morning).  It was still so nice to be able to get out with layers of fleece, a down vest, hat and SNEAKERS!  This week…  Read more

Weekly Update–October 18th 2024-TGIF 😃🙌🏽 Focusing on Tax Minimization/Tax Reduction Plans 💰💲🪙 & More Details on Disaster Relief ⛈️🌈

TGIF and TGTSO – thank God it’s Friday and thank God tax season 2024 is over.  I stayed in the office late Tuesday evening to submit extended 2023 individual tax returns and C Corporation tax returns and then literally crashed.  Of course, as a habitual early riser I woke at 5:30 and headed down to the beach for a walk and to catch the sun rising. Saturday Sun Rising Tuesday…  Read more

Weekly Update–September 20th 2024-Good News: Tax Minimization May Still Be Possible for Some Extended Tax Returns 🌈😊

With summer coming to an end and fall closing in the sun is rising later each day (sunrise was 6:42 today), I can take my time starting off on my morning walks.  This morning at 6:25, I was admiring the cloud formations and sky as I walked to the top of the berm at the beach. The sky looked ominous but beautiful while the water was smooth, just right for…  Read more

WeeklyUpdate–Lucky Friday September 13th 2024 ☀️🍀🌈💛

Let’s call it Lucky Friday the 13th as we accounting professionals get an extra day to meet our major deadline this Monday and it’s a beautiful day out as well!  Monday September 16th is one of our hardest deadlines to meet as extended S-Corporations and Partnerships are due along with business and individual estimated tax payments for 2024 tax returns.  I am so grateful to be able to walk on the…  Read more

Weekly Update–August 23rd, 2024-Just Counting Down the Days Until…👨🏼‍🌾🍅🔵🎾🎭🚶🏽‍♂️⛱️🩴🎇

This was a cool week for me, starting with Saturday evening catching up with some high school friends and my cousin at our Far Rockaway HS reunion, followed by an afternoon of harvesting a bumper crop of purple figs, beefsteak and San Marzano tomatoes at my friend’s house on Sunday (after picking greens in my garden that morning).  During the week I hosted/attended 2 really great accounting webinars, then checked…  Read more

Weekly Update–July 5th 2024-Celebrating Our Independence 🎇 While Considering Tax Minimization Strategies

Happy Birthday USA!  I was so glad to celebrate July 4th in my traditional manner once again; with friends who are family, enjoying the evening in Queens.  Depending on where you were last night you were caught in a rain shower ⛈️ or caught a shower of fireworks 🎇 in the night sky. We had a lovely evening with friends who have a vacation home in a building right on…  Read more

Weekly Update–May 31st 2024-Employee Benefits & IRS Penalty Relief Benefits

It’s officially bar-b-q season; time to get together with family and friends. My husband and I started a new routine this season, we invite friends over mid-afternoon so they can miss beach traffic and we can start our visit with a walk on the beach. Most importantly our bar-b-q starts with dessert, and when we return home from the beach we pick our salad greens, then relax over appetizers. We…  Read more

Weekly Update–March 29th 2024-The Unintended Consequences of Independent Dependent Childern🚸👧🏻👧🏽👦🏻👦🏽

It’s tax season and as we accounting professional head into our even crunchier time where we are balancing our time between finalizing those returns which can be completed and those which are being extended, we are spending even more hours sitting at our desks.  I am also spending time balancing on my ” classic balance ball office chair” which I rotate onto from 2 other chairs throughout the day to literally…  Read more

Weekly Update-March 22nd 2024-It’s Spring 🍃🍀🐕‍🦺 & Time to Organize Your Tax Paperwork ✏️📝😔

We survived the first major tax deadline day of tax season 2024 and were able to celebrate a bit last weekend even with the rain on St. Patrick’s Day.  It’s amazing what some dogs will put up with for a bisket or photo opp.  At least they were able to stay inside and pose for “St Patrick’s Day Dog’s on Parade”… Winston Such a Good Sport Mitchie, Service Dog in…  Read more

Weekly Update–March 15th, 2024: A Perfect Tax Deadline Storm Day ⛈️ or Opportunity to Plan ☔🌈🍀

Today is a major deadline day, it’s like a perfect storm for me with a sunny afternoon and mild temperature expected later.  I really wanted to stay out on the beach and continue my walk even though it was overcast at 7AM.  Not gonna happen as today is March 15th, the perfect tax season deadline storm of beautiful weather and several major business, fiduciary/trust and partnership tax return, election, estimated…  Read more

Weekly Update–March 8th, 2024: Not Luck🍀 Just Good Tax Minimization Planning as we Enjoy St Partick’s Day Observed Several Times Over🍀

It’s Friday morning and I am just back from the beach, where at last the sun was actually visible! It’s positive thoughts that help me through these long days of tax season and starting my day at the beach certainly helps set the pace for the day… Friday Morning & Here’s the Sun at Last In Rockaway we celebrate St. Patrick’s Day early, this year it was Saturday March 1st,…  Read more

Weekly Update-March 1st 2024: Can I Deduct My Pet on My Tax Return; He Accompanies Me to the Office 🐶🐕🐕‍🦺🐩

Welcome to March and the count down to spring, hard to believe when we were building snowmen ⛄ just last week.  We at A. Parness Company CPA are deep into tax season 2024, with several tax deadlines happening March 15, which when necessary, may be extended until September.  During our exit appointments we get many similar questions, today I am focusing on “working dogs”.  I am picturing farm dogs herding…  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

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