COVID-19 Weekly Update – October 14th 2020

Prior to COVID-19, models of what could happen during a pandemic overstated the possible global death toll, but understated the potential hit to GDP. But as a series in The Economist explains, our current pandemic may have lasting impact. The impacts of shutting down schools for months at a time may persist for decades. Governments around the world are issuing debt at levels never before seen to finance support for…  Read more

COVID-19 Weekly Update – October 7th 2020

Fall is here, and with it, the beautiful colors of the season. Hikes and drives to see the colors are still something we can do, despite COVID-19, as this guide in the New York Times reminds us, with pictures and suggestions across the country. The Berkshires in Massachusetts, Ohio’s Cuyahoga Valley National Park, West Virginia’s Spruce Knob, Maine’s Grafton Notch, Percy Warner Park and Radnor Lake near Nashville, and Guanella…  Read more

COVID-19 Weekly Update – September 30th 2020

With our normal routines turned upside down, people have found as many ways to cope with the pandemic as there are neighborhoods. I love the section of the New York Times showing a series of postcard vignettes of neighbors coming together to connect and help each other, check it out. In Los Angeles, a family picks citrus fruit from trees in their neighborhood, sharing the bounty with the owners of the trees…  Read more

COVID-19 Weekly Update – July 15th 2020

It’s the morning of July 15, 2020 and as I post this the clock is ticking on the last day of “Tax Season 2020”.  With the  countdown to the end of Tax Season 2020 on the opportunity will pass for a few time sensitive actions on your part: Today is the last day you can timely pay your 2019 tax liability with either your tax return or extension and the…  Read more

COVID-19 Weekly Update – June 17 2020

Resources to Help You Survive – and Thrive – During the COVID-19 Pandemic When the COVID-19 pandemic was just beginning to spread, many of us were hopeful that by mid-summer, things would return to normal. However, most people are realizing that the coronavirus will be with us for some time to come. That’s one of the conclusions from a series of short articles at the New York Times aptly titled…  Read more

COVID-19 Weekly Update – June 10 2020

Weekly Digest – 10 June 2020 Resources to Help You Survive – and Thrive – During the COVID-19 Pandemic As painful as the shutdown has been, a recent study indicates that it may have prevented as many as 60 million COVID-19 infections in the U.S. and 285 million in China. Banning large gatherings had the most impact in France and South Korea, while evidence is mixed on the impact of school closures.…  Read more

The Morning Briefing, So Where’s My Money…

I am so glad to share this photo from another beautiful morning run on the beach today, I hope you are all doing something for YOU each day, it really does help.     The reports are coming in about the stimulus checks.  It seems that only those eligible individuals who had an over-payment direct deposited into their (current) bank account when they filed their 2018 or 2019 tax returns…  Read more

Your Morning Briefing, It’s Tax Day, or is it? Updates on Loans, Grants & Stimulus Funding…

It was overcast this morning on the beach, but I was glad to get out to clear my head on #TaxDay?  Yes it’s April 15th but the only extensions we are filing are for our self-employed clients who operate in NYC (there was only a minimal extension of time to file the Unincorporated Income Tax Returns (UBT). EIDL And PPP Applications and Funding I am hearing from others in the…  Read more

The C.A.R.E.S. Act overview and other useful resources…

Over the course of a few weeks nearly everyone’s business and life has been turned upside down. It’s been a crazy time with businesses forced to close, an overload of information (and mis-information on social media) and people risking their lives to save others. With the recent disruption in mind, we have been working to help support you however we can. We’ve seen a number of our clients already impacted…  Read more

How to Make Your Child Care Costs More Tax Friendly

There are special deductions and credits which help working parents defray some of the bite from child care costs. Follow the specific rules and receive tax benefits for qualified child care while you are at work and breathe easy knowing your child is in a safe secure environment.  Interested in finding out more about this and other employment related benefits and how they can reduce your taxes, contact us,…  Read more

com·mu·ni·cate  verb

I offered my top tip for accountants and their clients for an article which was published last week, then I googled communicate and this is what I found: com·mu·ni·cate verb 1. share or exchange information, news, or ideas. Similar:   liaise, be in touch, be in contact, be in communication Use it in a sentence  “We as effective tax advisers communicate with our clients so we can understand what their needs are…  Read more

What is Your #1 Piece of Advice to Clients in 2020?

I was asked to contribute to this online article as posted by Intuit for other tax professionals. My tip: “We find that our business and individual clients are still confused about how the TCJA affects various issues, such as their overall tax liability, entity structure, retirement benefits and deductible expenses. We will continue to encourage strong communication and engagement with our team of professionals. Our clients are comforted when they see that we are there…  Read more

New IRS W-4 Form Could be Confusing…

You may feel overwhelmed by this new form and the calculations involved with setting up sufficient 2020 tax withholding.  We certainly understand as it seems that to do it correctly you need to be a tax professional or have a really good grasp on how your income is earned as well as what deductions and tax credits you are entitled to. Watch this video to see our reaction to the…  Read more

Here’s A Tip to Help You Take Action on Your 2020 Goals…

I recorded this video over the summer (right, I am not standing on the beach in this gear in December!) A Plan with Small Actionable Steps Will Help Create the Goals we Have in Mind for Our Business and Ourselves and what better time to put this tip to use than now… This message is just perfect for this time of year.  We are all hoping to start 2020 with…  Read more

Thanks for Working With Us on Your 2019 Year-End Micro Tax Minimization Plan

It’s been exciting to see how several of our clients were able to save some serious dollars and reduce or eliminate their fourth quarter corporate and individual tax estimates by instituting Year-End Micro Tax Minimization Plans. We will be rolling up our sleeves again in January to start working on full blown plans for the 2020 tax year. Click through to see a blog and video on the process and……  Read more

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