Weekly Update–April 12th 2024: Tax Season 2024✏️- Last Minute Suggestions ⏱️📃

This is the last time (for a while) that I will refer to tax season 2024 in my weekly blog.  We all know that tax season never really ends until the IRS and most states shut down their e-file portals in October, but we can dream.  Every year we say “this has been the worst tax season ever”, and it has been yet again.  Friends and family roll their eyes…  Read more

Weekly Update–April 5th 2024-Tax Season Deadline Countdown⏱️Remember IT’s Better to Extend Than Amend 📝✏️💰💰💰

What a difference a day or an hour can make, especially here at the beach. This morning I “slept in”, yes at 7 AM I missed that classic shot of the sun rising out of the ocean on the horizon, but with no wind, no rain, it really did feel like a spring day…. 7 AM this Morning The votes are in; Saturday Morning Sunrise – Favorite of the 4…  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–February 23rd, 2024–Snow Storms⛄❄️❄️❄️Sunrises🌅 & Farm Animals 🐄🐐🫏 for a Winter Diversion

Getting caught up on a week that got away? Here’s your weekly digest of some stories relevant to business and the economy. Snow storms during tax season when so many of us work remotely are a beautiful distraction , no effect on work schedules, and fewer cars on the roads.  Even so, I was glad to see that the crews were out continuously cleaning and salting the roads. We do…  Read more

Weekly Update–February 16th, 2024-THE CLOCK IS TICKING- IRS ERC-VD DON’T MISS OUT 💖🍫❄️❄️❄️⛄🌅

Mid-February and tax season is in full swing, but that doesn’t mean we accounting professionals can’t have fun.  This week we celebrated Valentines Day, “played hooky” during a morning snow storm and are looking forward to a three day weekend as we celebrate President’s Day on Monday February 19th by closing the office.  We can always share some beautiful local photo’s and in a few months we will visit in…  Read more

Weekly Update–January 26th 2024 ❄️☃️🛑👓👂🏿✏️🔂Digital Assets Reporting Requirements 🪙

I have been enjoying my mornings lately, starting with a long walk on the beach with my husband; nice to share the beautiful scenery even in this bitter cold weather, but… he caught the cold/flu that has been going around and was grounded. I went out on my own Saturday morning, it was beautiful, but the frozen snow made it really slippery.  Can I blame him for my slip and…  Read more

Weekly Update: December 15th, 2023 Happy Hannukah 🕎,Count Down to Christmas Begins 🎄- Be Prepared for the IRS to Come Knocking 🚪

Hanukah, also known as the festival of lights, how nice to have a holiday that lasts over a week with so many ways to celebrate, food, friends, games, presents and candle lighting.  We were happy to be invited to our good friends’ home for Friday night, the second night of Hanukah and the commute (just across the street made it a no brainer).  With eight days and nights, this week’s…  Read more

Weekly Update: December 8th, 2023, Happy Hannukah 🕎-Update on BOI Reporting Requirements AND Time is Running Out ⏱️on 2023 Tax Minimization Planning

Hanukkah, “The Festival of Lights”; the holiday that commemorates the rededication of the Jewish temple in Jerusalem in the 2nd century BCE started last night: Thursday December 7th.  We know it as the time for Hanukkah traditions like:  lighting the menorah 🕎(adding one candle each night), giving and receiving gifts 🎁including chocolate gelt (chocolate coins) 🪙, playing spinning the dreidel (colorful top) and those delicious latkes (potato pancakes)  and apple sauce. Happy…  Read more

Weekly Update: December 1st, 2023, Winter’s Here ❄️🕎🎄🥂- Consider Bunching Medical Expenses

December 1st, how did this happen, I feel like it was just summer a week or two ago and I was working in my garden.  I guess the holiday decorations 🕎🎄that have sprung up this past week are a sure sign that it’s holiday time, even if we here in NYC are experiencing “warm” 37–48-degree weather. It’s winter somewhere, certainly in Michigan where we spent last week.  It is certainly…  Read more

Weekly Update–November 24th, 2023: Happy Thanksgiving 🦃, Happy Holiday

Black Friday, for me is a day to sleep in, post my weekly blog/newsletter and spend the day with family.  We arrived in Michigan late Wednesday evening and have been enjoying this family time.  Take a look at my weekly take away and you will see this week what is most important to me, as I keep this very short and sweet… Detroit Delta Lounge Meet-Up for Next Flight ✈️…  Read more

Weekly Update–November 17th, 2023; Counting Down the Days Until Thanksgiving 🦃

Once again I am happy to be writing this blog as I attend the 21st annual tax practitioner’s symposium ATS 2023 formerly LITPS.   We were live again this year at the Crest Hollow Country Club where I connected with my professional friends, served as a host and participated on a tax panel “The Tax Man Cometh”with Scott Ahroni, esq and several of his partners and associates.  I am keeping this week’s post short and sweet as…  Read more

Weekly Update–November 3rd, 2023: Tax Minimization & Retirement Planning

It’s official, LIPA has accepted our application and paperwork, we are now banking our exported KWH.  That means that not only can we “withdraw” KWH when our panels are not producing, we can now report our solar panel project on our 2023 personal income tax return and receive tax credits from the IRS and NYS.  As NYC residents we also qualify for a real estate tax reduction over 4 years. …  Read more

Weekly Update: October 27th 2023 – Tax Planning With Projected 2024 Tax Brackets

I live and work down the block from the beach so it’s easy for me to become a “tax season hermit” although I get to see some beautiful sunrises I usually wake up in mid-October to the realization that it’s fall and foilage season has begun 🍂 🍁.  Here is the link to the  I💗NY Map to foilage in NYS; thanks to freiends in other places I am able to share…  Read more

Weekly Update: October 20th 2023 Consider Tax Planning for 2024 “No More Missed Opportunities”

Tax season 2023 officially ended on Monday the 16th, so we will be able to relax a little before working through some of those returns that did not make the deadline cut off.  I did take a break over last weekend to take a walk on the beach… Amazing Sunrise on Rockaway Beach this Weekend Reports are in, the stiped bass are running.   This fish is not camera shy, even…  Read more

Weekly Update – October 13th 2023 – Earn Interest on Your Tax Refunds With Series I US Savings Bonds

Any tax deadline time is stressful and demanding for accounting firms and staff, but as we approach our final deadline for the 2023 tax season the stress of completing returns and receiving e-file and other documents can really take a toll.  I am glad to be able to live and work so close to Rockaway Beach, Queens and to be able to take a break or short walk on the…  Read more

Weekly Update–October 6th 2023 – Timing & Reporting College Savings Plan Distributions

After so many days of rain it was wonderful to join with friends in their sukkah last Friday evening for shabbat dinner which coincided with the first night of Sukkot 2023.  It is also pretty cool to be able join in  daily ritual of shaking the lulav and etrog.  The first 2 and last 2 days of the holiday are the most strict, so I waited until yesterday for photos. It was really nice to understand the meaning…  Read more

Weekly Update – September 22nd 2023 – ERC Processing on Hold

Some weeks or days are harder than others, I am so glad to have close friends I can rely on and of course the beach down my block for a quick walk at sunrise… Sunrise Yesterday Morning From Our New Beach 131st Street Rock Jetty A big thank you to all of you who wished me a happy birthday (especially someone who asked what year and thought it was my…  Read more

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