Articles From Our New York Tax Preparer

ARE YOU A BUSINESS OWNER WHO WANTS TO PAY LESS TAX?

Many self-employed, sole proprietorship business clients have come to me over the years and asked the same question: "Would I save more money if I incorporated?" In most situations, the answer is YES.

I've heard ma...

ARE MY EMPLOYEE BUSINESS DEDUCTIONS STILL DEDUCTIBLE?

The Tax Cuts and Jobs Act (TCJA) introduced many new changes to the tax law. One of these changes is that unreimbursed employee (business-related) expenses are no longer deductible as an itemized deduction on your Fe...

HOW CAN I IMPROVE MY DEDUCTION DOCUMENTATION?

Protect Yourself by Supporting Your Deductions! (This is my important message to all clients.) I strongly recommend to my clients that they carefully document and protect their tax deductions, proactively, to prevent possibl...

WHAT ABOUT PRIVACY?

Tax professionals, like all providers of personal financial services, are now required by law to inform their clients of their policies regarding privacy of client information. Our firm has been and continues to be bound by professional standards of...

IS THE HOME OFFICE DEDUCTION A RED FLAG?

I know that some tax preparers claim that the home office deduction is a 'red flag' and can provoke an audit. I do not agree with their opinion. These tax preparers are not sufficiently educated regarding the specific provisions...

SCHEDULE A-ITEMIZED DEDUCTIONS: DOESN'T GET THE RESPECT IT DESERVES

1. Medical Expenses
2. Taxes
3. Interest
4. Charitable Contributions
5. Job Expenses and Miscellaneous Deductions

Taxpayers and tax preparers think that this is basically a simple form. Just pop a few nu...

TIM GEITHNER SECRETARY OF THE TREASURY: I USED TURBOTAX!

Tim Geithner Secretary of Treasury realizes he shouldn't have used TurboTax!

He should have used a CPA tax preparer!

See video below!

ETIQUETTE FOR ACCOUNTANTS' INTELLIGENT CLIENTS

What is Smart and Not Smart? Please Review.

SMART: (Thank you, Smart People with common sense, I appreciate you!)

1. Telephone: Call at a time when you have some peace & quiet, secure land-line phone connection, full size pad...

BUSINESS TAX EFFICIENCY

Businesses advertise to generate more revenue and attract more customers/clients/patients. Then they provide goods and services as efficiently as possible and in a competitive environment. We subtract all expenses from revenues, and arrive at 'Ne...

A QUESTION OF TAX STRUCTURE

The Single Most Important Decision In the Formation and Operation of Your Business.

The Problem

The top-earning 25 percent of the US taxpayers pay 5 out of every 6 tax dollars collected according to the Tax Foundation data, based on information...