Tag: NYC accountants


Year-end tax and financial to-do list for individuals

With the dawn of 2019 on the near horizon, here’s a quick list of tax and financial to-dos you should address before 2018 ends:

Check your FSA balance. If you have a Flexible Spending Account (FSA) for health care expenses, you … Read More »

December 12th

Tax Department, Tax Planning. Comments Off on Year-end tax and financial to-do list for individuals


How incomplete nongrantor trusts can help avoid state income taxes

With the federal gift and estate tax exemption at $11.40 million for 2019, people whose estates are below the exemption amount are shifting their focus to income tax reduction. High-income taxpayers — particularly those who live in high-income-tax states — may … Read More »

December 6th

Estate Planning Briefs. Comments Off on How incomplete nongrantor trusts can help avoid state income taxes


Family businesses need succession plans, too

Those who run family-owned businesses often underestimate the need for a succession plan. After all, they say, we’re a family business — there will always be a family member here to keep the company going and no one will stand … Read More »

December 5th

Business Briefs. Comments Off on Family businesses need succession plans, too


2019 Q1 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2019. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to … Read More »

December 4th

Tax Department, Tax Planning. Comments Off on 2019 Q1 tax calendar: Key deadlines for businesses and other employers


Consider an intrafamily loan to cover estate taxes

Sometimes estates that are large enough for estate taxes to be a concern are asset rich but cash poor, without the liquidity needed to pay those taxes. An intrafamily loan is one option. While a life insurance policy can be … Read More »

November 29th

Estate Planning Briefs. Comments Off on Consider an intrafamily loan to cover estate taxes


Devote some time to internal leadership development

Many factors go into the success of a company. You’ve got to offer high-quality products or services, provide outstanding customer service, and manage your inventory or supply chain. But there’s at least one other success factor that many business owners … Read More »

November 28th

Business Briefs. Comments Off on Devote some time to internal leadership development


Does prepaying property taxes make sense anymore?

Prepaying property taxes related to the current year but due the following year has long been one of the most popular and effective year-end tax-planning strategies. But does it still make sense in 2018?

The answer, for some people, is yes … Read More »

November 27th

Tax Department, Tax Planning. Comments Off on Does prepaying property taxes make sense anymore?


Unleash the power of a nonspringing power of attorney

Estate planning typically focuses on what happens to your children and your assets when you die. But it’s equally important to have a plan for making critical financial and medical decisions if you’re unable to make those decisions yourself. A … Read More »

November 26th

Estate Planning Briefs. Comments Off on Unleash the power of a nonspringing power of attorney


Estimates vs. actuals: Was your 2018 budget reasonable?

As the year winds down, business owners can be thankful for the gift of perspective (among other things, we hope). Assuming you created a budget for the calendar year, you should now be able to accurately assess that budget by … Read More »

November 21st

Business Briefs. Comments Off on Estimates vs. actuals: Was your 2018 budget reasonable?


Catch-up retirement plan contributions can be particularly advantageous post-TCJA

Will you be age 50 or older on December 31? Are you still working? Are you already contributing to your 401(k) plan or Savings Incentive Match Plan for Employees (SIMPLE) up to the regular annual limit? Then you may want … Read More »

November 20th

Retirement Planning, Tax Planning. Comments Off on Catch-up retirement plan contributions can be particularly advantageous post-TCJA

HOBERMAN & LESSER, LLP