Tag: NYC CPA


Stretch your college student’s spending money with the dependent tax credit

If you’re the parent of a child who is age 17 to 23, and you pay all (or most) of his or her expenses, you may be surprised to learn you’re not eligible for the child tax credit. But there’s … Read More »

March 19th

Tax Planning, Uncategorized. Comments Off on Stretch your college student’s spending money with the dependent tax credit


Companion piece: Create a “road map” for your estate plan

No matter how much effort you’ve invested in designing your estate plan, your will, trusts and other official documents may not be enough. Consider creating a “road map” — an informal letter or other document that guides your family in … Read More »

March 15th

Estate Planning Briefs. Comments Off on Companion piece: Create a “road map” for your estate plan


5 ways to give your sales staff the support they really need

“I could sell water to a whale.”

Indeed, most salespeople possess an abundance of confidence. One could say it’s a prerequisite for the job. Because of their remarkable self-assurance, sales staffers might appear to be largely autonomous. Hand them something to … Read More »

March 13th

Business Briefs. Comments Off on 5 ways to give your sales staff the support they really need


The 2018 gift tax return deadline is almost here

Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine whether you’re required to file a 2018 gift tax return — or whether filing one would be beneficial even if … Read More »

March 12th

Tax Department, Tax Planning. Comments Off on The 2018 gift tax return deadline is almost here


Moving a trust over state lines can offer tax savings and other benefits

People who live in states with high income taxes sometimes relocate to a state with a more favorable tax climate. A similar strategy can be available for trusts. If a trust is subject to high state income taxes, you may … Read More »

March 7th

Estate Planning Briefs. Comments Off on Moving a trust over state lines can offer tax savings and other benefits


Vehicle-expense deduction ins and outs for individual taxpayers

It’s not just businesses that can deduct vehicle-related expenses. Individuals also can deduct them in certain circumstances. Unfortunately, the Tax Cuts and Jobs Act (TCJA) might reduce your deduction compared to what you claimed on your 2017 return.

For 2017, miles … Read More »

March 6th

Tax Department, Tax Planning. Comments Off on Vehicle-expense deduction ins and outs for individual taxpayers


Are your employees ignoring their 401(k)s?

For many businesses, offering employees a 401(k) plan is no longer an option — it’s a competitive necessity. But employees often grow so accustomed to having a 401(k) that they don’t pay much attention to it.

It’s in your best interest … Read More »

February 27th

Business Briefs. Comments Off on Are your employees ignoring their 401(k)s?


Beware the Ides of March — if you own a pass-through entity

Shakespeare’s words don’t apply just to Julius Caesar; they also apply to calendar-year partnerships, S corporations and limited liability companies (LLCs) treated as partnerships or S corporations for tax purposes. Why? The Ides of March, more commonly known as March … Read More »

February 27th

Tax Department, Tax Planning. Comments Off on Beware the Ides of March — if you own a pass-through entity


Have you properly substantiated your 2018 charitable gifts?

Donating to charity is a key estate planning strategy for many people. It reduces the size of your taxable estate and it can help you leave a lasting legacy with organizations you care about.

The benefit of making such gifts during … Read More »

February 25th

Estate Planning Briefs. Comments Off on Have you properly substantiated your 2018 charitable gifts?


Don’t let scope creep ruin your next IT project

Today’s business technology is both powerful and restive. No matter how “feature rich” a software solution or hardware asset may be, there’s always another upgrade around the corner. In other words, it’s just a matter of time before your company’s … Read More »

February 20th

Business Briefs. Comments Off on Don’t let scope creep ruin your next IT project

HOBERMAN & LESSER, LLP