Blog

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

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

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

Good morning, you are in our thoughts Hoping your family, friends and loved ones are safe and doing well, but I wanted you to know about this: The IRS just granted a major extension for returns due 10/16 and other filings. It primarily affects those actually in Israel. In some cases US preparers with clients in Israel may qualify for relief for those clients. The NYS Society of CPA’s wrote…  Read more

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

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

Our office is still going crazy as our “final” tax deadline of October 15th approaches.  We have given up on sending out repeated emails for “that last missing piece of information” which can help our clients minimize their tax liability and are just working with the information we have “in house”.  I have checked with other tax professionals who are experiencing the same behavior from some of their clients.  I…  Read more

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

Today is a perfect tax storm day with many 2022 extended tax returns and estimate #3 for 2023  due.  As we brace for this major deadline many of us are also watching the weather reports as Hurricane Lee moves up the atlantic coast; it looks like a perfect storm is heading our way too.  Remember that safety should always be the top priority, so take precautions to protect yourself and your loved…  Read more

This morning I was feeling a bit frustrated as I worked on my weekly take away so I “popped” it into ChatGPT.  I wasn’t asking for advice and didn’t give it any parameters, but it totally picked up on my mood.  “It sounds like you and your team are facing a challenging situation as you approach the tax filing deadline, and I can understand how stressful it must be to…  Read more

It’s labor day weekend and I can imagine that many families are planning a long weekend as the kids will be heading back to school next week.   We often talk about planning, tax planning, vacation planning, retirement planning, etc.  I never reccomend doing something “just for tax purposes” but with proper planning you just might take a partial business deduction for a portion of your trip expenses.  Summer travel  plans can…  Read more

Another crazy week which started out nice with a vist from Elizabeth last Friday as we worked together before she headed upstate Saturday morning for a wedding then returned Sunday evening to spend time in the office with Monica on a special project as well (notice how her trip may qualify partly as a business expense- see my August 4th blog post).   Too bad Myriam, Ramona and Raquel were not…  Read more

Another busy week with some exciting news.  We all yearn to help make a difference in our environment; I have been composting for over 20 years, creating “black gold” for my vegetable garden, flowers and shrubs. Just last night my husband and I started the process to install solar panels on our house.   The US Tax Code is influencing my behavior while enabling me to reduce my carbon footprint.  We…  Read more

We have been busy in our office working on extended tax returns and working on tax minimization plans so although we had a week of rainy weather we did not feel too bad being “stuck” inside. This morning I was glad to see the sun come out and we are expecting a weekend of good weather. Sunrise Today Over Our New Rock Jetty Between Beach 130/131 The berm construction is…  Read more

As our clients plan their summer vacations we get calls about the potential to “write off” some of the costs as a business expense.  Just last week I extended my trip.  When the tax conference I attended in Seattle ended Friday evening, I took advantage of being on the west coast and flew down to San Diego for a visit with my daughter and additional training.   Check out the tax…  Read more

Yes, once again I am admitting:  I am a tax nerd; attending the 15th annual Certified Tax Coach (CTC) conference in Seattle is/was the highlight of my week so far.  I can say this, as this morning starts day 2 of the conference and then tonight I head to San Diego to visit my daughter Jessie, her boyfriend Eric and my granddog Sampson.  It was a day of connecting with…  Read more

It been another crazy busy summer week starting with a Town Hall panel web presentation on IRS/NYS tax collections mitigation.  Even through we had the framework set from prior presentations a lot of time and energy went into preparing for this one and I love participating. I had a great time yet again presenting with Karen Tenenbaum, esq, CPA, Moshe Zupnick, esq, and Marisa Friedrich, esq, of Tenenbaum Law, P.C.. Town…  Read more

We see many news reports, blog posts and webinars discussing AI, Bots, and ChatGPT.  Most highlight the benefits of having AI assist in the repetitive data entry and review, while others point out the concerns staff members have about being replaced by evolving technology.  This week I attended a webinar hosted by my professional group and we were once again reminded that this type of technology is a tool that…  Read more

It’s a beautiful day here in Michigan where we are visitng for an extended weekend.  We have great plans for the next few days so this week’s blog will be short and sweet    We arrived late last night; here is my view as I write today’s blog… Sunrise on the lake this moring I am glad we were finally able to visit and not only spend time with our daughter…  Read more

Some of us may have great bosses who have closed their offices on Monday allowing their staff to enjoy a four day weekend.  No matter what our work plans are I look forward to the weekend and maybe a bar-b-que or 2 and expect/hope many are of you are planning, picnics and outings with family and friends. I hear the weather will be a bit iffy here in NYC with some scattered…  Read more