Blog

New York state has a great program called the Voluntary Disclosure Program, which basically means if you come to New York  and file your unfiled return or declare your back taxes they’ll usually waive all the penalties. You will still have to pay the interest, but you can get the penalties waived. We’re happy to work with […]

I think one of the biggest fears that prevents people from filing their taxes is they either don’t have the money to pay or they’re in a bad financial situation. It’s important that they know that they still have to file a return in order to avoid late filing penalties. Eventually you can always work out a […]

When it comes to taxes, most people think of April 15th as the most crucial date to know. It’s even marked on most standard U.S. calendars as Tax Day! While this is the date that all taxes are due, there’s also another date to remember. For those who have filed an automatic six-month extension for […]

The best business formation for an internet-based business in New York City is an LLC, like most other businesses. This is true because of the way the city taxes work for C-corps and S-corps. Being an LLC will help you lower your city tax and lower your taxes overall. Let our expert New York City […]

One of the things we’re doing almost everyday is helping people convert from an S corp to an LLC in New York City. A lot of times people follow bad advice from a lawyer or their accountants and set up S corps without evaluating the whole New York City environment. We are able to help business owners […]

We are happy to offer that free 30-minute consultation in order to take a look at all your paperwork, information, financial statements. After the initial meeting we’re able to quote a flat fee for the tax return. Whether it’s corporation, partnership or individual that flat fee will not change. We will stick to it even […]

Try to keep everything in a spreadsheet or document. Keep your documents organized. There are smart scanners that scan in receipts and add them to a spreadsheet – or do it by hand. If you organize every month, or every week, for just a few minutes, it will save you a lot of time and […]

On June 24th, 2011, under the Marriage Equality Act, The New York State Legislature passed a bill legalizing same-sex marriages in the State of New York. One month later, on July 24th, 2011, same-sex marriages were officially legal. How does this affect a couple’s tax situation? Can the couple file a Married Filing Jointly tax […]

Many taxpayers often ask: “So how much can I deduct for meals?” If it were only that simple! Unfortunately only BUSINESS or JOB RELATED meals & entertainment can be tax deductible. The meal or entertainment expense must meet several criteria in order to be properly deducted on a tax return. To be able to claim […]

President George W. Bush’s tax cuts were attempts to remove the so-called “marriage penalty” from the Internal Revenue Code. This marriage penalty continues to impact high, middle, and low income couples. The following questions summarize what may affect the marriage penalty or possibly even result in a marriage “bonus.” What is the Marriage Penalty? The […]