NYS Cut the Cord with the IRS: You May Be Able to Itemize on Your NYS Tax Return

By now most of us are aware that the new tax rules will impact our Federal tax returns; a large portion of expenses have been reduced OR disallowed under the new tax law (known as TCJA). Since the law has been enacted, lawmakers of various states with personal income tax obligations have continued to lobby […]

Considering the New Tax Laws, Is Starting a Business the Right Choice for Me?

{6 minutes to read}  During tax season we are often questioned about starting a small business. However, throughout 2018, the two most asked questions we received were: I have been freelancing for some time now; do I incorporate or form an LLC? Since I will lose most or all of my deductions as an employee, […]

Welcome to 2018 Tax Season!

{7:12 minutes to read}  ​It has been said this is the biggest tax overhaul of the last seven decades; most of us may not have experienced the last one. From a high level overview, notwithstanding the fact that certain individual itemized expenses will be increased, combined & capped, or eliminated, lower income individuals will have […]