The 2023 Tax Season

{6 minutes to read}  The doors are now open to the 2023 tax season, with the IRS extending a little empathy toward certain losses. Are you an investor and a victim of a possible investment scam such as a Ponzi scheme? The IRS may allow a deduction for that. But before we get into the […]

Our Resolutions — Are They Transcendent or Temporal?

  Greetings, and Welcome to Year 2023!  Our Resolutions — Are They Transcendent or Temporal? {5 minutes to read}  I wonder how you and I would relate to each other daily — if our resolutions were transcendent, and not temporal – can you imagine that?  (Please pardon the lengthiness of this article. I’m just asking […]

The Seven-Year Essentials — Which Ones Apply to You?

Have you done your Annual Check-ups? Before the year ends, check out these Seven Essentials  — which ones apply to you and yours? Last month the curtain came down on the 2021 Tax Year filing. At times it’s in retrospect that we sometimes gain a clearer perspective on how best to incorporate life’s lessons into […]

More Government Monetary Relief — for Individuals and Companies

{6 minutes to read} The act of forgiveness is becoming more popular within certain branches of government. One of the most recent acts of forgiveness was extended by the Biden–Harris Administration, however, forgiveness may not be extended to all. In this article, you will find information related to the following: Penalty abatement for individuals and […]

The Lost Years — Part 2: Business

{14 minutes to read}  This is the second of two newsletters, with a look-back on the “Lost Years.” The first newsletter was individual-focused, and in that article, I discussed topics such as primary home sales, retirement withdrawals, pandemic residency audits, and the necessity of a written will, among others — in case you missed it, […]

On This Independence Day, Do We Still Take Pride in the Red, White & Blue?

Greetings to You — Independence Day! Today, Americans across the nation celebrate another year of “freedom” from the Great Britain. With pride, last night I looked onto the red, white and blue city skyline while strolling the river in Brooklyn, yet as my thoughts deepened, I wonder if there was still some pride left in […]

What Have You Gained in the “Lost Years?”

This is the first of two articles – this first one is more individual-focused; the next will be focused on entrepreneurs (including sole practitioners/independent contractors) and small-business. In that article, I will discuss Pass-Through Entity Tax (PTET) and ways to manage the generous but short-lived Qualified Business Income Deductions (QBID). But first, let’s look back […]

Looking at Some Business Activities Before the Year Ends

{6 minutes to read}  You may agree with me that there have been multiple moving parts with businesses in 2021 — grants, loans, credits, more deductions, and the list goes on. Coupled with the virus — doing its own thing — we still have a business to operate, even though it may not be business […]

2021 Year-End Tax Planning

{6 minutes to read}  Let’s look – strategically and intentionally. As we look back, consider the wise words from two individuals who share the same first name: Warren W. Wiersbe, an American clergyman/biblical teacher wrote, “you do not move ahead by constantly looking in a rear-view mirror. The past is a rudder to guide you, […]

There is Still Money on the Table — Take Steps to Reduce Your 2021 Tax Bill

Greetings, {6 minutes to read} I hope you are taking some time to enjoy the summer days — with care, Outdoor spaces are priceless.   First, if you received a PPP loan in 2020 and have not yet submitted your PPP loan forgiveness application, what are you waiting for? The process has been simplified for loans […]