We are just over a week from the end of the year. While most are concerned about the upcoming holidays, we are deep into getting ready for the upcoming tax season. There are not many tax changes, but a few that we want to highlight. It is key to have the information you have received […]

It is the middle of November, and we still do not have a passed tax bill to know if there are any changes for 2021 and the potential changes for 2022. I have some recommendations that can be advantageous regardless of what the final tax bills might say – and even if nothing changes, they […]

I know that it is only the end of October and we are talking about Christmas shopping and being concerned about getting those great gifts. I cannot think of the holiday season without immediately thinking of year-end recommendations for your financial wellbeing. Since I am also concerned this year with “everything” seeming to take longer […]

I have been fielding several phone calls and emails regarding tax law changes and how they will impact your situation. Many rumors are circulating, and I thought it was time to set some of that straight.

There is a tremendous amount of conversation occurring about student loans – from those attending college, those who recently graduated, and those who graduated years ago. Let’s see if we can define some of the information surrounding student loans. Part of the confusion centers around the different types of loans. Federal loans come in a […]

Are we headed towards a repeat of 2008? We are watching a blossoming real estate market. Local real estate listings are staying on the market for an average of 17 days. We see several sellers finding themselves in bidding wars and selling their houses for more than market price. Buyers find themselves shut out of […]

It seems like a good time with booming real estate sales to talk about the potential taxation of selling a piece of property. To determine if there is any taxable gain, you must first understand your basis.

There was a recent announcement that in the last 12 months, there were $58 billion added to unclaimed funds. And this is not unusual – generally, over $50 billion gets added to unclaimed funds annually. NYS is currently holding over $18 billion in its state treasury alone.

We are all continually looking for ways to save tax dollars. With the 2018 increase in the standard deduction, many individuals switched from itemizing their deductions to the standard deduction. When you take the standard deduction, you do not get a deduction for property and school taxes, medical expenses, or mortgage and home equity loan […]

Add together a newly elected president, a change in the majority party, attempts to recover from a pandemic, and many other issues, and you get job security as a tax preparer. Several new tax plans were put into place in 2020, we have had one plan put into place to date in 2021, and many […]