Many individual taxpayers assume that tax mistakes only happen when income is complicated or finances are disorganized. In reality, even well-prepared taxpayers in New York make common errors that can lead to delays, added stress, or unexpected costs. Understanding where these mistakes usually occur is the first step toward avoiding them. With proper guidance and […]
Read moreSelecting the right bookkeeping firm is one of the most important decisions a small business or startup can make. Your financial records shape everything—cash flow, budgeting, payroll, compliance, and long-term strategy. For businesses in Forest Hills, choosing a trusted partner ensures accuracy, organization, and peace of mind throughout the year. Whether you’re a new entrepreneur […]
Read moreRunning a business in New York—especially in Forest Hills—means managing fast-moving operations, staying compliant with local tax regulations, and keeping your financial records organized. For startups and small businesses, reliable bookkeeping and payroll services aren’t just helpful—they’re essential. With the right systems in place, business owners can maintain accurate books, avoid costly errors, and confidently […]
Read moreThe holiday season is a time for celebrating with those closest to you, but it’s also prime time for holiday scams. Unfortunately, fraudsters ramp up their efforts at this time of year to exploit holiday cheer for financial gain, so it’s important to stay alert and protect yourself from falling victim to a scam. Here […]
Read moreWith the enactment of the One Big Beautiful Bill Act in July 2025, a new deduction for tips is effective for tax years 2025 through 2028. Here is a summary of the new provision and the occupations that will be affected. Deduction explained Employees and self-employed individuals may deduct up to $25,000 per year of […]
Read moreThe federal government officially shut down many of its operations at 12:01 a.m. on October 1, 2025.1 This is the 15th government shutdown since 1980. Most were short, lasting one to three days. The longest lasted 34 full days, from December 2018 to January 2019.2 It’s impossible to predict how long the current shutdown might […]
Read moreThe One Big Beautiful Bill Act (OBBBA), signed into law in July 2025, includes multiple provisions that affect higher education. Key changes include new borrowing limits for students and parents under federal loan programs, streamlined student loan repayment plans, stricter rules on the ability of borrowers to pause student loan repayment, the promotion of workforce […]
Read moreEach year, the Trustees of the Social Security and Medicare trust funds provide detailed reports to Congress that track the programs’ current financial condition and projected financial outlook. These reports have warned for years that the trust funds would be depleted in the not-too-distant future, and the most recent reports, released on June 18, 2025, […]
Read morePresident Trump signed into law the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, after months of deliberation in the House and Senate. The legislation includes multiple tax provisions that will guide individuals, business owners, and investors in planning their finances for many years to come. It makes permanent most of the 2017 […]
Read moreThe One Big Beautiful Bill Act H.R. 1, the One Big Beautiful Bill Act, narrowly passed the House of Representatives on May 22, 2025. The legislation is now being deliberated in the Senate, after the Senate Committee on Finance released its own version of proposed tax provisions on June 16, 2025. which is generally limited […]
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