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Since 1983, our tax firm has skillfully represented individuals and corporations across the United States and around the globe from our offices in New York, New Jersey, California and Florida.
As tax professionals, we often hear from clients who have been defrauded in various scams, wondering if they can claim a “theft loss deduction” on their tax returns. The IRS issued Chief Counsel Advice (CCA 202511015) on January 17, 2025, clarifying how taxpayers who...
Winning the lottery is unlikely. Millions of people play, and not every drawing results in someone actually winning. The biggest prizes announced are often the product of multiple failed drawings, meaning that no ticket holders have previously won. Of course, when...
Taxpayers continue to leave New York and claim residence in another state to lower their tax burden. Although a smart financial move, it is not an easy one. Aside from rebuilding a sense of home and starting over in a new state, those who make the move must do so...
Walking out to check our mailbox is not what it used to be. Back in the day, we might be excited to find a card from a loved one or a letter from a friend. Now, more often than not, our mailboxes are full of political mailings and bills. If we are very unlucky, we...
The Internal Revenue Service (IRS) recently announced a new program that aims to help business owners address incorrect claims for the Employee Retention Credit (ERC). The program focuses specifically on third-party payers. Third-party payers are those who handle...
Successful business owners know more than just their trade, they also know how to navigate the details of business ownership. From administrative tasks to those involving human resources issues, knowing how to manage these details can make or break a business. One...
The pandemic was a difficult time for everyone. Healthcare workers struggled to provide care, retail workers did their best to provide consumers the goods they had come to rely on restaurants shifted to delivery and take-out. Many of these changes were navigated by...
The COVID-19 pandemic was a difficult time for small business owners. In an effort to help entrepreneurs survive these economically difficult times, the government offered various financial incentives. Some were in the form of tax incentives, others loans. One example...
The Internal Revenue Service (IRS) has argued that decades of underfunding have left it at a disadvantage when going up against the country’s highest earning taxpayers. The IRS argues that wealthy taxpayers show up to meetings with multiple tax attorneys, each...
Navigating tax law is a lot like trying to do a very difficult puzzle. Just when taxpayers think they have it figured out, lawmakers change the pieces, adding or adjusting the tax code in ways that can result in serious consequences for those who are not paying...