Small businesses form the backbone of the American economy, providing jobs, services, and innovation. Business owners must balance the perks that come with owning a small business with the downsides. One example: complex tax regulations. When businesses fall behind on...
Serving Individual And Corporate Tax Clients Nationwide From Our New York, New Jersey, Florida And California Offices
Steven Goldburd and Benjamin A Goldburd
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.
Business Tax
The audit lottery: Do small businesses really draw the short straw?
Small businesses are often the lifeblood of the economy, yet they face unique challenges when it comes to taxes. The complexity of tax law, combined with the diverse nature of small business operations, can lead to errors or omissions that attract the attention of the...
A cautionary tale for small business owners: The high stakes of tax compliance in New York
Imagine pouring your heart and soul into building a small business from the ground up. You're clocking in long hours, juggling the challenges of managing a dedicated team, and constantly striving to satisfy your customers. Amidst this whirlwind of activity, there is...
New York finds business liable for $15 million in franchise taxes
Entrepreneurs can use various tax tools to their advantage. When done wisely, this can result in tax benefits and financial gain, but a misstep can result in serious consequences. In a recent example, business owners attempted to use a business entity to purchase...
Should I change residency to save on taxes before selling my business?
Truly successful entrepreneurs are more than just business savvy — they are financially savvy. They know how to build capital and invest wisely; they know when a move could signal a better market or financial reward. This later part, the potential for a move, has...
IRS targets small business owners hit by the pandemic
The COVID-19 pandemic hit businesses hard. In an effort to reduce the risk that the pandemic would result in business closures and bottom out our economy, the government approved various federal programs. These ranged from loans and funding opportunities to tax...
Why does the IRS care which business structure I chose?
Entrepreneurs have innovative ideas and a passion to get those ideas for inventions or services out into the public. When done wisely, this process can not only make the community a better place but can also lead to financial gain for the innovator behind the idea....
How can tax planning increase value after an M&A deal?
A merger and acquisition (M&A) deal can result in tax obligations. A failure to prepare for these obligations can mean the deal is not as profitable as it should be. Proper planning before, after, and during negotiations can help to better ensure you make the most...
Three things to know as the IRS prepares to ramp up ERC audits
Lawmakers passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help get businesses through the worst of the pandemic. The Employee Retention Credit (ERC), part of this law, was aimed to do just what the name says — help small businesses keep their...
What do I need to know about the IRS crack down on fraudulent ERC claims?
Filing tax returns is never easy. Add in business ownership and the rules get even more complex. Throw in a pandemic that led to tax changes to help businesses running and businessowners were left with a mess of tax laws that even some tax filing professionals were...