How To Avoid One Of The Most Common Estate Planning Mistakes

There’s a mistake families at every level of wealth often make when they go through their estate planning process, and decide how to allocate money to their heirs and to charity. An extremely common practice is to list charities as part of a will, or revocable trust, and in many cases (perhaps...   Read More

What businesses need to know about New York City’s New Sexual Harassment Law

On May 9, 2018, New York City Mayor Bill de Blasio signed into law the Stop Sexual Harassment in NYC Act (the “Act”), which is a package of bills aimed at addressing and preventing sexual harassment in the workplace. The signing of the Act triggers the countdown to the effective dates of various...   Read More

10 Can’t Miss Tax Deductions For Small Businesses & Self-Employed Persons

    American business is overwhelmingly small business. Small businesses with fewer than 20 workers together with the number of nonemployer businesses makes up 97.9% of the businesses in America Data from the Internal Revenue Service (IRS) supports the notion that small businesses are maki...   Read More

Unemployment and Taxes

Paying tax on unemployment: First, the biggie. Unemployment benefits are taxable income. Wait, you say. You heard some unemployment is tax-free. Sorry. That info is not quite an urban legend; it’s just outdated. A few years ago, as the Great Recession’s effects started being felt, Congress in 20...   Read More

What are ordinary and necessary business expenses?

Every tax filing season we hear the stories. Folks claim, often successfully, a variety of wacky tax deductions. The gas station owner who gave his customers free beer and then legally deducted the brewski promotion as a business expense. As all my tax savvy readers have already noticed, it is much ...   Read More