Blog

New York States Paid Family Leave Program

Starting January 1, 2018, the New York State Paid Family Leave Program will provide New Yorkers job-protected, paid leave to bond with a new child, care for a loved one with a serious health condition or to help relieve family pressures when someone is called to active military service.   This premium for this insurance […]

New IRS & NYS Requirements

In order to reign in tax fraud new procedures have been imposed on taxpayers and tax professionals. Please understand that the CPA community was informed late in the process nor did they participate in the drafting of these new procedures. They are: – IRS requires certain questions be answered in order to receive the following […]

Phishing: Are you the next target?

A client of ours contacted us regarding a suspicious phone call she had received. A woman claiming she was from the IRS told our client she owed the federal government money for “tax payments“ she “hadn’t payed“. What makes this case especially interesting? Our client happens to be a foreign national, and was threatened with […]

Thinking of Divorce? Here’s some Advice:

Untangling the affairs of a failed marriage is full of financial & tax pitfalls. It is prudent to speak to an impartial professional before either party engages in the service of an attorney. The major items of concern are whether divorce is the only option, what do both parties really want? 8 Important things to […]

Department of Labor and Issuing Forms 1099: Cause for concern

The IRS is referring to the US and NYS Departments of Labor taxpayers who were issued a single Form 1099Misc that was reported on their Form 1040 Schedule C and who had not been issued a Form W-2 and reported no wages on line 7 of their Form 1040. To summarize the situation in laymen’s […]

Hackers: One step further

The efforts of hackers have gone one step further, like a biological evolution, they continue to find ways to steal personal information. A computer virus doesn’t necessarily infect your computer from opening an infected email, or clicking on an advertisement on a website. What some hackers are doing now is they go into your web […]

Your Most Trusted Advisors

Yesterday a client made me realize how much a CPA needs to know and is responsible for. She graciously said that you need to be a special person to do the kind of work that we do. I came to realize that Marvin and I have both been working in the field of accounting for […]

Brexit Reactions

Stock Markets around the world have been hit hard, but what should an individual investor do? We like to follow Warren Buffet’s Strategy which is to invest in Quality Stocks and be in the market for the long haul. The Doomsday-sayers have it wrong, while the markets are still down as a reaction to the […]

What are Options on Stocks?

“Options on stocks, indices, and futures often get a bad rap. Journalists, pundits, and casual market observers criticize these derivative financial instruments as too complicated, subject to abuse, and difficult to understand, value, and trade profitably.” – The Options Edge The Options guide provides step by step explanations of what Options can do for you, […]

Web Scams

Our Client is a tech company that deals with international companies located throughout the world. As such payments to and from his company must be done via wire transfer. These transactions are often in the six figures therefore making these transfers in a secure fashion was a priority.   Like all clients his computer system […]