BY PHIL GOLDSTEIN Managing Partner, Goldstein, Lieberman and Co. The Tax Cuts and Jobs Act (TCJA) made significant changes to the child credit. This credit is generally available to taxpayers with children under the age of 17, but the new law adds a new (smaller) credit for other dependents. Here are the details. Old Rules – Under […]
BY ANDREW KABATCHNICK, CPA Preparing for tax time, whether you are preparing yourself or you have a professional, can be a very stressful time for most people. However, there is a lot that can be done to help reduce the anxiety. From organizing you receipts and bank statements to planning ahead and discussing changes with you accountant […]
BY PHIL GOLDSTEIN Managing Partner, Goldstein, Lieberman & Co. LLC Make sure you take these deductions for 2017 as the new tax law has become the biggest piece of tax reform legislation that’s been enacted since the landmark Tax Reform Act of 1986. It’s expected to have a major impact on individual taxpayers in 2018. […]
BY PHIL GOLDSTEIN Managing Partner Goldstein & Lieberman There are many highly palatable advantages to the 2018 Tax Bill but businesses may find one provision difficult to swallow: the IRS is no longer serving up a 50 percent deduction for “directly related and associated entertainment”. That means there will be no more write offs if […]
State Senator David Carlucci (D-Rockland/Westchester) announced new legislation to enact a tax on vapor products used in an electronic cigarette or other similar device. New York State does not currently tax the liquids used in e-cigarette devices. “Not only will this tax help stunt the growth of e-cigarette use it will also help us protect […]