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Mid-Year Tax Planning Strategies Tax season is over. If you’re like most people, you’re mentally checking out of anything tax-related until next year. That’s a mistake. Whether you’re a W2 employee, business owner, or are dipping your toes into the side gig space, mid-year is the ideal time to: Review your upcoming obligations Examine expected cash flows Make adjustments or corrections to avoid compliance issues In this blog, we’re breaking down the mid-year tax strategies i

Everyone in the US has to pay taxes each April. But you might be one of the lucky people who get to pay them every four months as well. Whether you're aware of it or not, your employment or withholding situation may require you to file quarterly tax returns and pay an estimated amount based on your income. Before you miss a deadline, you need to know: If you’re required to file quarterly estimated taxes, and by when How to calculate what you owe The penalties for not filing

You hit submit on your tax return, breathe a sigh of relief…and then see a statement come through the mail that would’ve given you a pretty nice deduction. What now? It’s not like you can call up the IRS with a quick “one last thing” message, right? Let us introduce you to Form 1040-X—otherwise known as the way you can amend your tax return post-filing. Plenty of taxpayers file amendments every year, and you can too, if you discover new information after you submit your retu

You filed your tax return, and the number staring back at you is a lot bigger than you expected. Before you flat-out ignore the sum or drain your savings in a panic, take a breath. As much as it may seem like a crisis, owing taxes means you have options—and the worst thing you can do is nothing. Even if you can’t pay, the important thing is that you file on time. From there, you can work out a plan to settle up with the IRS. In this blog, we’re looking at: Steps to take if yo

Structural Differences Between LLCs and S-Corps Contrary to popular belief, this isn’t an apples-to-apples comparison. Each entity has different income, legal, and tax implications.

You’re sorting through the mail, tossing all the junk flyers aside, when a single envelope stops you in your tracks. The bold letters of the return address show three anxiety-inducing letters…IRS. Assuming you’re still panicking as you read this after your mad dash to Google, let us put you at ease: most IRS notices are far less serious than they seem. In this blog, we’re going to tell you: What most IRS notices are for The different kinds of IRS notices you may receive Exac

Most milestones in life come with a celebration, gifts, and, at the very least, some new emotions and memories. And while it may not initially cross your mind, those life changes also affect your tax status. However, amidst all the excitement and possible stress of transitioning into these new chapters, you might not consider the changes you also must (or at least should) make when filing your taxes once the season rolls around. For individuals, families, and business owners

As concerns over retirement savings grow, many states are implementing programs to close the gap and offer employees a chance to increase their savings. New York is the latest one to join the fray. As of the end of 2025, the state legislature officially launched the New York Secure Choice Savings Program . Since this new program affects both employers and employees, both groups need to understand the details that go into New York Secure Choice so they can comply correctly and

When you’re a regular employee working with a W2, filing your taxes can be relatively simple. Things get a bit more complicated, though, once you enter the world of side hustles and gig work. Earning some extra cash almost always leaves you liable for reporting that income to the IRS. Unfortunately, too many folks either don’t realize that or fail to take the necessary steps to avoid a big bill from the IRS come tax season. You don’t want to be one of them. That’s why we’re

Most taxpayers leave money on the table every year. It’s rarely intentional, but it happens when you don’t claim every tax deduction that you’re eligible for. Self-employed individuals, small business owners, and homeowners are often eligible for many more deductions than they think. But when you don’t take those deductions, you end up overpaying the IRS when you could have had those deductions count toward lowering your tax liability. (And we all know the IRS isn’t going to

With every new year comes new opportunities to plan for your future, namely through retirement contributions. Although you may want to add every spare dollar into your retirement account, the IRS places limits on maximum contribution amounts. However, they recently announced increased limits on 401ks, IRAs, catch-up contributions, and SIMPLE (Savings Incentive Match Plan for Employees) plans to help you keep up with inflation tax year 2026. Whether your goal is to lower your

The OBBB introduced some permanent and temporary changes to federal income taxes starting tax year 2025.

When you're making changes to your home, there's always a nice feeling that comes from choosing improvements that offer a bit of incentive. It's why so many New York, New Jersey, and Connecticut homeowners chose to invest in solar panels or new, energy-efficient HVAC systems over the last few years— to get the tax credits that came with them.

Understanding Mortgage Insurance Premiums and Your Taxes Remember the day you found “the one?” The house with the picturesque kitchen, the cozy living room, and the perfect patio to host friends and family? You couldn’t wait to call it yours. As much as you love your home, there's no denying that it comes with a laundry list of expenses—including insurance premiums that you had to start paying just to finish all the paperwork. By the end of the year, those premiums can add up

Whether you're a few months or several years into your mortgage payments, you're aware of how the interest you pay on that loan impacts your wallet each year. To help homeowners, the government used to allow you to deduct that interest on your taxes. But the looming expiration of that rule had many worried about losing those deductions and owing more each year.

See how you can take advantage of the One Big Beautiful Bill Act’s SALT changes to lower your Long Island and Tri-State area property taxes.