When helping our clients plan for retirement, many express their interest to set aside money for charity. Some clients have a specific charity in mind, while others simply want to set aside an amount to be given to a charity…
On Long Island, a tax break affecting 35,000 Nassau County seniors was not renewed this year.
Recently, Nassau County let a long-standing property tax abatement expire without any notice to the recipients of the abatement.
Approximately 35,000 seniors, all earning less than $86,000 a year in income, were receiving approximately $200 a year in tax abatement. But now the abatement has been removed because the county legislature did not re-approve the abatement.
As tax preparers, we see all kinds of taxpayers—organized, not organized, and some in the middle. Whether you come prepared with an accordion folder of neatly organized documents or an old shoe box with scraps of paper, you should be cautious in the way you keep your tax records.
Stories and warnings of identity theft, financial fraud, and scams are an everyday occurrence; these instances are a real concern to millions of Americans. The rise of identity theft, fraud, and scams should caution us to evaluate how we store our important data, such as our tax records.
As millions of Baby Boomers approach retirement age they are faced with a task most never thought they would have – supporting their parents. More and more Boomers, who should be planning for their retirement years, see a portion of…
Now that the Federal Estate Tax Exemption for 2013 is $5,250,000 for individuals, many clients are asking, “Do I still need to do Estate Tax planning in New York?” Do not be fooled by the federal government’s generous exemption. Your…