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It's no secret that for many people who get in hot water with the IRS, a very common reason is payroll taxes. For many, they aren't filing properly, "assuming" that their bookkeeper is handling it or their payroll software. But that isn't necessarily the case, I'm sad...

Let's address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. (Of course, you have MANY more tax-savings opportunities as well.) But with those increased obligations comes increased...

Today, let's reach for some small business tips you should be taking away from this past season. As Long Island business owners, we always need to be ready to adapt to changing times -- this time around change just happened to come ... faster. So, what should we do...

During the first Super Bowl that Tom Brady won (with the Patriots), these were some of the companies who advertised (hat tip to Jon Erlichman of Bloomberg): AOL Blockbuster Radio Shack Circuit City CompUSA Sears HotJobs Yahoo VoiceStream Wireless Gateway Computers The...

There is a difference between income and wealth. Tax returns aren't about wealth -- they're about "income", and how that is defined. Business owners and real estate investors have access to powerful tax advantages that wage earners do not ... and wage-earners probably...

If we've learned anything from 2020, it's that our best-laid plans don't always turn out. As the great philosopher Mike Tyson once said: everyone has a plan until they get punched in the face. What is your plan for exiting your Long Island family business? You need to...

So ... I'm not sure if you knew this. Apparently, running a business is expensive. And controlling costs can be daunting. But despite whatever you might see from those gurus who are posing by their Lamborghinis in the Facebook ads ... even the leanest Long Island...

If you'll forgive me, I'm going to get pretty geeky today. You probably didn't realize that there are actual pros and cons to expense reimbursement for employees, etc. or using a company cc. Oh my Long Island readers, I'm going to take you down a little rabbit hole...

For many Long Island small business owners, and families, it can seem that the government has simply been throwing money around and not paying attention to what is done with it, or collecting what is due. But if you believe that the IRS won't come hunting for ways to...