Written by Jeffrey S. Gold, CPA LMC Tax Director A Brief Look Back Under original Opportunity Zone rules, taxpayers could defer eligible capital gains by investing them in a Qualified Opportunity Fund (QOF). Opportunity Zones are created through a combined process involving state governors who nominate eligible low-income…
Written by David Neuman, JD LMC Tax & Legal Manager New York to Participate in Federal Scholarship Tax Credit Program: What Donors Need to Know New York taxpayers may soon have a new opportunity to support educational scholarships while reducing their federal income tax liability. On October 9,…
LMC is incredibly proud of our employees and their dedication to both the firm and our clients. This past month, LMC team members took part in the following events: Big Brothers Big Sisters of NYC 6th Annual Accountants & Bankers Golf Outing On Monday, October 19, LMC…
With homeownership becoming increasingly expensive, some parents are considering ways to help their adult children purchase a home. Financial assistance may take several forms, including gifts toward a down payment, intrafamily loans, or assistance with mortgage financing. While these arrangements can help make homeownership more attainable, they…
Health savings accounts (HSAs) offer individuals a tax-advantaged way to save for eligible healthcare expenses. As employees review their healthcare coverage during open enrollment, understanding the rules surrounding HSAs can help identify potential tax and financial planning opportunities. HSAs provide three primary federal tax benefits. Eligible contributions…
We’re excited to announce that LMC has once again been named a 2026 Best of the Best Firm by INSIDE Public Accounting (IPA)! IPA’s annual Best of the Best recognition highlights firms that stand out for their strong financial and operational performance. Being recognized once again…
Individual retirement accounts offer valuable tax advantages, but they also come with specific rules governing rollovers, distributions, and inherited accounts. While certain IRA mistakes can be corrected, others may result in unexpected taxes and penalties with limited opportunities for relief. Understanding some of the more consequential IRA…
LMC is proud to once again be recognized as one of Crain’s Best Places to Work in NYC for 2026! Our team joined fellow honorees Thursday, September 24, at the Crain’s Best Places to Work Awards Luncheon at the New York Marriott Marquis to celebrate this achievement….
LMC is incredibly proud of our employees and their dedication to both the firm and our clients. This past month, LMC team members took part in the following events: Needlers Foundation Annual Golf & Pickleball Outing On Monday, September 14th, LMC was proud to be among the…
TIME has released its TIME100 Art 2026 list, recognizing 100 influential individuals helping shape the future of art. This year’s honorees represent a wide range of roles across the art world, including artists, photographers, sculptors, curators, philanthropists, museum leaders, and others whose work and leadership continue to…
