Trump Accounts provide families with a new tax-advantaged way to save for children. In addition to the $1,000 federal contribution available for eligible children born from 2025 through 2028, parents, grandparents, employers, and others may have opportunities to contribute additional funds. For families deciding whether to make…
We’re excited to share that Lee M. Cohen, CPA, CEO of LMC, has once again been recognized by Crain’s New York Business as one of its Notable Leaders in Accounting, Consulting & Law for 2026. This year’s list recognizes 97 leaders across the accounting, consulting, and legal…
Written by Jeffrey S. Gold, CPA LMC Tax Director About 90% of taxpayers claim the standard deduction rather than itemizing deductions on their federal income tax returns. Beginning with the 2026 tax year, many of these taxpayers may benefit from a new charitable contribution deduction without giving up…
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: LMC & JP Morgan Young Professionals Networking Event On Thursday, August 13, LMC teamed up with JP Morgan…
