We are currently in a period of high home prices and relatively high mortgage rates. A push to improve housing affordability is gaining momentum. One potential solution being proposed is the 50-year mortgage—a loan term that would stretch payments over five decades. While the idea may seem appealing,…
As inflation-adjusted updates roll out for retirement savings plans, the IRS has announced higher contribution limits for 401(k)s and IRAs in 2026. These increases give older workers the chance to boost their savings as they approach retirement. Higher Limits Across the Board Starting in 2026, the annual…
Written by Nick Grgas LMC Audit Director The New Era of Client Service In today’s fast-paced business environment, waiting weeks for financial insights isn’t just inconvenient—it’s a competitive disadvantage. At LMC, we’re using AI to dramatically expand the value we deliver in every engagement. While the accounting…
For years, interest on a car loan has been deductible only in limited circumstances—primarily when a vehicle is used for business purposes. However, new legislation now introduces a temporary deduction that, for the first time, extends eligibility to certain personal‑use vehicles purchased in the coming years. The…
LMC is incredibly proud of our outstanding employees for their dedication to both the firm and our clients. This past month, LMC team members took part in the following events: Fall Campus Recruitment Events The LMC team was busy connecting with talented students during our fall campus…
For years, conventional wisdom has encouraged Americans to delay claiming Social Security benefits until age 70. The logic is straightforward: since Social Security provides guaranteed, inflation-adjusted income, waiting maximizes monthly payments and offers protection against outliving one’s savings. While sound in theory, this approach isn’t right for…
We’re proud to share that LMC has once again been named by Crain’s New York Business as one of the Best Places to Work in NYC. This honor reflects our ongoing commitment to creating a positive, inclusive, and rewarding workplace culture. Each year, the award is based…
The U.S. Supreme Court has agreed to fast-track a case challenging the legality of the Trump administration’s global reciprocal tariffs, with arguments scheduled for November and a ruling expected by year-end. The case centers on the administration’s reliance on the International Emergency Economic Powers Act (IEEPA)—a 1977…
Homeowners who sell their home at a profit may face capital gains taxes, but with strategic planning, many homeowners can reduce or even eliminate the tax. As property values continue to rise, more homeowners are tempted to take advantage of the increase in their home’s worth and have…
LMC is incredibly proud of our outstanding employees for their dedication to both the firm and our clients. This past month, LMC team members took part in the following events: LMC Sushi Luncheon On Tuesday, September 9th, LMC brought back our popular sushi and sashimi lunch, catered…
