The recent IRS clarification on the rules governing inherited retirement accounts has significant implications for individuals who stand to inherit these assets. The updated guidance, stemming from a 2019 law, brings much-needed clarity but also introduces new challenges for those planning their financial future. The core of this…
LMC is excited to share that we’ve been recognized as a Top 200 accounting firm by INSIDE Public Accounting (IPA)! In 2023, we were ranked in the Top 300, and thanks to our significant growth, we’re now proud to be in the Top 200 for 2024. The…
LMC is immensely proud of our exceptional employees for their commitment to the firm and our clients. LMC staff participated in the following events this past month: LMC Third Quarterly Renewal On Thursday, August 15th, LMC hosted its third Quarterly Renewal meeting, focusing on our key initiatives…
AUGUST 1, 2024 (New York City) — LMC, the New York City professional services partner of Ascend, today announced a partnership with Goldglit & Company, a leading professional services firm for the art market based in New York City. The LMC-Goldglit & Company partnership will provide enhanced…
In June 2024, the IRS announced a new phase in processing Employee Retention Credit (ERC) claims to tackle a significant backlog that has accumulated since a moratorium on new claims was declared in September 2023. This moratorium was implemented after the IRS identified a substantial number of ineligible…
Creating a family office is essential for managing and growing family wealth. To ensure that your family office is effective and successful, consider focusing on these five key areas for a successful family office partnership. These elements are crucial for achieving long-term financial success and stability. Build…
An independent IRS watchdog has noted significant advancements in taxpayer services. However, the agency continues to face difficulties in promptly resolving identity theft cases. The latest National Taxpayer Advocate report to Congress highlights that these delays remain a significant problem. The 2024 tax filing season was improved…
LMC is immensely proud of our exceptional employees for their commitment to the firm and our clients. LMC staff participated in many events this past month: Retirement Party for Retiring Senior Manager Robert Vandewater LMC hosted a retirement event for retiring Senior Manager Robert Vandewater. The event…
LMC would like to welcome our recent new hires! We are thrilled to introduce our new employees and excited to have the following people join our growing team: Frank Blasucci, CPA Frank brings over 25 years of experience to his role as a Senior Manager in the Audit…
At LMC, we are proud to celebrate the hard work and growth of our team members. Their commitment to teamwork, excellence and exceptional client service drives our success. We are thrilled to announce the promotion of several outstanding individuals within our firm: Congratulations to all on your…
