Lee M. Cohen Award Recognition by the NYSSCPA
Lee M. Cohen, CPA, Managing Partner received the Arthur J. Dixon Public Service Award in May 2022 by the NYSSCPA. Click through to read Lee’s profile in the NYSSCPA’s Trusted Professional publication.
Exciting News From LMC Ventures
LMC Ventures is pleased to announce the closing of its first three deals with investments in: Supergoop! AXS Investments Ross Stores Structured Note We are currently working on the following investment opportunities: Real Estate Investment – Mixed use building in Soho Private Equity/VC Investment – Real…
LMC Participates in JPMorgan Corporate Challenge – 5K Run
LMC staff participated in its first outside corporate event since COVID-19 in the JPMorgan Corporate Challenge 5K Run on June 2nd, 2022. The JPMorgan Corporate Challenge is the world’s largest corporate running event. Each year, events take place in 15 locations including New York City, across eight…
LMC Spotlight: Client Account Services
At LMC, the Account Services Department has established itself as a reliable team of accounting professionals. The overall goal of the department is to ensure the maintenance of accurate financial data. The Account Services team seamlessly bridges the gap between working with clients to maintain proper records and…
You Found Something You Enjoy and Realize You Might Be Able To Make Some Money Doing It. Is This a Hobby or a Business?
Do you collect stamps? Take professional pictures? Have a knack for writing speeches or stories? Help people plan parties? Are these hobbies or actual businesses? According to the IRS “A hobby is any activity that a person pursues because they enjoy it and with no intention of making…
Quick Tips To Improve Your Meetings
One of the best ways to build relationships with coworkers and employees, is to meet with them one-on-one. Implementing the practice of conducting meetings is an excellent way to establish rapport, ultimately making employees feel appreciated and improving their overall productivity. While most managers are aware of the…
Annuities: Know the Pros and Cons
Some love annuities, some hate them, but there’s no denying that many find them useful, and they often form part of an estate plan. Before making a decision, it’s a good idea to learn more about them and how they might be able to help you. Annuities…
Lee M. Cohen CPA, Received Two Awards in May 2022
Lee M. Cohen, CPA, Managing Partner and Founder of LMC was honored at the Big Brothers Big Sisters of NYC’s 24th Annual Accountants and Bankers Reception at Inside Park at St. Bart’s on Wednesday, May 18th, 2022. The event was very well attended, and included in the…
Record Retention of Financial Documents: What to Keep and How Long
When it comes to managing financial and legal documents, there is no one-size-fits-all answer. When in doubt, it is always best to err on the side of caution and keep a document longer than the minimum required time. As we are in the digital age, scanning documents is…
1031 Exchanges – The Basics
By Ephraim Fishman, CPA A popular methodology of deferring taxable gain on the sale of business property is to use a 1031 exchange or like-kind exchange. The Internal Revenue Code 1031 is available to those who hold a property that qualifies as productive use in business or…