The IRS has announced some important amounts for the 2024 tax year. Below is a summary: For those who do not itemize on their tax returns, the standard deduction for married couples filing jointly for tax year 2024 rises to $29,200, an increase of $1,500 from tax…
On Thursday, November 16th, LMC closed the office for the day to allow our team to give back and serve the community through our first company-wide LMC Gives Back Day. At LMC, we believe that giving back is not only a core value of our firm, but also…
At LMC, our promise is to leverage our expertise, and provide innovative solutions to help our clients achieve their current and future financial goals. To further deliver on this promise, we are expanding the services we are able to provide, through our Family Office Division. Overview The…
On Thursday, November 2nd our team gathered for our first Whole Company Alignment, an interactive presentation led by firm leadership, to introduce our team to the firm’s vision, promises and values. LMC has experienced tremendous growth over the past few years. As the firm continues to reach new…
Congress has not enacted significant tax legislation in 2023, although tax changes could be added to year-end budget legislation. In the meantime, tried and true tax planning techniques, the continuing tax ramifications of legislation enacted in 2022, and the scheduled 2026 expiration of many tax breaks leave taxpayers…
On Monday, October 16, 2023, Big Brothers Big Sisters of New York City (BBBS of NYC) hosted their 3rd Annual Accountants & Bankers Golf Outing. Over 100 supporters from the Tri-State area’s premier accounting and banking firms attended this annual fundraiser which was held at the Glen Head…
In the last Bottom Line newsletter, we explained the effective hold by the Internal Revenue Service (IRS) on processing new ERC claims until the end of the 2023 year. Recently, the IRS announced details of a special withdrawal process made to help those who filed a claim and…
Back by popular demand, LMC was excited to offer our employees a sushi and sashimi buffet lunch last month, catered by Akimori sushi chefs. Having the sushi chefs from Akimori visit our firm, has now become a recurring fun event that our employees look forward to. …
LMC is very pleased to share that the firm has been named one of the 2023 Best Places to Work in NYC by Crain’s New York Business! This is the firms’ second consecutive year being named on this prestigious list. Crain’s New York Business annually partners with…
Starting September 5th, 2023, New York City introduced significant changes to its regulations governing short-term rentals, particularly affecting Airbnb, VRBO and short-term rental hosts. These new regulations will significantly affect New York City short-term rental hosts. New York City has long been a popular destination for travelers,…
