Benefit Ownership Information (BOI) reporting, a new anti-money-laundering initiative affecting most entities, will take effect on January 1, 2024. Enacted through the Corporate Transparency Act of 2021, its purpose is to keep racketeers including oligarchs, financiers of terrorism, drug traffickers, and human traffickers from using anonymous shell companies…
CPA Firms Shift Toward More In-Person Collaboration and More Square Footage Written by Chris Camara, Managing Editor at Inside Public Accounting (IPA) Featuring Ephraim Fishman, CPA Partner Featuring Brandon Smith CHRO Click to Read PDF Version Three years after accounting professionals were forced home by COVID and then…
Choosing a bank is an important decision, particularly in the ever-changing financial landscape. LMCLS Relationship Manager, Shahrzad Pantera, shares’ her best practices and strategies, particularly for the next generation of youth who will encounter this important decision. Op-Ed Written by Shahrzad Pantera Relationship Manager, LMCLS I am happy…
Due to the firm’s continued growth, LMC is excited to have welcomed numerous new employees who have recently joined our team. We are thrilled that these new employees have decided to build their careers at LMC. Management Nicole Pollack joined as the firm’s Chief Growth Officer in June. Nicole…
LMC proudly announces the launch of LMC Family Office, a dedicated division providing specialized family office services to high net worth individuals and families. Designed to meet the complex needs of substantial wealth, this service line supports clients through expert guidance in investment management, tax optimization, estate…
Written by Sammy Habbaz, Senior Accountant In last month’s Bottom Line newsletter, LMC senior accountant, Sammy Habbaz, discussed the tax benefits of investing in real estate. In our previous article, we spoke about two ways to make real estate losses active. The average customer use…
LMC staff took part in the annual JPMorgan Corporate Challenge 5K Run on Wednesday, May 31st. This was the second year that the firm participated. The event took place in Central Park. The JPMorgan Corporate Challenge is the world’s largest corporate running event. Each year, events take…
Thinking about making home improvements that will increase your home’s energy efficiency? Under the Inflation Reduction Act of 2022, tax credits are available for improvements that make homes more energy efficient, help homeowners switch to use clean energy sources, and retrofit heating and cooling systems. The…
LMC is excited to share that it has taken on a strategic investment from Ascend. Ascend is a strategic partner for top regional accounting firms, that is backed by private equity firm Alpine Investors. As LMC continues to expand, we recognize that the landscape within the accounting…
Written by Sammy Habbaz, Senior Accountant At LMC, we are constantly working with our clients to find ways to lower their taxes. A common method of doing so is investing in real estate, where taxpayers can take advantage of the “phantom expense” of depreciation. This allows taxpayers to…
