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…
The firm was extremely excited when the New York State Council of the Society for Human Resource Management, together with the Best Companies Group, named LMC one of the Best Companies to Work for in New York State. Best Companies to Work for in New York identifies,…
Thanks to our amazing team at LMC we’ve moved past another tax deadline. LMC leadership is extremely proud of our remarkable team for their commitment to the firm and to our clients, and acknowledges their tremendous efforts. In the beginning of April, the firm invited Dylan’s Candy Bar…
Written by David Neuman, JD, Tax and Legal Manager More and more car buyers are purchasing electric vehicles. Approximately 282,000 EV’s were sold in the U.S. during the fourth quarter of 2022, up 51% from a year earlier. Individuals who purchase new electric vehicles may be eligible for a…
A new rule which took effect May 1, 2023 forces good-credit home buyers to pay more for their mortgages in order to subsidize loans to higher-risk borrowers. This is affecting all mortgages originating at private banks across the country. According to mortgage industry specialists, borrowers with a…
LMC is proud to share two prestigious recognitions the firm has been awarded recently. The firm was extremely excited when the New York State Council of the Society for Human Resource Management, together with the Best Companies Group, named LMC one of the Best Companies to Work for…
