Most importing companies are faced with the challenge on how to properly manage inventory levels. Bring in too much unsold merchandise and you are forced to cover the carrying costs including the costs to warehouse the merchandise for extended periods as well as the financing costs. Keep the…
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.
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…
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…
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…
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…
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…
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…
Flexible work might be the critical component of retention When we speak to our clients across almost all industries, we hear a common refrain – in the current environment, it is difficult to retain and attract employees. Workers and potential employees are looking at many different aspects…
On April 9th, 2022, New York Governor Kathy Hochul signed the state’s Fiscal Year 2022-23 budget bill. Among the various tax provisions in this historic bill, there are two noteworthy changes to the New York PTE tax. Under the original PTE tax law, the tax base for…
