LMC Holiday Party at Tempura NYC

This week, LMC Certified Public Accountants held the firm’s holiday party at Tempura NYC.   It was a great evening of fun, laughter, comradery and rejoicing. Everyone enjoyed socializing at the well-stocked open bar, as well as a full buffet of appetizers, entrees and desserts. Managing Partner, Lee M….

End of Year Strategies to Save On Your 2022 Taxes

By Ephraim Fishman, CPA    As we start the month of December, we thought we might mention some last minute tips that just might help you save on your 2022 taxes.   Do you itemize your deductions, or do you take the standard deduction?   Some taxpayers subtract…

LMC Employees Travel to Conferences

LMC Certified Public Accountants welcomes the opportunity to expand our employees’ knowledge and expertise. One of the ways to accomplish this is to have different teams attend conferences and professional member-sharing opportunities. During November, various LMC employees had the opportunity to travel to many diverse professional accounting industry…

NYC Pass-Through Entity Tax Application Now Open

By David Neuman, JD    The New York City Pass-Through Entity Tax (“NYC PTET”) online application is now available, allowing individuals eligible to opt in to the NYC PTET on behalf of an eligible city partnership or eligible city resident S corporation. Only an authorized person may make this election on behalf…

IRS raises interest rates for Q1 2023

There are occasions when taxes are paid late and the IRS computes and interest amount on the late payment. We are often asked how the IRS computes interest.   As reported by Accounting Today, for the calendar quarter starting Jan. 1st, 2023, the IRS has just announced that…

LMC Welcomes Two New C-Level Executives to the Firm’s Management Team

As the firm continues to see unprecedented growth, it became obvious that there was a need to expand the firm’s management team. To assist in running the day-to-day operations, LMC has added the following two newly created positions: Dmitriy Guller Chief Technology Officer (CTO) Dmitriy Guller has joined…

Student Loan Forgiveness Update

By David Neuman, JD    Last week, President Biden announced that the application process for the new, one-time, student loan forgiveness initiative is fully live and active. Over 12 million borrowers have already applied for loan forgiveness, according to top administration officials.   Under Biden’s plan, 40 million…

Year-End Charitable Giving Tips Specifically Using a Donor Advised Fund (DAF)

By Ephraim Fishman, CPA    As we are nearing year-end, many clients are focused on what they can do to reduce the amount of taxes they will owe. One way to reduce taxes and to also assist those in need, is to donate to charity. In addition to…

New Division: LMC Lending Services by The Bespoke Banker

LMC Certified Public Accountants is excited to announce a new division of the firm:   LMC Lending Services by The Bespoke Banker (LMCLS)   The Bespoke Banker was founded by Matthew Salmon, a lending specialist. Matthew has over 15 years of experience in the lending industry. He manages…

Sarah Forsyth is named a Crain’s New York Business Notable Leader in HR for 2022

LMC Certified Public Accountants is happy to announce that our Director of HR, Sarah Forsyth, has been named as one of the Notable Leaders in Human Resources by Crain’s New York Business. Sarah Forsyth Director of HR Sarah has spearheaded initiatives that led LMC to be recognized by…