Archive for News

NYS launches COVID-19 Capital Costs Tax Credit Program

Written By David Neuman, JD and Alan Wong, CPA   New York State has opened a “screening tool” for small businesses to determine if they qualify for the COVID-19 Capital Costs Tax Credit Program. This $250 million tax-credit program, which is being issued on a first come first…

How Does the Federal Reserve’s Tightening of Credit Affect Me?

This past Wednesday, the Federal Reserve moved to further tighten credit by raising its benchmark interest rate by a sizable 0.75 percentage point for a second straight time. The central bank is aggressively raising borrowing costs to try to slow spending, cool the economy and defeat the worst…

Should You Consider Investing in I Bonds?

If you are like most people, the recent market turmoil has you concerned about where to invest your money. The stock market in tanking, bonds have lost on average 8% of their value, gold is down 4% and let’s not even get started on what has happened recently…

Best Practices on How to Manage Inventory

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 Award Recognition by the NYSSCPA

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.  

Exciting News From LMC Ventures

  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…

You Found Something You Enjoy and Realize You Might Be Able To Make Some Money Doing It. Is This a Hobby or a Business?

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…

Quick Tips To Improve Your Meetings

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…

Annuities: Know the Pros and Cons

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…

Record Retention of Financial Documents: What to Keep and How Long

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…