News
Our take on all things financial.
Is Your Revocable Trust Fully Funded?
Is your revocable trust fully funded? A revocable trust — sometimes known as a “living trust” — provides significant benefits. They include the ability to avoid probate of the...
Weber Moses & Co. Has Merged with Reid CPAs, LLP
Press Release: Woodbury, New York (January 3, 2023) – Reid CPAs, LLP and Weber Moses & Co. of New York announced a merger effective January 1, 2023. The merger with Weber...
Retirement Plan Early Withdrawals: Make Sure You Meet the Requirements to Avoid a Penalty
Early withdrawals from retirement plans could result in penalties. Most retirement plan distributions are subject to income tax. However, taking money out of your plan can be...
Many Tax Limits Affecting Businesses Have Increased for 2023
An array of tax-related limits affecting businesses have increased more than usual for 2023. These tax-related limits are indexed annually, and due to high inflation, they are...
2023 Adjusted Penalties for Health Benefits and Other Employer Plans
The U.S. Department of Labor (DOL) recently announced the 2023 annual adjustments to civil monetary penalties for a wide range of benefits-related violations. Legislation enacted...
Michael C. Allen & Co. Has Merged with Reid CPAs, LLP
Press Release: Woodbury, New York (January 3, 2023) – Reid CPAs, LLP and Michael C. Allen & Co. of Lake Success, New York announced a definitive merger effective January 1,...
Stay Informed on the Ever-Changing Unclaimed Property Rules and Regulations
Robert L. Tobey, CPA, Partner If you are owed money by a business, a government, or a not-for-profit entity and you do not collect it, it’s considered unclaimed property....
Business Owners: Now’s the Time to Revisit Buy-Sell Agreements
If you own an interest in a closely held business, a buy-sell agreement should be a critical component of your estate and succession planning. These agreements provide for the...
3 Ways Your Business Can Uncover Cost Cuts
Uncovering business cost cuts - every business wants to find them, but they sure don’t make it easy. We’re talking about cost cuts: clear and substantial ways to lower expenses,...