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Allan J Rolnick's Blog (4)

Tax Relief and COVID-19


Much like a natural disaster, the coronavirus took the world by storm and forced everyone to seek “shelter at home” and to change their daily habits in an effort to “flatten the curve”. This meant shutting down businesses and within a week, millions of Americans found themselves out of a job.


Businesses who had record sales at the beginning of March found themselves near insolvency by end of March. Despite a $2 trillion stimulus bill, the economy will…


Added by Allan J Rolnick on May 14, 2020 at 10:36am — No Comments


When it comes to raising revenue, governments usually find it most efficient to follow the immortal advice of bank robber Willie Sutton and go "where the money is." They turn to income, payroll, property, and sales taxes to fund most of their operations. They'll throw in the occasional gas tax or sin tax for fun. Most of the time, those "nuisance taxes" don't amount to much. But that's not alwaysthe case.

Added by Allan J Rolnick on April 25, 2019 at 4:26pm — No Comments

How to Deduct Medicare as a Business Expense BY ALLAN ROLNICK

Premiums for Medicare health insurance can add up to a substantial sum. That’s especially true if 


  • you have high income, and 
  • you’re married and both you and your spouse are paying premiums. 


Fortunately, the premiums can…


Added by Allan J Rolnick on March 11, 2019 at 3:12pm — No Comments

What Are My Chances of Getting Audited? 11 Tips For New York Metropolitan Area Small Businesses by Allan Rolnick | Blog

On March 15th, 2018, Subchapter S Corporation (S-corps, for short), have their tax returns due. We’re already on top of things for our New York Metropolitan Area clients, but this is a quick reminder to you to make sure that we’ve communicated, and that your books don’t contain any “hanging chads” that might come back to bite you.

Let me know if you need any quick help before the…


Added by Allan J Rolnick on April 12, 2018 at 4:58pm — No Comments


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