Blog
New York’s 2022 Tax Changes
By now you’ve sent in your 2021 taxes or filed for an extension. It’s time to bring our focus to 2022. There are important changes with New York State’s taxes that give New Yorkers the unfortunate distinction of paying the highest combined state and local tax rate in...
What You Need to Know About the Metropolitan Commuter Transportation Mobility Tax
Photo by Pavol Svantner on UnsplashNew York has a variety of local taxes. One of these local taxes is the metropolitan commuter transportation mobility tax (MCTMT). The New York State Department of Taxation defines the MCTMT as a “tax imposed on employers and...
An Explanation of New York’s Sales and Use Tax
Most states charge a sales tax on retail goods and services. The state tax is relatively low but add on local and regional taxes and it starts to add up. In addition to sales tax, residents must pay use tax. We’re used to paying tax, but how much is it exactly and how...
Business Tips: Do I Hire Employees or Independent Contractors
One of the decisions that business owners must make is whether to hire employees or contractors. Tax implications and penalties may be incurred if an individual working for your company is misclassified. Here’s everything you need to know to make the right decision...
What is a Professional Corporation?
So, you’ve decided to start a business. Congrats! Which business model will you choose? Our business entity series explains each of the business structures, helping to identify the advantages and disadvantages of each legal entity. Many people have heard of LLC’s and...
Six 2021 Tax Tips That Can Save You Money
What a year! Even though 2021 has been unusual, to say the least, one thing doesn’t change. With the end of the calendar year, our thoughts (at least here in the accounting world) turn to taxes. We have held off on posting this while we await a sense of where tax...
California Pass-Through Entity (PTE) Tax
On July 16, 2021, California Governor Gavin Newsom signed “Assembly Bill 150” into law to join a number of states that have an optional passthrough entity tax (“PTE Tax”) regime. The bill allows a qualified entity to make an annual PTE tax election for the taxable...
How to Choose the Right Structure for Your Business: What is an S Corporation?
Atlantic Monthly recently reported that “the coronavirus decimated an unprecedented number of small businesses, but also enabled the launch of an unprecedented number of new ones. Business formation surged strongly in the second half of 2020. Entrepreneurs launched...
The Employee Retention Credit (ERC)
The Employee Retention Credit (ERC) was first introduced by the Coronavirus Aid, Relief and Economic Security (CARES) Act enacted in March 2020 to encourage employers to keep their employees on payroll during the Covid-19 pandemic. The Consolidated Appropriations Act...
Which Business Entity is Right for Me? An Explanation of a C Corporation
By now, most likely you have read that we are living during a time called the “Great Resignation”. According to a recent survey by career site Monster, “95% of workers are currently considering changing jobs and 92% are willing to switch industries to land a new...
What Our Clients Say
“ LH Frishkoff is so much more than Tax and Accounting. They have been proactive partners helping us achieve vital business milestones, work through challenges and ultimately create the financial infrastructure we have needed to succeed. Their level of service, professionalism and genuine care for their client’s businesses truly sets them far apart from all others.”
– Jeremy Bergstein, CEO, The Science Project
L.H. Frishkoff & Company
546 Fifth Ave. New York, NY 10036
212-808-0070
565 Taxter Road, Elmsford, NY 10523
914-523-2047
L.H. Frishkoff & Company
546 Fifth Ave. New York, NY 10036
212-808-0070
565 Taxter Road, Elmsford, NY 10523
914-523-2047