Stuart G. Lang, CPA, P.C. Certified Public Accountants Baldwin Long Island New York

Tax Tips - Stuart G. Lang, CPA, P.C. is a Certified Public Accounting (CPA) firm located in Baldwin, Long Island, New York, servicing all parts of the New York Tri-State area offering accounting; auditing; business formation; business projections; business valuations; estate planning; IRS representation; litigation support services; management consulting; mergers and acquisitions; probate administration; tax planning; tax preparation; peer review services to accounting firms; coop and condominium accounting; not for profit organizations including churches; governmental accounting including school districts.

July 2010
Homeowner cancellation of debt income requires expert assistance
The last several years have been particularly difficult for homeowners, many of whom may have experienced an unfortunate event with regard to their homes, such as a foreclosure or a short sale.

June 2010
Family business? Taxes can be complex for family members

May 2010
Uncertain estate and gift tax law may impact your estate plan
Since Congress couldn't agree during 2009, there can be no certainty that they will be able to during 2010 (note that 2010 is an election year). Meanwhile, wealthy people will die and there will be confusion as to what laws will apply.

April 2010
Major tax acts passed in March
Two major pieces of legislation were passed in March that could affect your business or your personal situation.

March 2010
Claiming dependents can be complicated business
Most people understand that they can claim their dependent children as a tax deductions, but there are complicated rules for claiming those who may not be your dependent minor child. Qualifying relatives who do not meet the criteria of dependent child may also be claimed in certain circumstances.

February 2010
Getting the Most from Energy Credits
Homeowners may be able to take advantage of tax credits for certain energy saving improvements or for installing alternative energy property in their homes. The two credits available are the Credit for Nonbusiness Energy Property and the Residential Energy Efficient Property credit.

January 2010
Encouraging Contributions for Haiti's Earthquake Victims
The House and Senate have approved a bill to accelerate the income tax deduction for contributions to qualified charitable organizations for the relief of Haiti's earthquake victims.

The technical information here is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.