How to Survive an IRS Audit? Preparation!
GET IN TOUCH GET IN TOUCH Just the simple phrase, “IRS audit,” can be enough to trigger anxiety. For individuals and businesses alike, the thought
GET IN TOUCH GET IN TOUCH Just the simple phrase, “IRS audit,” can be enough to trigger anxiety. For individuals and businesses alike, the thought
GET IN TOUCH GET IN TOUCH As you, no doubt, already know, entrepreneurship comes with no shortage of daily challenges. From managing finances and taxes
GET IN TOUCH GET IN TOUCH Are you struggling to determine the best way to track your business or personal financial transactions? Do you find
GET IN TOUCH GET IN TOUCH Are you considering purchasing an electric vehicle in 2023? You’re not alone; the market for electric cars has expanded
GET IN TOUCH GET IN TOUCH Tax Day has come and gone this year, and that hopefully means you filed your federal returns or requested
GET IN TOUCH GET IN TOUCH In one sense, there are worse problems you could have than sitting on significant capital gains. Nevertheless, increased capital
GET IN TOUCH GET IN TOUCH In the over four years since a 2018 Supreme Court ruling cleared the way for the legalization of sports
In this article, we’ll discuss some practical steps businesses can take to protect themselves from cyber threats during tax season.
By implementing these measures, business owners can safeguard their financial and personal data and keep their businesses running smoothly throughout tax season and beyond.
In this article, we’ll explore the impact of the Metaverse on real estate to help you understand the potential tax implications of investing in the virtual real estate market.
What is the New Jersey Manufacturing Voucher Program? Who can benefit from the MVP? And how can manufacturing businesses apply? For answers to these questions and more, continue reading below.
Failing to understand the difference between cash flow and taxable income can significantly impact your financial planning and decision-making.
So, in this blog post, we’ll delve into more detail that will help you confidently navigate the nuances of this distinction.
Noncompliance comes with substantial financial and reputational exposures, and, to make matters worse, UP compliance has been overlooked in the past. What’s more, every state has its own complex set of laws. That means even your accountant may be in slightly unfamiliar territory!
But you don’t need an accountant to add this one up: it’s time to get caught up on what your company needs to know about unclaimed property risk.
With the proper knowledge, taxpayers can take full advantage of the potential benefits of the Inflation Reduction Act.
In this post, we’ll dig deeper into the renewable energy incentives provided by the IRA and explore opportunities that could help you save money and make well-informed decisions at tax time.
Tax planning can be daunting for anyone, but for LGBTQIA+ individuals, there can be unique challenges and considerations to navigate.
That’s why it’s crucial for LGBTQIA+ individuals to have a solid understanding of tax planning considerations that specifically impact them.
GET IN TOUCH GET IN TOUCH Whether you are a startup founder or an investor looking to support the next market-changing idea, securing the funds
GET IN TOUCH GET IN TOUCH Since the 2017 passage of the Tax Cuts and Jobs Act (TCJA), the U.S. tax code has seen dramatic
GET IN TOUCH GET IN TOUCH With the filing season for the 2022 tax year officially underway, many Americans are already looking ahead to tax
GET IN TOUCH GET IN TOUCH All eyes are on the IRS this year, with interim Commissioner Douglas O’Donnell (Charles Rettig’s term ended in November
GET IN TOUCH GET IN TOUCH Understanding the tax implications of rental income is essential to being successful as a landlord. Whether you own a
GET IN TOUCH GET IN TOUCH For many taxpayers, the word “audit” alone triggers anxiety and stress. In fact, as this survey reveals, 47% of
GET IN TOUCH GET IN TOUCH If you live, work, or do business in multiple states, your income may be subject to the taxation requirements
GET IN TOUCH GET IN TOUCH High-income taxpayers, will tax phaseouts affect your deductions or credits this year or the next? It’s an important and
GET IN TOUCH GET IN TOUCH With the end of the year approaching and the start of the 2022 tax filing season approaching, the window
GET IN TOUCH GET IN TOUCH Employee stock options, which allow employees to buy shares of the company they work for at a discounted rate,
Raising children can be very expensive.
Luckily, there are deductions available for some families with children could help reduce your taxable income, putting more money back in your pocket — at least until it’s time to pay for daycare, anyway!
In our latest blog post, we provide an overview of the various tax deductions available for families with children and some strategies for maximizing those deductions.
GET IN TOUCH GET IN TOUCH A lot is happening these days, and it’s not always easy to keep up. This past year has been
GET IN TOUCH GET IN TOUCH 59% is approximately how many children that are five or younger who are not enrolled in kindergarten that were in
GET IN TOUCH GET IN TOUCH When someone we care about passes away, there are many feelings we may experience as part of the grieving
GET IN TOUCH GET IN TOUCH A lender canceling or forgiving a debt you owe can be great news. After all, you no longer have
GET IN TOUCH GET IN TOUCH Is your identity secure … or could someone potentially file a false tax return using your personal information? The
GET IN TOUCH GET IN TOUCH Are you worried about your golden years? If so, you’re not alone. According to a survey, 66% of Americans
GET IN TOUCH GET IN TOUCH If you are 70 ½ or older and enjoy supporting your favorite charities, you have likely heard the phrase
GET IN TOUCH GET IN TOUCH Do you pay a nanny, housecleaner, gardener, maid, babysitter, or another type of household employee? If so, you may
GET IN TOUCH GET IN TOUCH As the holiday season looms, your mind may already be turning to the giving and receiving of gifts…and, of
GET IN TOUCH GET IN TOUCH If you’ve reached the age where you can receive Social Security benefits, congratulations! That means you’ve worked hard and
GET IN TOUCH GET IN TOUCH Why form an LLC? For plenty of entrepreneurs who wish to start their own business, one of the first
GET IN TOUCH GET IN TOUCH When launching your exciting new business, one of the first and most critical questions you’ll need to answer is:
GET IN TOUCH GET IN TOUCH The recently-implemented Inflation Reduction Act brought about sweeping changes impacting U.S. taxpayers. Yet, one frequently-debated provision of the tax
GET IN TOUCH GET IN TOUCH Being named the beneficiary of a person’s retirement plan is an honor and demonstrates that the person who passed
If you are considering a reverse mortgage, it’s essential to understand how it works.
This article will answer some common questions about reverse mortgages and examine some risks and potential disadvantages to help you make the wisest decision for your circumstances.
GET IN TOUCH GET IN TOUCH For most people, selling a home is a major life event that takes time, planning, and careful consideration. And,
GET IN TOUCH GET IN TOUCH Employee stock options can be a valuable aspect of a good compensation package. However, knowing when and how to
According to the IRS, qualified business income, or QBI, is “the net amount of qualified items of income, gain, deduction, and loss from any qualified trade or business.”
To explain it more simply: Qualified business income refers broadly to your business’s net profit.
To learn more about the qualified business income (QBI) deduction, and discover what it means for your real estate business or rental property, continue reading.
If you drive for work, use your car for your job, or even use car-for-hire services or rideshare programs for business purposes, you might be able to deduct expenses related to your vehicle.
To discover how you can maximize your tax deduction for the business use of vehicles, continue reading below.
The most common way to profit from owning a piece of real estate is by selling the property for more than you paid, often because the property’s value has appreciated or increased over time.
Fortunately, there is a way to cash out on a property and avoid a hefty capital gains tax bill: Section 1031, or a “like-kind exchange,” allows you to defer or postpone capital gains tax liability on the transaction.
To learn more about 1031, or like-kind exchanges, and what they mean at tax time, continue reading below.
Nobody wants to think about the potential destruction of their personal property due to a disaster or loss due to theft.
However, casualty loss rules are complicated, so there are some things you should know beforehand should the worst happen. Of course, we sincerely hope that you will never need this information. But as the Scout motto goes: Be prepared.
To learn more about what personal casualty or theft losses may be deductible on your tax returns, how to calculate your loss, and when to deduct such losses, continue reading.
In today’s digital world, cybercriminals are constantly developing new ways to get personal information and use it to their advantage, which means identity theft is a risk for everyone.
Having your identity stolen in a tax-related scam can be particularly demoralizing. Fortunately, an ounce of prevention is worth a pound of cure.
To discover how tax identity theft can happen, how it may affect your tax refund, and what to do next if you are the victim of tax-related identity theft, read on.
If you’re a business owner, it’s possible that at some point during the year, you’ll have an excess business loss or net operating loss.
This article provides some answers to common questions about excess business loss limitations and Net Operating Loss so that you can make more informed decisions when preparing your taxes.
It’s becoming more and more common for American workers to access their retirement funds earlier than the IRA withdrawal age of 59 ½.
Fortunately, there are some steps you can take to optimize your tax planning strategy and get the most out of your early retirement distribution.
Read on to learn about early retirement distributions, how a SEPP plan can help you avoid penalties, and how to make your withdrawals more tax-efficient.
Corporation meeting requirements are different depending on the type of corporation and the state in which you incorporated it; state law and the corporation’s own bylaws set the rules by which the corporation holds valid meetings, takes proper actions, and keeps appropriate records and documentation.
To discover more about general meeting requirements for all corporations and corporations with a single shareholder, two shareholders, or three or more shareholders, continue reading.
Above & Beyond
New York City
2 West 45th Street, Suite 1208
New York, New York 10036
565 Taxter Road, Suite 105
Elmsford, New York 10523
Send us a message and we will contact you as soon as possible.
Jeff Coyle, CPA, Partner of Rosenberg Chesnov, has been with the firm since 2015. He joined the firm after 20 years of business and accounting experience where he learned the value of accurate reporting, using financial information as a basis for good business decisions and the importance of accounting for management.
He is a diligent financial professional, able to manage the details and turn them into relevant business leading information. He has a strong financial background in construction, technology, consulting services and risk management. He also knows what it takes to create organizations having built teams, grown companies and designed processes for financial analysis and reporting.
His business experience includes:
Creating and preparing financial reporting, budgeting and forecasting.
Planning and preparation of GAAP and other basis financial statements.
Providing insight on financial results and providing advice based on those results.
Jeff also has a long history of helping individuals manage their taxes and plan their finances including:
Income tax planning and strategy.
Filing quarterly and annual taxes.
General financial and planning advice.
Prior to joining the firm in 2015, Jeff was in the private sector where he held senior financial and management positions including Controller and Chief Financial Officer. He has experience across industries, including construction, technology and professional services which gives him a deep understanding of business.
Jeff graduated from Montclair State University, he is a CPA and member of the American Institute of Certified Public Accountants, New York State Society of Certified Public Accountants and New Jersey State Society of Public Accountants.
Jody H. Chesnov, CPA, Managing Partner of Rosenberg Chesnov, has been with the firm since 2004. After a career of public accounting and general management, Jody knows the value of good financials. Clarity, decision making, and strategy all start with the facts – Jody has been revealing the facts and turning them into good business results for more than three decades.
He takes a pragmatic approach to accounting, finance and business. His work has supported many companies on their path to growth, including helping them find investors, manage scaling and overcome hurdles. His experience and passion for business reach beyond accounting and he helps businesses focus on what the numbers mean organizationally, operationally and financially.
He has a particular expertise in early-stage growth companies. His strengths lie in cutting through the noise to come up with useful, out of the box, solutions that support clients in building their businesses and realizing their larger visions.
Prior to joining the firm in 2004, Jody was in the private sector where he held senior financial and management positions including General Manager, Chief Financial Officer and Controller. He has experience across industries, which gives him a deep understanding of business.
Jody graduated with a BBA in Accounting from Baruch College, he is a CPA and member of the American Institute of Certified Public Accountants and New York State Society of Certified Public Accountants.
In addition to delivering above and beyond accounting results, Jody is a member of the NYSCPA’s Emerging Tech Entrepreneurial Committee (ETEC), Private Equity and Venture Capital Committee and Family Office Committee.
He is an angel investor through the Westchester Angels, and has served as an advisor for many startup companies and as a mentor through the Founders Institute.