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 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 Is your identity secure … or could someone potentially file a false tax return using your personal information? The
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:
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.
Nexus can be a confusing term. However, it can directly affect an entity’s tax liability and, therefore, the bottom line.
In general, if your business has tax nexus in another state, you need to be aware of some additional rules and obligations. This guide will help you understand what tax nexus is and how it applies to your company.
The IRS recently unveiled a significant component of this effort: the first-ever Taxpayer Experience Office (TEO).
Keep reading to learn more about how the Taxpayer Experience Office could make life easier for you at tax time.
Short-term rentals have become a popular way to earn extra cash.
Before you invest your money in a short-term rental property, take the time to consider these 3 tips that will help you avoid falling into common tax traps as a result of your investment.
Is your small business booming? If so, you may be considering offering your employees a group healthcare plan. A group healthcare plan ensures your great team stays healthy and happy as they continue to help the business succeed.
Read on to learn more about the small business healthcare tax credit, including what it is, how it works, whether or not your small business may qualify, and how to claim the credit.
To understand the benefits and possible pitfalls taxpayers will need to be aware of should the ‘SECURE Act 2.0’ become law, continue reading.
GET IN TOUCH GET IN TOUCH Marriage is an important milestone in many people’s lives. Yet, while starting a new life together can be exciting,
GET IN TOUCH GET IN TOUCH According to the agency’s data, the IRS issued 129 million tax refunds in 2021. That leaves 40 million United
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GET IN TOUCH GET IN TOUCH Does your business involve co-ownership, partnership, multiple stakeholders, ownership with a spouse, or family ownership? Alternately, do you hope
Above & Beyond
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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.