May 2019 E-Newsletter



Done with Taxes This Year? Use 2018 Return to Get 2019 Withholding Right
Published by IRS Newswire | Issue Number: IR-2019-80

If your business offers its employees a retirement plan and other benefits, you should be aware of increases to contribution and income limits for tax year 2019 due to an inflation adjustment.

Know Your Benefits Limits
If your business offers its employees a retirement plan and other benefits, you should be aware of increases to contribution and income limits for tax year 2019 due to an inflation adjustment.

When Disaster Strikes Your Business
If a catastrophic event damages or disrupts your business, lost or destroyed tax records can add to your stress. The IRS suggests some steps you can take to deal with them if a disaster strikes.

A Taxing Situation
Starting your first business as a self-employed individual may be exciting, but it can also be taxing. To make the best of it, you'll need to understand and attend to your tax obligations.

Too Much of a Good Thing
Like all good things, investing requires moderation. For example, owning too many shares of your company's publicly traded stock in your 401(k) plan can hurt your retirement income prospects.


  • Income Tax Preparation for all types of businesses and individuals
  • IRS, State and Local Audit Representation
  • Trust, Estate and Gift Compliance
  • QuickBooks setup, support and training
  • Business startup services
  • Monthly bookkeeping
  • Financial statements
  • Family Office
  • Nonprofit Administration

Additional Updated Information

April 2019 E-Newsletter

March 2019 E-Newsletter

May 2019 Q & A

Q: A competitor of mine claims that he bought a disability income insurance policy that reimburses him for business expenses if he becomes disabled. Is that a thing?

A: Yes it is. Think of it as a disability income insurance policy for your business to alleviate the difficulty of paying company bills if you became temporarily disabled. Business Overhead Expense Insurance, or BOE, helps defray a company's regular bills including rent or mortgage, utilities, loan payments and other files. This differs from a typical disability income insurance policy, which pays a portion of lost income in the event of disability. An insurance professional can help you decide if BOE is appropriate for your business.

Q: My daughter will attend college next year and most colleges suggest we file something called a FAFSA to qualify for aid. What is this and when does she need to file it?

A: Most colleges and the federal government require students' families to file the Free Application for Federal Student Aid — FAFSA — as a way to determine financial aid eligibility. You should hurry if your daughter is attending college this fall. The filing deadline began on October 1, 2018 and generally funds are awarded until depleted, but typically no later than the federal deadline of June 30. Check out for more info.



The national unemployment rate was historically low in 2018 at 3.7%, but rates differed across the country, according to the Bureau of Labor Statistics (BLS). The lowest unemployment rates were 1.4% in Ames, IA and 2.3% in the Nashville, TN metro area. El Centro, CA at 17.3% and Yuma, AZ at 15.4% had among the highest unemployment.


A Gallup Poll found that the rate of Americans without health insurance rose to a four-year high. One reason could be the repeal of the individual mandate, but the rate has been rising since 2016 before the mandate was repealed. The U.S. adult uninsured rate was at 13.7% in the fourth quarter of 2018, up 2.8 percentage points from its 2016 low. Gallup reports that's an increase of 7 million uninsured adults.


BLS compiled statistics on work-related fatalities from 2003 to 2017 and, not surprisingly, found jobs entailing physical labor were among the most hazardous. Tractor trailer drivers, ranchers and farmers, and public safety officers experienced the highest number of deaths. Logging and commercial fishing had the highest rates of fatalities per 100,000 full-time equivalent workers. Those who worked in retail, finance and other office jobs had among the lowest rates of deaths.


More from the BLS: The agency looked at consolidated leave plans in 2018 and found the average paid time off for those with these combo plans (sick, personal and vacation) was 14 days after one year of service and 24 days after 20 years. Those who had paid vacation days, not consolidated time, averaged nine days at one year of service and 18 days after 20 years.

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