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Sanders Thaler Viola & Katz, LLP Alerts New Yorkers to Advantages of the 56 Recent Federal Tax Break Extensions

600,000 Long Islanders will also Benefit from Increased STAR Program Rebates

With the New Year comes a new tax season and with it the latest tax breaks and rebates. As such, Sanders Thaler Viola & Katz, LLP is informing all New York taxpayers of recent legislation that will allow 56 Federal tax breaks to be extended through 2016 and on the upcoming state tax rebates. The pending legislation will benefit both large and small businesses, commuters who use public transportation, teachers who pay out-of-pocket for their classroom and individuals using income taxes to pay forgiven debt on reduced mortgages. Updates to the STAR rebate program will also benefit all New Yorkers, who will receive a sum 2.5 percent greater than last year’s rebate.

This latest Senate bill extends will save taxpayers $95 billion, and will benefit one in six Americans, while further adding to the American deficit. Technology businesses will be one of the biggest beneficiaries of the breaks, as there are tax credits for research and development. There is also an exemption that allows financial companies such as banks and investment firms to avoid high taxes on foreign profits and corporations will be able to write off capital investments at a faster rate.

Homeowners who are enrolled in the New York State’s School Tax Relief Program (STAR) will receive a property tax rebate checks of varying amounts if their local government and school district stayed under the property tax cap unfortunately. To qualify, the property must be the homeowner’s primary residence and the total household income must be $500,000 or less. Though the average increase will be around 2.5 percent, residents in 22 villages will receive smaller amounts due to their town’s overspending.

Other exceptions to reimbursement are improvements to property that increase its value, changes in a property’s exemption status or a jurisdiction assessment to the extent the increase in the property’s assessed value exceeds the average change in assessed value.

“The passing of this legislation and the property tax-freeze rebate will open up several opportunities to New Yorkers who felt the strain this year,” says Scott Sanders, CPA, PFS, CGMA, CFP®, CFS, Managing Partner, Sanders Thaler Viola & Katz, LLP. “Smart fiscal discipline can be the difference between receiving a check this time next year or not. Personal finances should be trusted to professionals who know the ins and outs of the system and can conduct their audits efficiently.”

 

For more information, call (516) 938-5219.

Eliot Lebenhart Featured in Long Island Business News: “In Vogue with International Tax”

Eliot Lebenhart, CPA, Senior Partner of Sanders Thaler Viola & Katz, LLP, was recently interviewed for Long Island Business News‘ “In Vogue with International Tax” article. In this feature, Mr. Lebenhart discussed specialized tax preparation for models and entertainers, including managing foreign and domestic tax issues. He also focused on the business expense guidelines and restrictions faced by these professionals. Read More

Eliot H. Lebenhart, CPA, PC Merges into Sanders Thaler Viola & Katz, LLP

Merger Will Allow CPA Firm to Expand into Providing Accounting Services for the Medical, Sports and Entertainment Industries

Effective November 1, Eliot H. Lebenhart, CPA, PC of Plainview, New York, will merge into Sanders Thaler Viola & Katz, LLP. The latter will retain its current name of Sanders Thaler Viola & Katz, LLP and continue to market itself as Sanders Thaler. With this merger, the firm will expand its practice areas by providing tax, accounting and business cpamanagement services to the medical, sports and entertainment industries.

Eliot H. Lebenhart, CPA is a graduate of the State University of New York at Binghamton. Prior to starting his own firm, he worked at various CPA firms that specialized in providing tax services to the sports and entertainment industries. In 1983, he started his own firm which concentrated in the fields of fashion modeling, entertainment and sports. He has also developed a practice in the medical field, along with a diversified clientele.

Mr. Lebenhart is a member of the Executive Board of Directors of the New York State Society of CPAs’ Nassau Chapter (NYSSCPA-Nassau), where he co-chairs the Small Firm Management of an Accounting Practice Committee and the Practice Continuation Committee. He is also a member of the American Institute of Certified Public Accountants and the Nassau/Suffolk Chapter of the National Conference of CPA Practitioners, where he previously served on its Executive Board of Directors.

In addition, Mr. Lebenhart has spoken at numerous seminars on tax and financial planning strategies and at NYSSCPA-Nassau events. He has also appeared on television and radio shows speaking about financial and tax-related strategies.

“We are excited to announce Mr. Lebenhart’s firm merging into our firm,” said Scott Sanders, CPA, PFS, CGMA, CFP®, CFS, the firm’s managing partner. “Eliot is a well-versed accountant experienced in tax and accounting issues affecting the medical, sports and entertainment industries. We know that Eliot will be a terrific addition to our firm that will benefit both our clients and our staff.”

“I am pleased to join forces with Sanders Thaler Viola & Katz,” Mr. Lebenhart said. “I am looking forward to working with a great group of accountants and professionals.”

Robert Mauro Joins Sanders Thaler Viola & Katz, LLP as Its New Audit Director

Sanders Thaler Viola & Katz, LLP has announced that Robert Mauro has joined the firm as its new Audit Director. In his new position, Mr. Mauro will be managing clients’ financial accounts within various industries and professions.

Before joining the firm, Mr. Mauro was an Audit Principal at Berdon LLP in Jericho for 13 years. During his time there, he advised clients in real estate organizations, government-assisted housing projects, wholesalers, advertising agencies, medical organizations, hotels, broker/dealers, and investment companies. In addition, Mr. Mauro has shared his expertise through in-house training programs such as accounts receivable, cash management, and inventory control. He also frequently presents seminars on preparing financial statements.

Mr. Mauro graduated magna cum laude from St. John’s University with a Bachelor of Science degree in Accounting. In 1999, he received his license in certified public accounting from the state of New York. Mr. Mauro is also a longtime member of the New York State Society of Certified Public Accountants. He currently resides in Levittown.

“I am excited to take on this new role at my new firm,” Mr. Mauro says. “I am honored to join a great company with a remarkable reputation.”

“We are excited to have Robert on our team. He is a very talented individual with an extensive auditing background,” says Scott Sanders, Managing Partner, Sanders Thaler Viola & Katz, LLP. “I know he will help our business grow and have a successful career with our company.”

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